Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 112

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 112
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BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

NOTE 8.  BORROWINGS AND SUBORDINATED DEBT           

BorrowingsThe following table summarizes our borrowings as of the dates indicated:September 30, 2025December 31, 2024WeightedWeightedAverageAverageBalanceRateBalanceRate(Dollars in thousands)FHLB secured advances$1,700,000 3.96 %$1,100,000 3.93 %Other short-term borrowings190,000 4.18 %— — %Credit-linked notes115,022 15.09 %118,838 15.29 %Senior Notes— — %174,000 5.25 %Total borrowings2,005,022 4.62 %1,392,838 5.06 %Acquisition discount on Senior Notes— (1,024)Total borrowings, net (1)$2,005,022 $1,391,814 ___________________(1)    All borrowings were held at the Bank level with the exception of the Senior Notes. The Senior Notes were repaid in full in April 2025.The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions.FHLB Secured Line of Credit. The Bank had secured financing capacity with the FHLB as of September 30, 2025 of $7.1 billion, collateralized by a blanket lien on $10.6 billion of qualifying loans and $20.1 million of securities. As of September 30, 2025, there were $577.4 million in letters of credit pledged and $1.7 billion outstanding. As of December 31, 2024, there were $527.9 million in letters of credit pledged and a $1.1 billion balance outstanding.The following table presents the interest rates and maturity dates of FHLB secured advances as of the date indicated:September 30, 2025MaturityFHLB Secured AdvancesBalanceRateDate(Dollars in thousands)Term advance$200,000 4.42 %10/06/2025Term advance (1)150