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FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS
9 Months Ended
Sep. 30, 2015
Banking and Thrift [Abstract]  
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS

At September 30, 2015, $400.0 million of the Bank's advances from the FHLB were fixed-rate and had interest rates ranging from 0.34 percent to 1.61 percent with a weighted average interest rate of 0.62 percent and $430.0 million of the Bank’s advances from the FHLB were variable-rate and had a weighted average interest rate of 0.20 percent. At December 31, 2014, $400.0 million of the Bank’s advances from the FHLB were fixed-rate and had interest rates ranging from 0.19 percent to 0.82 percent with a weighted average interest rate of 0.31 percent, and $233.0 million of the Bank’s advances from the FHLB were variable-rate and had a weighted average interest rate of 0.27 percent.

Each advance is payable at its maturity date. Advances paid early are subject to a prepayment penalty. At September 30, 2015 and December 31, 2014, the Bank’s advances from the FHLB were collateralized by certain real estate loans with an aggregate unpaid principal balance of $1.63 billion and $1.84 billion, respectively. The Bank’s investment in capital stock of the FHLB of San Francisco totaled $22.4 million and $29.8 million at September 30, 2015 and December 31, 2014, respectively. Based on this collateral and the Bank’s holdings of FHLB stock, the Bank was eligible to borrow an additional $554.0 million at September 30, 2015.

The Bank maintained a line of credit of $98.4 million from the Federal Reserve Discount Window, to which the Bank pledged loans with a carrying value of $133.3 million with no outstanding borrowings at September 30, 2015. The Bank also maintained available unsecured federal funds lines of credit of $85.0 million and potential borrowings under repurchase agreements up to $361.4 million at September 30, 2015.

On March 30, 2015, Banc of California, Inc. established a line of credit of $20.0 million with an unaffiliated financial institution. The line has a maturity date of March 28, 2016 and a floating interest rate equal to a LIBOR rate plus 2.25 percent or a prime rate. The proceeds of the line are to be used for working capital purposes. The Company had no outstanding borrowings under this line of credit at September 30, 2015.