Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 408

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 408
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 information provided to management to identify our reportable segments. We operated as one reportable segment - Commercial Banking. The factors considered in making this determination include the nature of products and services offered, geographic regions in which we operate and how information is reviewed by our CODM. See Note 24. Segment Reporting.(z) Advertising Costs Advertising costs are expensed as incurred. 

132

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

 (aa) Recently Issued Accounting Standards 

EffectiveEffect on the Financial Statements StandardDescriptionDateor Other Significant MattersASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThe standard, among other changes, improves annual income tax disclosures by requiring disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The enhanced income tax disclosure requirements apply on a prospective basis to annual financial statements for periods beginning after the effective date. However, retrospective application in all prior periods presented is permitted. Additionally, early adoption is permitted.Annual periods beginning after December 31, 2024The Company is evaluating the impact of this standard on its consolidated financial statements.

EffectiveEffect on the Financial Statements StandardDescriptionDateor Other Significant MattersASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement ExpensesThe standard includes requirements that an entity disclose in the notes to the financial statements specified information about certain costs and expenses, including the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) other amounts of depletion expense included in each relevant expense caption presented on the statement of operations. The standard also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses.Annual periods beginning after December 31, 2026, and interim reporting periods beginning after December 31, 2027The Company is evaluating the impact of this standard on its consolidated financial statements.

133

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

NOTE 2.  BUSINESS COMBINATIONS

On November 30, 2023 (the “Merger Date”), PacWest Banc