Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 316

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 316
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36,628,548 Stockholders’ equity3,431,364 2,994,428 3,853,033 Total liabilities and stockholders' equity$35,333,488 $40,293,380 $40,481,581 Net interest income (1) $926,050 $749,472 $1,304,504 Net interest rate spread (1)1.79 %1.07 %3.02 %Net interest margin (1)2.85 %1.98 %3.49 %Total deposits (4)$28,429,796 $715,984 2.52 %$28,681,555 $748,423 2.61 %$34,234,771 $200,449 0.59 %Total funds (5)$31,208,143 $886,655 2.84 %$36,626,002 $1,223,872 3.34 %$36,060,255 $265,727 0.74 %

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(1)    Tax equivalent.

(2)    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 $88.0 million and $9.7 million for 2024 and 2023 and net loan premium amortization of $17.9 million for 2022, respectively.

(3)    Includes tax-equivalent adjustments of $0.0 million, $2.3 million, $7.9 million for the years ended 2024, 2023, and 2022, respectively, related to tax-exempt income on loans. Includes tax-equivalent adjustments of $0.0 million, $0.0 million, and $5.9 million for 2024, 2023, and 2022, respectively, related to tax-exempt income on investment securities. The federal statutory rate utilized was 21%. 

(4)    Total deposits is the sum of total 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.

(5)    Total funds is the sum of total interest-bearing liabilities and noninterest-bearing demand deposits. The cost of total funds is calculated as annual