Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 150

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 150
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 of acquired loans.In performing our annual goodwill impairment testing in the fourth quarter of 2024 we considered relevant events and circumstances that may affect the fair value or carrying amount of our reporting unit. The events and circumstances we considered included macroeconomic conditions, industry conditions, and our financial performance. Based on our qualitative assessment, we concluded that there were no conditions, changes in operations, or results that indicated a triggering event had occurred in the fourth quarter of 2024. Thus, a quantitative assessment was not required, and we determined that it was more likely than not that the fair value of the reporting unit was greater than its carrying value and there was no evidence of impairment.The following table presents the changes in the carrying amount of goodwill for the years indicated: Goodwill (In thousands)Balance, December 31, 2022$1,376,736 Impairment (1,376,736)Addition from the Merger with PacWest Bancorp198,627 Balance, December 31, 2023$198,627 Purchase accounting adjustments - Merger with PacWest Bancorp15,894 Balance, December 31, 2024$214,521 

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

Our other intangible assets with definite lives are CDI and CRI. CDI and CRI are amortized on an accelerated basis over their respective estimated useful lives and reviewed for impairment at least quarterly. The amortization expense represents the estimated decline in the value of the underlying deposits or customer relationships acquired. The following table presents the changes in CDI and CRI and the related accumulated amortization for the years indicated: Year Ended December 31, 202420232022 (In thousands)Gross Amount of CDI and CRI:   Balance, beginning of year$236,264 $91,550 $133,850 Addition from the PacWest Bancorp merger— 145,464 — Fully amortized portion(57,500)(750)(42,300)Balance, end of year178,764 236,264 91,550 Accumulated Amortization:Balance, beginning of year(70,787)(60,169)(88,893)Amortization expense(32,533)(11,368)(13,576)Fully amortized portion57,500 750 42,300 Balance, end of year(45,