Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 455

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 455
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 an approximately $2.34 billion reference pool of previously purchased single-family residential mortgage loans at December 31, 2024. The notes are due June 27, 2052. Principal payments on the notes are based only on principal that is actually collected on these loans. The notes are reported at fair value of $118.8 million at December 31, 2024. See Note 3. Restricted Cash for information regarding the collateral for the notes and Note 14. Fair Value Option for additional information.FRBSF Bank Term Funding Program.  In March of 2023, the Bank participated in the FRBSF Bank Term Funding Program. As of December 31, 2024, there was no balance outstanding. As of December 31, 2023, the balance outstanding was $2.6 billion consisting of two term advances maturing in March 2024.Federal Funds Arrangements with Commercial Banks.  As of December 31, 2024, the Bank had unsecured lines of credit of $265.0 million in the aggregate with several correspondent banks for the purchase of overnight funds, subject to availability of funds. These lines are renewable annually and have no unused commitment fees. As of December 31, 2024 and December 31, 2023, there were no balances outstanding. The Bank is a member of the AFX, through which it may either borrow or lend funds on an overnight or short-term basis with a group of pre-approved commercial banks. The availability of funds changes daily. As of December 31, 2024 and December 31, 2023, the were no balances outstanding. 

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BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements

The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated:December 31, 20242023IssueMaturityRate IndexSeriesBalanceRate (1)BalanceRate (1)DateDate(Quarterly Reset) (Dollars in thousands)Subordinated notes, net (2)(7)$381,185 3.25 %$380,651 3.25 %4/30/20215/1/2031Fixed rate (3)Subordinated notes75,000 4.375 %75,000 4.375 %10/30/202010/30/2030Fixed rate (6)Trust V10,310 7.71