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LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES | 12 Months Ended
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Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract] |
LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES | LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES Some financial instruments such as loan commitments, credit lines, letters of credit, and overdraft protection are issued to meet client financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Risk of credit loss exists up to the face amount of these instruments. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. Commitments to extend credit are generally made for periods of 30 days or less. The contractual amount of financial instruments with off-balance sheet risk was as follows for the dates indicated:
|  | December 31,
|  | 2019 |  | 2018
($ in thousands) |  | Fixed Rate |  | Variable Rate |  | Fixed Rate |  | Variable Rate
Commitments to extend credit (1) |  | $ | 473 |  |  | $ | 129,495 |  |  | $ | 2,167 |  |  | $ | 288,770 |
Unused lines of credit |  | 703 |  |  | 1,049,632 |  |  | 1,514 |  |  | 1,119,158 |
Letters of credit |  | 134 |  |  | 5,316 |  |  | 1,266 |  |  | 8,561 |
(1) | Included no commitments to extend credit related to discontinued operations at December 31, 2019 and 2018.
Other Commitments During the three months ended March 31, 2017, the Bank entered into certain definitive agreements which grant the Bank the exclusive naming rights to the Banc of California Stadium, a soccer stadium of Los Angeles Football Club (LAFC), as well as the right to be the official bank of LAFC. In exchange for the Bank’s rights as set forth in the agreements, the Bank agreed to pay LAFC $100.0 million over a period of 15 years, beginning in 2017 and ending in 2032. The advertising benefits of such rights are amortized on a straight-line basis and recorded as advertising and promotion expense and totaled $6.7 million for each of the years ended December 31, 2019 and 2018. As of December 31, 2019, the Bank has paid $20.8 million of the $100.0 million commitment. The prepaid commitment balance, net of amortization, was $7.4 million as of December 31, 2019, which was recognized as a prepaid asset and included in Other Assets in the Consolidated Statements of Financial Condition. We had unfunded commitments of $22.4 million, $7.6 million, and $501 thousand for Affordable Housing Fund Investment, SBIC, and Other Investments at December 31, 2019.

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- Definition The entire disclosure for commitments, contingencies, and guarantees. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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