Company: BANC-PF
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001169770-25-000024
Chunk: 105

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 105
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 to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions.FHLB Secured Line of Credit. The Bank had secured financing capacity with the FHLB as of March 31, 2025 of $6.9 billion, collateralized by a blanket lien on $10.5 billion of qualifying loans and $19.5 million of securities. As of March 31, 2025, there were $513.9 million in letters of credit pledged and $1.4 billion outstanding. As of December 31, 2024, there were $527.9 million in letters of credit pledged and $1.1 billion balance outstanding.The following table presents the interest rates and maturity dates of FHLB secured advances as of the date indicated:March 31, 2025MaturityBalanceRateDate(Dollars in thousands)Overnight advance$100,000 4.65 %04/01/2025Term advance179,842 4.57 %05/01/2025Term advance150,000 4.59 %06/26/2026Term advance150,000 4.63 %05/28/2027Term advance150,000 4.63 %06/03/2027Term advance150,000 4.39 %06/03/2027Callable term advance500,000 3.18 %09/18/2034Total FHLB secured advances$1,379,842 4.07 %FRBSF Secured Line of Credit.  The Bank has a secured line of credit with the FRBSF. As of March 31, 2025, the Bank had secured borrowing capacity of $5.8 billion collateralized by liens covering $5.3 billion of qualifying loans and $1.5 billion of securities. As of March 31, 2025 and December 31, 2024, there was no balance outstanding.Senior Notes. The Senior Notes are unsecured debt obligations and rank equally with our other present and future unsecured unsubordinated obligations. We make interest payments on the Senior Notes semi-annually in arrears. We have the option to redeem the Senior Notes either in whole or in part on or after January 15, 2025 (i.e., 90 days prior to the maturity date of April 15, 2025). Notification of no less than