Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 69

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 69
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6 million at March 31, 2025 and $119.6 million at December 31, 2024. Starting in the second quarter of 2023, we began to pledge cash to secure the standby letters of credit that we have issued on behalf of our customers. As of March 31, 2025 and December 31, 2024, the balance of such restricted cash totaled $59.8 million and $59.3 million.

14

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 3. INVESTMENT SECURITIES     

Securities Available-for-Sale The following tables present amortized cost, gross unrealized gains and losses, and fair values of AFS securities as of the dates indicated: March 31, 2025GrossGrossAmortizedUnrealizedUnrealizedFairSecurity TypeCostGainsLossesValue (In thousands)Agency residential MBS$1,033,674 $— $(166,632)$867,042 Agency commercial MBS62,126 — (922)61,204 Agency residential CMOs579,676 2,541 (17,149)565,068 Municipal securities 602 — (5)597 Corporate debt securities289,077 423 (26,097)263,403 Private label residential CMOs334,859 126 (31,658)303,327 Collateralized loan obligations243,485 59 (659)242,885 Private label commercial MBS12,533 — (1,087)11,446 Asset-backed securities15,238 — (14)15,224 SBA securities4,123 — (261)3,862 Total (1)$2,575,393 $3,149 $(244,484)$2,334,058 _________________________(1)    Excludes accrued interest receivable of $13.0 million at March 31, 2025 which is recorded in "Other assets" on the condensed consolidated balance sheets. December 31, 2024GrossGrossAmortizedUnrealizedUnrealizedFairSecurity TypeCostGainsLossesValue (In thousands)Agency residential MBS$1,051,601 $— $(189,761