Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 79

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 79
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 $2,195,476 CMBS have contractual maturity dates, but require periodic payments based upon scheduled amortization terms. Actual principal collections on these securities usually occur more rapidly than the scheduled amortization terms because of prepayments made by obligors of the underlying loan collateral. 

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BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

Interest Income on Investment SecuritiesThe following table presents the composition of our interest income on investment securities for the periods indicated: Three Months EndedSix Months EndedJune 30,June 30,2025202420252024(In thousands)Taxable interest$30,766 $27,064 $62,213 $54,665 Non-taxable interest4,547 4,746 9,064 9,466 Dividend income2,303 2,026 4,201 4,008 Total interest income on investment securities$37,616 $33,836 $75,478 $68,139 

NOTE 4.  LOANS AND LEASES HELD FOR INVESTMENT

Our loans and leases held for investment are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired and purchased loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired loans are recognized as an adjustment to interest income over the contractual life of the loans primarily using the effective interest method or taken into income when the related loans are paid off or included in the carrying amount of loans that are sold.The following table summarizes the composition of our loans and leases held for investment as of the dates indicated:June 30,December 31,20252024(In thousands)Real estate mortgage$13,945,463 $13,605,595 Real estate construction and land (1)2,312,808 3,187,146 Commercial7,768,546 6,788,923 Consumer381,343 402,254 Total gross loans and leases held for investment24,408,160 23,983,918 Unearned discounts, net (2)(129,867)(175,713)Deferred fees, net(32,400)(26,542)Total loans and leases held for investment24,245,893 23,781,663 Allowance for loan and lease losses(229,344)(239,360)