Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 200

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 200
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 in acquisitions, net of consideration paid— 26,310 — Net cash provided by investing activities— 26,310 — Cash flows from financing activities:Common stock repurchased and restricted stock surrendered(2,708)(5,419)(9,531)Net proceeds from stock issuance— 382,900 — Net proceeds from preferred stock offering— — 498,516 Shares purchased under the Dividend Reinvestment Plan308 69 — 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(110,486)288,881 349,390 Net (decrease) increase in cash and cash equivalents(93,503)(65,423)174,258 Cash and cash equivalents, beginning of year285,758 351,181 176,923 Cash and cash equivalents, end of year$192,255 $285,758 $351,181 

NOTE 24. SEGMENT REPORTING

The Company provides banking and treasury management services to small-, middle-market, and venture-backed businesses. The principal business activities of the Company are gathering deposits, originating and servicing loans and leases and investing in investment securities. The Company's CODM is the Chief Executive Officer.The Company operates as one reportable segment - Commercial Banking - based on how the CODM manages the business activities, which are described above. The CODM uses net earnings (loss) to evaluate income (loss) generated from segment assets, assess performance, decide how to allocate resources, determine dividend availability, establish management's compensation, and guide other strategic decisions. The accounting policies of the Commercial Banking segment are the same as those described in Note 1. Nature of Operations and Summary of Significant Accounting Policies. Additionally, the Company does not have intra-entity sales or transfers.

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

The following presents our operating segment income statement, including significant expense categories, regularly reviewed by the CODM, and the reconciliation of segment net earnings (loss) to consolidated net earnings (loss) for the year indicated:

 Year Ended December 31, 202420232022 (In thousands)Total interest income$1,812,705 $1,971,000 $1,556,489 Total interest expense886,655