Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 150

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 150
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 real estate values, and adverse conditions in borrowers’ businesses. See further discussion in “- Balance Sheet Analysis - Allowance for Credit Losses on Loans and Leases Held for Investment” contained herein.

75

Noninterest Income

The following table summarizes noninterest income by category for the periods indicated:

Three Months EndedMarch 31,December 31,March 31,Noninterest Income202520242024(In thousands)Leased equipment income$10,784 $10,730 $11,716 Other commissions and fees9,958 8,231 8,142 Service charges on deposit accounts4,543 4,770 4,705 Gain (loss) on sale of loans and leases211 20 (448)Loss on sale of securities— (454)— Dividends and gains on equity investments2,323 18 3,068 Warrant (loss) income  (295)343 178 LOCOM HFS adjustment— (3)330 Other 6,126 5,334 6,125 Total noninterest income$33,650 $28,989 $33,816 

First Quarter of 2025 Compared to Fourth Quarter of 2024 

Noninterest income increased by $4.7 million to $33.7 million for the first quarter of 2025 from $29.0 million for the fourth quarter of 2024 due mainly to a $2.3 million increase in dividends and gains on equity investments, a $1.7 million increase in other commissions and fees, and a $0.8 million increase in other income. The increase in dividends and gains on equity investments was due to higher gains from SBIC investments. The increase in other commissions and fees was due to higher loan-related fee income and higher customer service fees. The increase in other income was mainly driven by a $0.7 million increase in the fair value mark on credit-linked notes.

First Quarter of 2025 Compared to First Quarter of 2024

Noninterest income decreased by $0.2 million to $33.7 million for the first quarter of 2025 compared to $33.8 million for the first quarter of 2024 due mainly to a $0.9 million decrease in leased equipment income, a $0.7 million decrease in dividends and gains on equity investments, and a $0.5 million decrease in warrant income, offset partially by a $1.8 million increase in