Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 467

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 467
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:Fair Value Measurement as ofDecember 31, 2024Measured on a Non‑Recurring BasisTotalLevel 1Level 2Level 3(In thousands)Individually evaluated loans and leases $58,948 $— $45,962 $12,986 OREO3,372 — 3,372 — Total non-recurring$62,320 $— $49,334 $12,986  Fair Value Measurement as ofDecember 31, 2023Measured on a Non‑Recurring BasisTotalLevel 1Level 2Level 3(In thousands)Individually evaluated loans and leases $6,402 $— $4,051 $2,351 OREO3,422 — 3,422 — Total non-recurring$9,824 $— $7,473 $2,351 The following table presents losses recognized on assets measured on a nonrecurring basis for the years indicated:Year Ended December 31, Loss on Assets Measured on a Non‑Recurring Basis202420232022(In thousands)Individually evaluated loans and leases $35,699 $4,403 $6,532 OREO983 1,307 29 Total net loss$36,682 $5,710 $6,561 

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

The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated:December 31, 2024ValuationUnobservableInput orWeightedAssetFair ValueTechniqueInputsRangeAverage(Dollars in thousands)Individually evaluated loans and leases$5,815Discounted cash flowsDiscount rates8.00% - 8.25%8.03%Individually evaluated loans and leases7,171Third-party appraisalsNo discountsTotal non-recurring Level 3$12,986ASC Topic 825, “Financial Instruments,” requires disclosure of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate such fair values. Additionally, certain financial instruments and all nonfinancial instruments are excluded from the applicable disclosure requirements.The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated:December 31, 2024Carrying Estimated Fair Value