Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 346

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 346
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 total deposits decreased by $3.2 billion, or 10.6%, to $27.2 billion at December 31, 2024, due primarily to decreases of $1.4 billion in brokered time deposits, $0.8 billion in money market accounts, and $0.7 billion in non-brokered time deposits. At December 31, 2024, noninterest-bearing deposits totaled $7.7 billion, or 28% of total deposits and interest-bearing deposits totaled $19.5 billion, or 72% of total deposits. Our deposit base is also diversified by client type. As of December 31, 2024, no individual deposit relationship represented more than 10% of our total deposits.

As of December 31, 2024, FDIC-insured deposits represented approximately 72% of total deposits, down from 76% as of December 31, 2023. The Bank’s spot deposit rates were 2.13% at December 31, 2024, down from 2.69% at December 31, 2023.

 The following table summarizes the maturities of time deposits as of the date indicated:

Time Deposits$250,000OverDecember 31, 2024and Under$250,000Total(In thousands)Maturities:Due in three months or less$1,112,045 $413,388 $1,525,433 Due in over three months through six months824,174 188,062 1,012,236 Due in over six months through 12 months1,083,041 428,242 1,511,283 Total due within 12 months3,019,260 1,029,692 4,048,952 Due in over 12 months through 24 months444,699 63,888 508,587 Due in over 24 months4,417 4,468 8,885 Total due over 12 months449,116 68,356 517,472 Total $3,468,376 $1,098,048 $4,566,424 

The following table summarizes the maturities of estimated uninsured time deposits as of the date indicated:

Uninsured Time December 31, 2024Deposits(In thousands)Maturities:Due in three months or less$116,993 Due in over three months