Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 142

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 142
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On January 1, 2023, the Company adopted ASU 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" ("ASU 2022-02"), which eliminated the accounting guidance for troubled debt restructurings while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. This guidance was applied on a prospective basis. The following table presents our loan modifications made to borrowers experiencing financial difficulty by type of modification for the year indicated with balances as of the date indicated:Year Ended December 31, 2024Loan ModificationsBalances (Amortized Cost Basis) atDecember 31, 2024Combination - TermCombination - TermExtension andExtension andInterest RatePaymentTotal LoanTerm ExtensionPayment DelayReductionDelayModifications% of% of% of% of% ofLoanLoanLoanLoanLoanPortfolioPortfolioPortfolioPortfolioPortfolioBalanceClassBalanceClassBalanceClassBalanceClassBalanceClass(Dollars in thousands)Real estate mortgage:Commercial$125,027 2.7 %$45,957 1.0 %$13,587 0.3 %$13,899 0.3 %$198,470 4.3 %Other residential4,218 0.2 %— — %— — %— — %4,218 0.2 %Commercial:Asset-based1,940 0.1 %— — %— — %— — %1,940 0.1 %Venture capital5,722 0.4 %758 — %— — %12,064 0.8 %18,544 1.2 %Othercommercial3,428 0.1 %— — %— — %36 — %3,464 0.1 %Consumer9 — %— — %— — %— — %9 — %Total$140,344 $46,715 $13,587 $25,999 $226,645 

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

Year Ended December 31, 2023Loan ModificationsBalances (Am