XML 38 R29.htm IDEA: XBRL DOCUMENT
v3.23.3

FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Assets Measured on a Recurring Basis | The following table presents our financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated:
|  |  |  | Fair Value Measurement Level
($ in thousands) |  | Carrying Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2023 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
SBA loan pools securities |  | $ | 8,699 |  |  | $ | — |  |  | $ | 8,699 |  |  | $ | — |
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities |  | 76,844 |  |  | — |  |  | 76,844 |  |  | — |
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations |  | 85,832 |  |  | — |  |  | 85,832 |  |  | — |
Non-agency residential mortgage-backed securities |  | 104,960 |  |  | — |  |  | 104,960 |  |  | — |
Collateralized loan obligations |  | 483,804 |  |  | — |  |  | 483,804 |  |  | — |
Corporate debt securities |  | 154,915 |  |  | — |  |  | 154,915 |  |  | — |
Derivative assets: |  |  |  |  |  |  |  |
Contingent forward loan sale agreement |  | 34,902 |  |  | — |  |  | 34,902 |  |  | — |
Interest rate swaptions |  | 27,003 |  |  | — |  |  | 27,003 |  |  | — |
Cash flow hedges |  | 5,874 |  |  | — |  |  | 5,874 |  |  | — |
Interest rate swaps and foreign exchange contracts |  | 2,846 |  |  | — |  |  | 2,846 |  |  | — |
Liabilities |  |  |  |  |  |  |  |
Derivative liabilities: |  |  |  |  |  |  |  |
Interest rate swaps and foreign exchange contracts(1) |  | 2,799 |  |  | — |  |  | 2,799 |  |  | — |
December 31, 2022 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
SBA loan pools securities |  | $ | 11,187 |  |  | $ | — |  |  | $ | 11,187 |  |  | $ | — |
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities |  | 40,206 |  |  | — |  |  | 40,206 |  |  | — |
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations |  | 93,191 |  |  | — |  |  | 93,191 |  |  | — |
Municipal securities |  | — |  |  | — |  |  | — |  |  | — |
Non-agency residential mortgage-backed securities |  | 80,492 |  |  | — |  |  | 80,492 |  |  | — |
Collateralized loan obligations |  | 476,603 |  |  | — |  |  | 476,603 |  |  | — |
Corporate debt securities |  | 166,618 |  |  | — |  |  | 166,618 |  |  | — |
Derivative assets: |  |  |  |  |  |  |  |
Interest rate swaps and foreign exchange contracts |  | 2,292 |  |  | — |  |  | 2,292 |  |  | — |
Liabilities |  |  |  |  |  |  |  |
Derivative liabilities: |  |  |  |  |  |  |  |
Interest rate swaps and foreign exchange contracts(1) |  | 2,251 |  |  | — |  |  | 2,251 |  |  | — |
(1)Included in accrued expenses and other liabilities in the consolidated statements of financial condition.
