Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 55

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 55
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49.3 million in the other residential real estate mortgage loan portfolio class and $10.6 million in the commercial real estate mortgage loan portfolio class, offset partially by an increase of $7.1 million in the multi-family real estate mortgage loan portfolio class.

Foreclosed Assets

The following table presents foreclosed assets (primarily OREO) by property type as of the dates indicated:

December 31, Property Type202420232022(In thousands)Single-family residential$9,714 $7,394 $5,022 Total OREO, net9,714 7,394 5,022 Other foreclosed assets20 — — Total foreclosed assets$9,734 $7,394 $5,022 

During 2024, foreclosed assets increased by $2.3 million to $9.7 million at December 31, 2024 due mainly to transfers from loans of $20.0 million, offset partially by sales of $16.1 million.

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Classified and Special Mention Loans and Leases Held for Investment

The following table presents the credit risk ratings of our loans and leases held for investment as of the dates indicated:

December 31, Loan and Lease Credit Risk Ratings 202420232022(In thousands)Pass$22,120,846 $24,747,958 $27,924,599 Special mention1,097,315 513,312 566,259 Classified563,502 228,417 118,271 Total loans and leases held for investment$23,781,663 $25,489,687 $28,609,129 

Classified and special mention loans and leases fluctuate from period to period as a result of loan repayments and downgrades or upgrades from our ongoing active portfolio management.

The following table presents the classified and special mention credit risk rating categories for loans and leases held for investment by loan portfolio segment and class and the related net changes as of the dates indicated:

December 31, 2024December 31, 2023Increase (Decrease)Special Special Special ClassifiedMentionClassifiedMentionClassifiedMention(In thousands)Real estate mortgage:Commercial$301,278 $348,014 $75,739 $219,687 $225,539 $128,327 Multi-family113,164 202,690 74,954 108,356 38,210 94,