Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 28

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 28
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416 5 %0.1 102,261 2 %— Corporate debt securities257,712 12 %1.4 267,232 11 %1.9 311,905 7 %2.7 Agency commercial MBS51,564 2 %1.9 253,306 11 %3.4 487,606 10 %4.7 Asset-backed securities15,600 1 %0.1 19,952 1 %— 22,413 — %— Private label commercial MBS12,372 1 %3.6 20,813 1 %2.1 26,827 1 %2.3 SBA securities4,200 — %3.2 13,739 — %3.2 17,250 — %2.5 Municipal securities594 — %3.7 28,083 1 %4.5 339,326 7 %5.6 U.S. Treasury securities— — %— 4,968 — %0.1 670,070 14 %4.9 Total securitiesavailable-for-sale$2,246,839 100 %4.4 $2,346,864 100 %5.9 $4,843,487 100 %5.9 

Effective June 1, 2022, the Company transferred $2.3 billion in fair value of municipal securities, agency commercial MBS, private label commercial MBS, U.S. Treasury securities, and corporate debt securities from AFS to HTM. The unrealized losses which became part of the securities' amortized cost basis, along with the related unrealized losses included in accumulated other comprehensive income, are being amortized over the remaining life of the transferred securities as effective yield adjustments using the interest method. As a result, there is no impact on the consolidated statements of earnings (loss).

77

The following table presents a summary of contractual rates and contractual maturities of our AFS securities as of the date indicated:

Due AfterDue AfterDue One YearFive YearsWithinThroughThroughDue AfterOne YearFive YearsTen YearsTen YearsTotalFairFairFairFairFairDecember 31, 2024ValueRate(1)ValueRate(1)ValueRate(1)Value