Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 17

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 2
Chunk 17
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 2025 from 13% for the first quarter of 2024. Average loans and leases decreased by $1.7 billion to $23.8 billion in the first quarter of 2025 from $25.5 billion in the first quarter of 2025, attributable primarily to the $1.95 billion sale of Civic loans in the third quarter of 2024. Additionally, average deposits in financial institutions decreased by $2.3 billion to $2.1 billion in the first quarter of 2025 from $4.4 billion in the first quarter of 2024 as excess cash was used to pay down higher-cost funding and we reduce cash target levels following the merger.

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Provision for Credit Losses

The following table sets forth the details of the provision for credit losses on loans and leases held for investment and securities and information regarding credit quality metrics for the periods indicated:

Three Months EndedMarch 31,December 31,March 31,202520242024(Dollars in thousands)Provision For Credit Losses:Addition to allowance for loan and lease losses $9,700 $11,500 $11,000 Addition to (reduction in) reserve for unfunded loan commitments500 1,500 (1,000)Total loan-related provision 10,200 13,000 10,000 Reduction in allowance for held-to-maturity securities(900)— — Reduction in allowance for available-for-sale securities— (199)— Total provision for credit losses$9,300 $12,801 $10,000 Credit Quality Metrics:Net charge-offs on loans and leases held for investment (1)$14,074 $26,485 $1,184 Annualized net charge-offs to average loans and leases0.24 %0.45 %0.02 %At quarter-end:Allowance for credit losses$264,557 $268,431 $320,074 Allowance for credit losses to loans and leases held for investment1.10 %1.13 %1.26 %Allowance for credit losses to nonaccrual loans and leases held for investment123.9 %141.6 %219.6 %Nonaccrual loans and leases held for investment $213,480 $189,605 $145,785 Nonaccrual loans and leases held for investment to loans and leases held for investment0