Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 164

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 164
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 securities— — — (59,946)Dividends and gains (loss) on equity investments2,291 (114)4,500 7,964 Warrant income   433 1,227 1,365 65 LOCOM HFS adjustment— (9)(9)218 Other 6,991 7,171 20,288 20,011 Total noninterest income$34,285 $32,633 $100,568 $48,156 

Third Quarter of 2025 Compared to Second Quarter of 2025 

Noninterest income increased by $1.7 million to $34.3 million for the third quarter from $32.6 million for the second quarter due mainly to a $2.4 million increase in dividends and gains on equity investments, offset partially by a $0.8 million decrease in warrant income. The increase in dividends and gains on equity investments was primarily related to fair value gains in the third quarter on SBIC investments compared to fair value losses in the second quarter. The decrease in warrant income was driven by lower gains from warrant exercises.

Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024

Noninterest income increased by $52.4 million to $100.6 million for the nine months ended September 30, 2025  from $48.2 million for the nine months ended September 30, 2024 . The prior year period included a $59.9 million loss on the sale of $742 million of securities executed as part of a balance sheet repositioning initiative, which was partially offset by a $9.0 million decrease in leased equipment income, as the prior year benefited from higher gains from early lease terminations and sale of leased assets. 

90

Noninterest Expense

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

Three Months EndedNine Months EndedSeptember 30,June 30,September 30,Noninterest Expense2025202520252024(In thousands)Compensation$88,865 $88,362 $263,644 $263,735 Customer related expense26,227 26,577 80,555 97,799 Occupancy15,415 15,473 45,898 52,315 Information technology and data processing13,535 13,073 41,707 45,872 Insurance and assessments8