Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 111

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 111
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 "Leased equipment depreciation" in the condensed consolidated statements of earnings, according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Leased equipment income" in the condensed consolidated statements of earnings. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the six months ended June 30, 2025 and 2024.      The following table presents the rental payments to be received on operating leases as of the date indicated: 

June 30, 2025(In thousands)Period ending December 31, 2025$17,727 202634,344 202727,968 202824,925 202923,418 Thereafter45,229 Total undiscounted cash flows$173,611  

49

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 8.  BORROWINGS AND SUBORDINATED DEBT           

BorrowingsThe following table summarizes our borrowings as of the dates indicated:June 30, 2025December 31, 2024WeightedWeightedAverageAverageBalanceRateBalanceRate(Dollars in thousands)FHLB secured advances$1,700,000 3.98 %$1,100,000 3.93 %Credit-linked notes117,180 15.07 %118,838 15.29 %AFX short-term borrowings100,000 4.46 %— — %Senior Notes— — %174,000 5.25 %Total borrowings1,917,180 4.68 %1,392,838 5.06 %Acquisition discount on Senior Notes— (1,024)Total borrowings, net (1)$1,917,180 $1,391,814 ___________________(1)    All borrowings were held at the Bank level with the exception of the Senior Notes. The Senior Notes were repaid in full in April 2025.The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions.FHLB Secured Line of Credit. The Bank had secured financing capacity with the FHLB as of