Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 445

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 445
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,616 $51,568 

160

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

Allowance for Credit LossesThe allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the years indicated:Year Ended December 31, 2024Allowance for Reserve forTotal Loan and Unfunded LoanAllowance forLease LossesCommitmentsCredit Losses(In thousands)Balance, beginning of year$281,687 $29,571 $311,258 Charge-offs(94,943)— (94,943)Recoveries9,116 — 9,116 Net charge-offs(85,827)— (85,827)Provision 43,500 (500)43,000 Balance, end of year$239,360 $29,071 $268,431 Year Ended December 31, 2023Allowance for Reserve forTotal Loan and Unfunded LoanAllowance forLease LossesCommitmentsCredit Losses(In thousands)Balance, beginning of year$200,732 $91,071 $291,803 Initial allowance on acquired PCD loans25,623 — 25,623 Charge-offs(63,428)— (63,428)Recoveries5,260 — 5,260 Net charge-offs (58,168)— (58,168)Provision113,500 (61,500)52,000 Balance, end of year $281,687 $29,571 $311,258 

161

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

NOTE 6.  PREMISES AND EQUIPMENT, NETThe following table presents the components of premises and equipment as of the dates indicated:December 31, 20242023(In thousands)Land$8,874 $8,874 Buildings95,410 92,891 Furniture, fixtures and equipment52,274 59,923 Leasehold improvements78,326 79,857