Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 34

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 34
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2024 from $5.1 billion or 20% at December 31, 2023. The decrease was attributable primarily to investor-owned residential loans (Civic) decreasing by $2.1 billion or 95% and residential renovation loans (Civic) decreasing by $49.9 million or 70% due to loan sales and continued runoff during 2024.

•Commercial real estate construction and land loans increased by 5% to $799.1 million or 3% of total loans and leases held for investment at December 31, 2024 from $759.6 million or 3% at December 31, 2023 due primarily to production outpacing payoffs and paydowns.

•Residential real estate construction and land loans remained mostly flat and decreased by 1% to $2.4 billion or 10% of total loans and leases held for investment at December 31, 2024 from $2.4 billion or 9% at December 31, 2023.

•Asset-based loans and leases decreased by 5% to $2.1 billion or 9% of total loans and leases held for investment at December 31, 2024 from $2.2 billion or 9% at December 31, 2023. The lower balance was attributable primarily to the balance of premium finance loans decreasing by 25% to $546.4 million and equipment finance loans decreasing by 16% to $621.9 million, partially offset by lender finance loans increasing 49% to $727.9 million. This decrease in premium finance loans was due mainly to sales in connection with the Company's strategic plan to divest this non-core loan portfolio. In the third quarter of 2024, we moved Lender Finance back in our core portfolio and repurchased at par $319 million of the loans PacWest sold prior to the Merger and for which the bank had retained servicing.

•Venture capital loans increased by 6% to $1.5 billion or 6% of total loans and leases held for investment at December 31, 2024 from $1.4 billion or 6% at December 31, 2023. The increased balance was attributable primarily to higher equity fund loans, which increased by $83.9 million to $746.7 million at December 31, 2024 from $662.7 million at December 31, 2023 attributable to more venture capital activity during 2024