Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 122

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 122
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 methodologies used to measure our assets recorded at fair value (under ASC Topic 820), and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825, as amended by ASU 2016-01 and ASU 2018-03), see Note 1. Nature of Operations and Summary of Significant Accounting Policies and Note 15. Fair Value Measurements to the Consolidated Financial Statements of the Company's Form 10-K.The Company also holds SBIC investments measured at fair value using the NAV per share practical expedient that are not required to be classified in the fair value hierarchy. At September 30, 2025, the fair value of these investments was $116.9 million.The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated:  Fair Value Measurements as ofSeptember 30, 2025Measured on a Recurring BasisTotalLevel 1Level 2Level 3(In thousands)Securities available-for-sale:Agency residential MBS$844,155 $— $844,155 $— Agency commercial MBS50,882 — 50,882 — Agency residential CMOs781,982 — 781,982 — Corporate debt securities256,948 — 254,623 2,325 Private label residential CMOs258,693 — 258,693 — Collateralized loan obligations206,474 — 206,474 — Private label commercial MBS10,274 — 10,274 — Asset-backed securities13,882 — 13,882 — SBA securities3,444 — 3,444 — Total securities available-for-sale$2,426,734 $— $2,424,409 $2,325 Equity investments with readily determinable fair values$3 $3 $— $— Derivatives (1):Derivative assetsInterest rate and foreign exchange contracts4,396 — 4,396 — Equity warrants 3,418 — — 3,418 Derivative liabilities Cash flow hedges4,394 — 4,394 — Interest rate and foreign exchange contracts4,343 — 4,343 — Credit-linked notes115,022 — — 115,022 ____________________(1)    For