Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 157

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 157
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 December 31, 2024, collateralized by a blanket lien on $10.5 billion of qualifying loans and $19.8 million of securities. As of December 31, 2024, there were $527.9 million in letters of credit pledged and $1.1 billion balances outstanding. As of December 31, 2023, there were $243.8 million in letters of credit pledged and no balances outstanding,

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

The following table presents the interest rates and maturity dates of FHLB secured advances as of the dates indicated:December 31, 2024MaturityBalanceRateDate(Dollars in thousands)Term advance$150,000 4.59 %6/26/2026Term advance150,000 4.63 %5/28/2027Term advance150,000 4.63 %6/3/2027Term advance150,000 4.39 %6/3/2027Callable term advance500,000 3.18 %9/18/2034Total FHLB secured advances$1,100,000 3.93 %FRBSF Secured Line of Credit.  The Bank has a secured line of credit with the FRBSF. As of December 31, 2024, the Bank had secured borrowing capacity of $6.3 billion collateralized by liens covering $5.9 billion of qualifying loans and $1.5 billion of securities. As of December 31, 2024 and 2023, there was no balances outstanding.Senior Notes. The Senior Notes are unsecured debt obligations and rank equally with our other present and future unsecured unsubordinated obligations. We make interest payments on the Senior Notes semi-annually in arrears. We have the option to redeem the Senior Notes either in whole or in part on or after January 15, 2025 (i.e., 90 days prior to the maturity date of April 15, 2025). Notification of no less than 30 nor more than 60 days is required for redemption. The Senior Notes will be redeemable at a price equal to 100% of the principal amount of the Senior Notes to be redeemed plus accrued and unpaid interest to the date of redemption.Line of Credit Arrangement with Commercial Bank.  On December 23, 2024