Company: BANC-PF
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001169770-25-000029
Chunk: 76

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 76
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 recorded in "Other assets" on the condensed consolidated balance sheets.

20

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

 December 31, 2024AllowanceforNetGrossGrossAmortizedCreditCarryingUnrealizedUnrealizedFairSecurity TypeCostLossesAmountGainsLossesValue (In thousands)Municipal securities $1,251,364 $(140)$1,251,224 $35 $(54,799)$1,196,460 Agency commercial MBS440,476 — 440,476 — (37,840)402,636 Private label commercial MBS355,342 — 355,342 — (26,226)329,116 U.S. Treasury securities189,985 — 189,985 — (16,702)173,283 Corporate debt securities70,482 (1,360)69,122 — (13,923)55,199 Total (1)$2,307,649 $(1,500)$2,306,149 $35 $(149,490)$2,156,694 __________________________(1)    Excludes accrued interest receivable of $13.4 million at December 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets.As of June 30, 2025, HTM securities with an amortized cost of $2.2 billion and a fair value of $2.1 billion were pledged as collateral primarily for the FRB secured line of credit and public deposits. Allowance for Credit Losses on Securities Held-to-MaturityCredit losses on HTM securities are recorded at the time of purchase, acquisition, or when the Company designates securities as held-to-maturity. Credit losses on HTM securities are representative of current expected credit losses that may be incurred over the life of the investment. Accrued interest receivable on HTM securities, which is included in "Other assets" on the condensed consolidated balance sheets, is excluded from the estimate of expected credit losses. HTM U.S. treasury securities and agency-backed MBS securities are considered to have no risk of loss as they are either explicitly or implicitly guaranteed by the U.S. government. The change in fair value in the HTM private label CMBS portfolio is solely driven by changes in interest rates