Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 168

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 168
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30, 2025 compared to $2.2 billion at December 31, 2024, due primarily to purchases of $444.5 million and a $72.6 million increase in the fair value of AFS securities resulting from lower interest rates, offset partially by $330.8 million of principal paydowns, maturities, and calls.

As of September 30, 2025, AFS securities had aggregate unrealized net after-tax losses in AOCI of $147.9 million compared to $200.1 million at December 31, 2024. The decrease in unrealized net losses on AFS securities was driven by a decline in interest rates, which positively impacted the fair values of these securities.

Securities Held-to-Maturity 

The following table presents the composition and duration of our HTM securities as of the dates indicated:

 September 30, 2025December 31, 2024Amortized% of DurationAmortized% of DurationSecurity TypeCostTotal(in years)CostTotal(in years) (Dollars in thousands)Municipal securities $1,236,645 54 %7.9$1,251,364 55 %8.0Agency commercial MBS445,605 19 %5.4440,476 19 %5.9Private label commercial MBS359,091 16 %5.0355,342 15 %5.6U.S. Treasury securities192,255 8 %5.2189,985 8 %5.9Corporate debt securities70,756 3 %4.170,482 3 %4.0Total securities held-to-maturity$2,304,352 100 %6.6$2,307,649 100 %7.0

HTM securities remained relatively flat at $2.3 billion at both September 30, 2025 and December 31, 2024.

As of September 30, 2025, HTM securities had aggregate unrealized net after-tax losses in AOCI of $139.7 million remaining from the balance established at the time of the AFS to HTM transfer on June 1, 2022, compared to $157.9 million at December 31, 2024.

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The following table shows the geographic composition of the majority of our HTM municipal securities portfolio as of the date indicated:

September 30,