Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 85

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 85
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WS

Year Ended December 31, 202420232022(In thousands)Cash flows from financing activities:Net decrease in noninterest-bearing deposits(54,341)(5,722,546)(3,330,776)Net (decrease) increase in interest-bearing deposits(3,155,519)(4,359,678)2,269,353 Repayments of borrowings(2,623,756)(2,320,516)— Proceeds from borrowings1,100,000 2,506,300 1,763,119 Net proceeds from stock issuance— 382,900 — Net proceeds from preferred stock offering— — 498,516 Shares purchased under the Dividend Reinvestment Plan308 69 — Restricted stock surrendered(2,708)(5,419)(9,531)Preferred stock dividends paid(39,788)(39,788)(19,339)Common stock dividends paid(68,298)(48,881)(120,256)Net cash (used in) provided by financing activities(4,844,102)(9,607,559)1,051,086 Net (decrease) increase in cash and cash equivalents(2,875,364)3,137,354 (1,817,012)Cash and cash equivalents, beginning of year5,377,576 2,240,222 4,057,234 Cash and cash equivalents, end of year$2,502,212 $5,377,576 $2,240,222 Supplemental disclosures of cash flow information:Cash paid for interest$1,014,839 $1,063,981 $238,377 Cash (received) paid for income taxes(14,450)(68,168)97,254 Loans transferred to foreclosed assets19,978 20,915 7,985 Transfers from loans held for investment to loans held for sale1,930,285 3,162,615 76,253 Transfers to loans held for investment from loans held for sale1,179 513,914 — Transfer of securities available-for-sale to held-to-maturity— — 2,260,407 Effective November 30, 2023, the Company merged with PacWest Bancorpin a transaction summarized as follows:Fair value of assets acquired$8,405,477 Stock consideration (663,004)Liabilities