Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 464

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 464
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Asset-backed securities15,600 — 15,600 — SBA securities4,200 — 4,200 — Total securities available-for-sale$2,246,839 $— $2,244,709 $2,130 Equity investments with readily determinable fair values$3 $3 $— $— Derivatives (1):Derivative assets:Cash flow hedges1,442 — 1,442 — Interest rate and foreign exchange contracts7,031 — 7,031 — Equity warrants 3,763 — — 3,763 Derivative liabilities:Interest rate and foreign exchange contracts7,562 — 7,562 — Credit-linked notes118,838 — — 118,838 ____________________(1)    For information regarding derivative instruments, see Note 12. Derivatives.

176

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

Fair Value Measurements as ofDecember 31, 2023Measured on a Recurring BasisTotalLevel 1Level 2Level 3(In thousands)Securities available‑for‑sale:Agency residential MBS$1,187,609 $— $1,187,609 $— Municipal securities28,083 — 28,083 — Agency commercial MBS253,306 — 253,306 — Agency residential CMOs284,334 — 284,334 — U.S. Treasury securities4,968 4,968 — — Corporate debt securities267,232 — 226,983 40,249 Private label commercial MBS20,813 — 20,813 — Collateralized loan obligations108,416 — 108,416 — Private label residential CMOs158,412 — 158,412 — Asset-backed securities19,952 — 19,952 — SBA securities13,739 — 13,739 — Total securities available-for-sale$2,346,864 $4,968 $2,301,647 $40,249 Equity investments with readily determinable fair values$1 $1 $— $— Derivatives (1):Derivative assets:Interest rate