Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 104

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 104
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 operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "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 "Noninterest 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 three months ended March 31, 2025 and 2024.      The following table presents the rental payments to be received on operating leases as of the date indicated: 

March 31, 2025(In thousands)Period ending December 31, 2025$27,224 202634,348 202727,971 202824,925 202923,418 Thereafter45,229 Total undiscounted cash flows$183,115  

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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:March 31, 2025December 31, 2024WeightedWeightedAverageAverageBalanceRateBalanceRate(Dollars in thousands)FHLB secured advances$1,379,842 4.07 %$1,100,000 3.93 %Senior Notes174,000 5.25 %174,000 5.25 %Credit-linked notes117,196 15.07 %118,838 15.29 %Total borrowings1,671,038 4.96 %1,392,838 5.06 %Acquisition discount on senior notes(256)(1,024)Total borrowings, net (1)$1,670,782 $1,391,814 ___________________(1)    All borrowings were held at the Bank level with the exception of the 5.25% Senior Notes due April 2025 ("Senior Notes"), which were issued at the holding company level.The Bank has established secured and unsecured lines of credit under which it may borrow funds from time