Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 167

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 167
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4Amortized% of DurationAmortized% of DurationSecurity TypeCostTotal(in years)CostTotal(in years) (Dollars in thousands)Municipal securities $1,253,568 54 %8.5$1,251,364 55 %8.0Agency commercial MBS443,875 19 %5.5440,476 19 %5.9Private label commercial MBS357,825 16 %5.2355,342 15 %5.6U.S. Treasury securities191,487 8 %5.4189,985 8 %5.9Corporate debt securities70,665 3 %4.370,482 3 %4.0Total securities held-to-maturity$2,317,420 100 %7.1$2,307,649 100 %7.0

HTM securities increased by $10.6 million to $2.3 billion at June 30, 2025 compared to $2.3 billion at December 31, 2024. The increase was primarily due to the accretion of $16.7 million of the remaining unrealized losses balance deferred in other comprehensive income ("OCI") from a prior transfer of securities from AFS to HTM on June 1, 2022, and the release of $0.8 million in credit loss reserve, offset partially by $6.3 million of net amortization and $0.6 million of principal paydowns.

As of June 30, 2025, HTM securities had aggregate unrealized net after-tax losses in AOCI of $145.9 million remaining from the balance established at the time of the AFS to HTM transfer, compared to $157.9 million at December 31, 2024.

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The following table shows the geographic composition of the majority of our HTM municipal securities portfolio as of the date indicated:

June 30, 2025Amortized % of Municipal Securities by StateCostTotal(Dollars in thousands) California$315,040 25 % Texas277,997 22 % Washington188,183 15 % Oregon80,534 6 % Maryland64,199 5 % Georgia55,305 4 % Colorado48,505 4 % Minnesota34,660 3 % Tennessee31,