Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 162

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 162
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 contained herein.

86

Noninterest Income

The following table summarizes noninterest income by category for the periods indicated:

Three Months EndedSix Months EndedJune 30,March 31,June 30,Noninterest Income2025202520252024(In thousands)Leased equipment income$10,231 $10,784 $21,015 $23,203 Commissions and fees9,641 9,958 19,599 16,771 Service charges on deposit accounts4,456 4,543 8,999 9,245 Gain on sale of loans and leases30 211 241 687 Dividends and (loss) gains on equity investments(114)2,323 2,209 4,234 Warrant income (loss)  1,227 (295)932 (146)LOCOM HFS adjustment(9)— (9)292 Other 7,171 6,126 13,297 9,322 Total noninterest income$32,633 $33,650 $66,283 $63,608 

Second Quarter of 2025 Compared to First Quarter of 2025 

Noninterest income decreased by $1.0 million to $32.6 million for the second quarter from $33.7 million for the first quarter due mainly to a $2.4 million decrease in dividends and gains on equity investments, offset partially by a $1.5 million increase in warrant income. The decrease in dividends and gains on equity investments was primarily related to fair value losses in the second quarter on SBIC investments compared to fair value gains in the first quarter. The increase in warrant income was driven by higher gains from warrant exercises.

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

Noninterest income increased by $2.7 million to $66.3 million for the six months ended June 30, 2025 from $63.6 million for the six months ended June 30, 2024 due mainly to increases of $4.0 million in other income and $2.8 million in commissions and fees, offset partially by decreases of $2.2 million in leased equipment income and $2.0 million in dividends and gains on equity investments. The increase in other income was due mainly to a $2.6 million increase in the fair value mark on the credit-linked notes and a $1