Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 158

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 158
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Other liabilities474,038 736,739 Total liabilities30,172,931 32,515,320 Stockholders’ equity3,463,568 3,412,964 Total liabilities and stockholders' equity$33,636,499 $35,928,284 Net interest income $726,024 $690,765 Net interest rate spread 2.20 %1.72 %Net interest margin 3.13 %2.79 %Total deposits (2)$27,173,990 $428,544 2.11 %$28,853,489 $561,899 2.60 %Total funds (3)$29,698,893 $533,681 2.40 %$31,778,581 $697,421 2.93 %

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(1)    Total loans are net of deferred fees, related direct costs, and premiums and discounts, but exclude the allowance for loan losses. Includes net loan discount accretion of $51.5 million and $67.3 million for the nine months ended September 30, 2025 and 2024.

(2)    Total deposits is the sum of interest-bearing deposits and noninterest-bearing demand deposits. The cost of total deposits is calculated as annualized interest expense on total deposits divided by average total deposits. 

(3)    Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annualized total interest expense divided by average total funds.

Third Quarter of 2025 Compared to Second Quarter of 2025

Net interest income increased by $13.2 million to $253.4 million for the third quarter from $240.2 million for the second quarter, attributable primarily to the following:

•An increase of $10.4 million in interest income from loans due primarily to higher average yield driven mainly by higher rate on new loan production, a higher day count, and higher income from loan payoffs, including the payoff of a large commercial real estate loan.

•A decrease of $1.9 million in interest expense on deposits due primarily to lower average balances largely driven by lower brokered deposits and lower interest rates, partially offset by a higher day count.

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•An increase of $0.9 million in interest income from deposits in financial institutions driven mainly by higher average balances and a higher day count, partially offset by