Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 79

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 79
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,811 25,945 70,756 Total$— $172,996 $1,062,789 $1,068,567 $2,304,352 September 30, 2025Due AfterDue AfterDue One Year Five YearsDue WithinThroughThroughAfterSecurity TypeOne YearFive YearsTen YearsTen YearsTotal(In thousands)Fair Value:Municipal securities$— $103,176 $406,416 $694,397 $1,203,989 Agency commercial MBS— 66,670 358,157 — 424,827 Private label commercial MBS— — 36,229 312,395 348,624 U.S. Treasury securities— — 183,536 — 183,536 Corporate debt securities— — 41,321 21,325 62,646 Total$— $169,846 $1,025,659 $1,028,117 $2,223,622 CMBS have contractual maturity dates, but require periodic payments based upon scheduled amortization terms. Actual principal collections on these securities usually occur more rapidly than the scheduled amortization terms because of prepayments made by obligors of the underlying loan collateral. 

24

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

Interest Income on Investment SecuritiesThe following table presents the composition of our interest income on investment securities for the periods indicated: Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024(In thousands)Taxable interest$31,608 $28,576 $93,821 $83,241 Non-taxable interest4,400 4,622 13,464 14,088 Dividend income2,283 1,714 6,484 5,722 Total interest income on investment securities$38,291 $34,912 $113,769 $103,051 

NOTE 4.  LOANS AND LEASES HELD FOR INVESTMENT

Our loans and leases held for investment are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired and purchased loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired loans are recognized as an adjustment to interest income over the contractual life