Company: BANC-PF
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001628280-25-009438
Chunk: 148

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 148
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. A loan is considered collateral-dependent, and is individually evaluated for reserve purposes, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes collateral-dependent loans held for investment by collateral type as of the dates indicated:December 31,20242023RealBusiness RealBusinessPropertyAssetsTotalPropertyAssetsTotal(In thousands)Real estate mortgage$167,060 $— $167,060 $47,952 $— $47,952 Commercial— 10,870 10,870 — 3,616 3,616      Total$167,060 $10,870 $177,930 $47,952 $3,616 $51,568 

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BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Consolidated Financial Statements

Allowance for Credit LossesThe allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the years indicated:Year Ended December 31, 2024Allowance for Reserve forTotal Loan and Unfunded LoanAllowance forLease LossesCommitmentsCredit Losses(In thousands)Balance, beginning of year$281,687 $29,571 $311,258 Charge-offs(94,943)— (94,943)Recoveries9,116 — 9,116 Net charge-offs(85,827)— (85,827)Provision 43,500 (500)43,000 Balance, end of year$239,360 $29,071 $268,431 Year Ended December 31, 2023Allowance for Reserve forTotal Loan and Unfunded LoanAllowance forLease LossesCommitmentsCredit Losses(In thousands)Balance, beginning of year$200,732 $91,071 $291,803 Initial allowance on acquired PCD loans25,623 — 25,623 Charge-offs(63,428)— (63,428)Recoveries5,260 — 5,260 Net charge-offs (58,168)—