Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 466

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 466
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 recurring basis for the years indicated: Year Ended December 31, Level 3 Corporate Debt Securities20242023(In thousands)Balance, beginning of year$40,249 $— Total included in other comprehensive income 30 (11,501)Transfer from Level 2— 51,750 Transfer to Level 2(38,149)— Balance, end of year$2,130 $40,249 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end$(870)$(11,501)The following table summarizes activity for our Level 3 equity warrants measured at fair value on a recurring basis for the years indicated: Year Ended December 31, Level 3 Equity Warrants202420232022(In thousands)Balance, beginning of year  $3,689 $4,048 $3,555 Total included in earnings408 (718)2,490 Exercises and settlements (1)(829)(218)(2,675)Issuances516 613 696 Transfers to Level 1 (equity investments with readily determinable fair values)(21)(36)(18)Balance, end of year$3,763 $3,689 $4,048 ______________________(1)    Includes the exercise of warrants that upon exercise become equity securities in public companies. These are often subject to lock-up restrictions that must be met before the equity security can be sold, during which time they are reported as equity investments with readily determinable fair values.  

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

The following table summarizes activity for our Level 3 credit-linked notes measured at fair value on a recurring basis for the year indicated: Year Ended December 31,Level 3 Credit-Linked Notes202420232022(In thousands)Balance, beginning of year  $123,116 $132,030 $— Total included in earnings(1,411)5,404 911 Total included in other comprehensive income2,589 (7,794)— Issuances— — 132,815 Principal payments(5,456)(6,524)(1,696)Balance, end of year$118,838 $123,116 $132,030 The following tables present assets measured at fair value on a non‑recurring basis as of the dates indicated