Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 418

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 418
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,289)321,204 U.S. Treasury securities187,033 — 187,033 — (11,454)175,579 Corporate debt securities70,128 (1,360)68,768 — (21,157)47,611 Total (1)$2,288,791 $(1,500)$2,287,291 $1,760 $(120,735)$2,168,316 __________________________(1)    Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the consolidated balance sheets.As of December 31, 2024, HTM securities with an amortized cost of $2.2 billion and a fair value of $2.1 billion were pledged as collateral primarily for the FRB secured line of credit and public deposits.Allowance for Credit Losses on Securities Held-to-MaturityThe following tables present the changes by major security type in our allowance for credit losses on HTM securities for the years indicated:Year Ended December 31, 2024Allowance forProvision Allowance forCredit Losses,for Credit Losses, Beginning Credit End ofSecurity Typeof PeriodLossesCharge-offsRecoveriesPeriod(In thousands)Municipal securities$140 $— $— $— $140 Corporate debt securities1,360 — — — 1,360 Total$1,500 $— $— $— $1,500 Year Ended December 31, 2023Allowance forProvisionAllowance forCredit Losses,forCredit Losses,BeginningCreditEnd ofSecurity Typeof PeriodLossesCharge-offsRecoveriesPeriod(In thousands)Municipal securities$140 $— $— $— $140 Corporate debt securities1,360 — — — 1,360 Total$1,500 $— $— $— $1,500 

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

Credit losses on HTM securities are recorded at the time of purchase, acquisition, or when the Company designates securities as HTM. The allowance for credit losses on HTM securities is representative of current expected credit losses that may be incurred over the life of the investment. Accrued interest rece