Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 74

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 74
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— 15,600 (74)SBA securities— — 4,200 (364)4,200 (364)Total$564,892 $(3,247)$1,365,958 $(277,257)$1,930,850 $(280,504)

20

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

The securities that were in an unrealized loss position at September 30, 2025, were considered impaired and required further review to determine if the unrealized losses were credit-related. As of September 30, 2025, the Company had recorded an allowance for credit losses on AFS securities of $0.8 million on one corporate debt security. Except for the one corporate debt security noted, we concluded the unrealized losses were a result of the level of market interest rates relative to the types of securities and pricing changes caused by shifting supply and demand dynamics and not a result of downgraded credit ratings or other indicators of deterioration of the underlying issuers' ability to repay. We also considered the seniority of the tranches and U.S. government agency guarantees, if any, to assess whether an unrealized loss was credit-related. Further, we do not currently intend to sell any of the securities in an unrealized loss position and it is not more likely than not the Company will be required to sell these securities before their anticipated recovery. As such, we recognized the unrealized losses in "Accumulated other comprehensive loss, net" of "Stockholders' equity" on the condensed consolidated balance sheets.Contractual Maturities of Securities Available-for-SaleThe following tables present the contractual maturities of our AFS securities portfolio based on amortized cost and fair value as of the dates indicated:September 30, 2025Due AfterDue AfterDue One Year Five YearsDue WithinThroughThroughAfterSecurity TypeOne YearFive YearsTen YearsTen YearsTotal(In thousands)Amortized Cost:Agency residential MBS$— $— $— $991,290 $991,290 Agency commercial MBS— 40,100 — 11,912 52,012 Agency residential CMOs— — 14,093 780,404 794,497 Corporate debt securities6,750 32,215 237,533 — 276,498 Private label residential CMOs— —