Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 30

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 30
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 presents the composition and durations of our HTM securities as of the dates indicated:

 December 31, 2024December 31, 2023Amortized% of DurationAmortized% of DurationSecurity TypeCostTotal(in years)CostTotal(in years) (Dollars in thousands)Municipal securities $1,251,364 55 %8.0 1,247,310 55 %8.1 Agency commercial MBS440,476 19 %5.9 433,827 19 %6.8 Private label commercial MBS355,342 15 %5.6 350,493 15 %6.3 U.S. Treasury securities189,985 8 %5.9 187,033 8 %6.7 Corporate debt securities70,482 3 %4.0 70,128 3 %4.4 Total securities held-to-maturity$2,307,649 100 %7.0 $2,288,791 100 %7.4 

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The following table shows the geographic composition of the majority of our HTM municipal securities portfolio as of the date indicated:

December 31, 2024Amortized% of Municipal Securities by StateCostTotal(Dollars in thousands) California$313,480 25 % Texas277,396 22 % Washington188,615 15 % Oregon79,992 6 % Maryland64,354 5 % Georgia55,324 4 % Colorado48,654 4 % Minnesota34,780 3 % Tennessee31,048 3 % Florida21,956 2 %Total of ten largest states1,115,599 89 %All other states135,765 11 %Total municipal securities held-to-maturity$1,251,364 100 %

The following table presents a summary of contractual rates and contractual maturities of our HTM securities as of the date indicated:

Due AfterDue AfterDue One YearFive YearsWithinThroughThroughDue AfterOne YearFive YearsTen YearsTen YearsTotalAmortizedAmortizedAmortizedAmortizedAmortizedDecember 31, 2024CostRate(1)CostRate(1)CostRate(1)CostRate(1)CostRate(1)(D