Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 483

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 483
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37,224 (448,285)33,767 74,827 30,690 Total Revenue$1,889,850 $37,224 $1,522,715 $33,767 $1,631,316 $30,690 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the year indicated:  Year Ended December 31, 202420232022(In thousands)Products and services transferred at a point in time$17,074 $15,761 $15,416 Products and services transferred over time20,150 18,006 15,274 Total revenue from contracts with customers$37,224 $33,767 $30,690 Contract BalancesThe following table provides information about receivables, contract assets and contract liabilities from contracts with customers as of the dates indicated:December 31, 20242023(In thousands)Receivables, which are included in "Other assets"$1,679 $1,615 Contract assets, which are included in "Other assets"$— $— Contract liabilities, which are included in "Accrued interest payable and other liabilities"$348 $418 

Contract liabilities relate to advance consideration received from customers for which revenue is recognized over the life of the contract. The change in contract liabilities for the year ended December 31, 2024 due to revenue recognized that was included in the contract liability balance at the beginning of the year was $70,000. 

191

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

NOTE 19.  STOCK-BASED COMPENSATION             At the special meeting of stockholders held on November 22, 2023, the Company's stockholders approved the Amended and Restated Banc of California, Inc. 2018 Stock Incentive Plan (the “Amended and Restated 2018 Plan”). The Company’s Amended and Restated 2018 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until November 30, 2033. The Amended and Restated 2018 Plan authorizes grants of stock-based compensation instruments to purchase or issue up to 10,717,882 shares. As of December 31, 2024, there were 4,955,607 shares available for grant