Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 180

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 180
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-offs$78,096 $90,531 Fair value mark on acquired loans65,100 96,844 Interest on nonaccrual loans4,569 4,866 Deferred compensation4,902 5,256 Foreclosed assets valuation allowance335 663 Net operating losses292,843 282,127 Accrued liabilities102,232 106,834 Unrealized loss from FDIC‑assisted acquisitions413 767 Unrealized loss on securities available-for-sale79,977 101,602 Unrealized loss on securities held-to-maturity62,162 71,197 Tax mark-to-market on loans250 — Goodwill73,863 81,607 Tax credits130,522 80,610 Lease liability35,447 45,742 FDIC indemnification asset7,028 9,273 Other3,159 1,582 Gross deferred tax assets940,898 979,501 Valuation allowance(19,015)(21,061)Deferred tax assets, net of valuation allowance921,883 958,440 Deferred Tax Liabilities:Core deposit and customer relationship intangibles27,292 29,885 Deferred loan fees and costs2,193 1,039 Unrealized gain on credit-linked notes1,452 2,212 Premises and equipment, principally due to differences in depreciation5,710 6,682 FHLB stock553 4,717 Tax mark-to-market on loans— 539 Subordinated debt14,789 15,862 Equity investments9,695 9,953 Operating leases110,415 110,522 ROU assets29,197 37,918 Gross deferred tax liabilities201,296 219,329 Total net deferred tax assets $720,587 $739,111 

186

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

Based upon our taxpaying history and estimates of taxable income over the years in which the items giving rise to the DTAs are deductible, management believes it is more likely than not the Company will realize the benefits of these DTAs. The Company's net DTAs decreased at December 31, 2024, compared to December 31, 2023 due primarily to a decrease in unrealized loss on AFS securities. The Company had net