Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 77

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 77
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. The Company has no knowledge of any underlying credit issues and the cash flows underlying the debt securities have not changed and are not expected to be impacted by changes in interest rates and, thus, there is no related ACL for this portfolio. The underlying bonds in the Company’s HTM municipal securities and HTM corporate debt securities portfolios are evaluated for credit losses in conjunction with management’s estimate of the ACL based primarily on credit ratings, and as of June 30, 2025, the Company had recorded an allowance for credit losses on securities held-to-maturity of $0.7 million.Securities Held-to-Maturity by Credit Quality IndicatorThe Company uses S&P, Moody's, Fitch, Kroll, and Egan Jones ratings as the credit quality indicators for its HTM securities. The following tables present our HTM securities portfolio at amortized cost by the lowest available credit rating as of the dates indicated:June 30, 2025Security TypeAAAAA+AAAA-ABBBNRTotal(In thousands)Amortized Cost:Municipal securities$566,732 $363,671 $230,548 $73,189 $1,660 $— $17,768 $1,253,568 Agency commercial MBS— 443,875 — — — — — 443,875 Private label commercial MBS357,825 — — — — — — 357,825 U.S. Treasury securities— 191,487 — — — — — 191,487 Corporate debt securities— — — — — 44,576 26,089 70,665 Total$924,557 $999,033 $230,548 $73,189 $1,660 $44,576 $43,857 $2,317,420 

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

December 31, 2024Security TypeAAAAA+AAAA-ABBBNRTotal(In thousands)Amortized Cost:Municipal securities$571,347 $369,072 $218,581 $72,952 $1,667 $— $17,745 $1,251,364 Agency commercial MBS— 440,476 — —