Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 26

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 26
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.4 Agency commercial MBS50,882 2 %3.4 51,564 2 %1.9 Asset-backed securities13,882 — %0.1 15,600 1 %0.1 Private label commercial MBS10,274 — %3.3 12,372 1 %3.6 SBA securities3,444 — %3.3 4,200 — %3.2 Municipal securities — — %— 594 — %3.7 Total securities available-for-sale$2,426,734 100 %4.2 $2,246,839 100 %4.4 

AFS securities increased by $179.9 million to $2.4 billion at September 30, 2025 compared to $2.2 billion at December 31, 2024, due primarily to purchases of $444.5 million and a $72.6 million increase in the fair value of AFS securities resulting from lower interest rates, offset partially by $330.8 million of principal paydowns, maturities, and calls.

As of September 30, 2025, AFS securities had aggregate unrealized net after-tax losses in AOCI of $147.9 million compared to $200.1 million at December 31, 2024. The decrease in unrealized net losses on AFS securities was driven by a decline in interest rates, which positively impacted the fair values of these securities.

Securities Held-to-Maturity 

The following table presents the composition and duration of our HTM securities as of the dates indicated:

 September 30, 2025December 31, 2024Amortized% of DurationAmortized% of DurationSecurity TypeCostTotal(in years)CostTotal(in years) (Dollars in thousands)Municipal securities $1,236,645 54 %7.9$1,251,364 55 %8.0Agency commercial MBS445,605 19 %5.4440,476 19 %5.9Private label commercial MBS359,091 16 %5.0355,342 15 %5.6U.S. Treasury securities192,255 8 %5.2189,985 8 %5.9Corporate debt securities70,756