Schedule of Fair Value Liabilities Measured on a Recurring Basis | The following table presents our financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated:
|  |  |  | Fair Value Measurement Level
($ in thousands) |  | Carrying Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2023 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
SBA loan pools securities |  | $ | 8,699 |  |  | $ | — |  |  | $ | 8,699 |  |  | $ | — |
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities |  | 76,844 |  |  | — |  |  | 76,844 |  |  | — |
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations |  | 85,832 |  |  | — |  |  | 85,832 |  |  | — |
Non-agency residential mortgage-backed securities |  | 104,960 |  |  | — |  |  | 104,960 |  |  | — |
Collateralized loan obligations |  | 483,804 |  |  | — |  |  | 483,804 |  |  | — |
Corporate debt securities |  | 154,915 |  |  | — |  |  | 154,915 |  |  | — |
Derivative assets: |  |  |  |  |  |  |  |
Contingent forward loan sale agreement |  | 34,902 |  |  | — |  |  | 34,902 |  |  | — |
Interest rate swaptions |  | 27,003 |  |  | — |  |  | 27,003 |  |  | — |
Cash flow hedges |  | 5,874 |  |  | — |  |  | 5,874 |  |  | — |
Interest rate swaps and foreign exchange contracts |  | 2,846 |  |  | — |  |  | 2,846 |  |  | — |
Liabilities |  |  |  |  |  |  |  |
Derivative liabilities: |  |  |  |  |  |  |  |
Interest rate swaps and foreign exchange contracts(1) |  | 2,799 |  |  | — |  |  | 2,799 |  |  | — |
December 31, 2022 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
SBA loan pools securities |  | $ | 11,187 |  |  | $ | — |  |  | $ | 11,187 |  |  | $ | — |
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities |  | 40,206 |  |  | — |  |  | 40,206 |  |  | — |
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations |  | 93,191 |  |  | — |  |  | 93,191 |  |  | — |
Municipal securities |  | — |  |  | — |  |  | — |  |  | — |
Non-agency residential mortgage-backed securities |  | 80,492 |  |  | — |  |  | 80,492 |  |  | — |
Collateralized loan obligations |  | 476,603 |  |  | — |  |  | 476,603 |  |  | — |
Corporate debt securities |  | 166,618 |  |  | — |  |  | 166,618 |  |  | — |
Derivative assets: |  |  |  |  |  |  |  |
Interest rate swaps and foreign exchange contracts |  | 2,292 |  |  | — |  |  | 2,292 |  |  | — |
Liabilities |  |  |  |  |  |  |  |
Derivative liabilities: |  |  |  |  |  |  |  |
Interest rate swaps and foreign exchange contracts(1) |  | 2,251 |  |  | — |  |  | 2,251 |  |  | — |
(1)Included in accrued expenses and other liabilities in the consolidated statements of financial condition.
Schedule of Assets and Liabilities Measured on Non-recurring Basis | The following table presents our financial assets and liabilities measured at fair value on a non-recurring basis as of the dates indicated:
|  |  |  | Fair Value Measurement Level
($ in thousands) |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
September 30, 2023 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Individually evaluated loans: |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 756 |  |  | $ | — |  |  | $ | — |  |  | $ | 756 |
SBA |  | 9 |  |  | — |  |  | — |  |  | 9 |
Other real estate owned: |  |  |  |  |  |  |  |
Single family residential |  | 882 |  |  | — |  |  | — |  |  | 882 |
December 31, 2022 |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |
Individually evaluated loans: |  |  |  |  |  |  |  |
Single family residential mortgage |  | $ | 3,600 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,600 |
Commercial and industrial |  | 7,115 |  |  | — |  |  | — |  |  | 7,115 |
SBA |  | 3,704 |  |  | — |  |  | — |  |  | 3,704 |
Schedule of Gains and (Losses) Recognized on Assets Measured at Fair Value on Non-recurring Basis | The following table presents the gains (losses) recognized on assets measured at fair value on a non-recurring basis for the periods indicated:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
($ in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Individually evaluated loans: |  |  |  |  |  |  |  |
Single family residential mortgage |  | $ | — |  |  | $ | 135 |  |  | $ | (43) |  |  | $ | (205) |
Commercial and industrial |  | (9,994) |  |  | (441) |  |  | (22,294) |  |  | (1,639) |
SBA |  | (154) |  |  | (35) |  |  | (229) |  |  | (207) |
Other consumer |  | (95) |  |  | — |  |  | (265) |  |  | (243) |
Commercial real estate |  | — |  |  | — |  |  | (300) |  |  | — |
Other real estate owned: |  |  |  |  |  |  |  |
Single family residential |  | — |  |  | — |  |  | (165) |  |  | — |
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments | Estimated Fair Values of Financial Instruments The following table presents the carrying amounts and estimated fair values of financial assets and liabilities as of the dates indicated:
|  | Carrying Amount |  | Fair Value Measurement Level
($ in thousands) |  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
September 30, 2023 |  |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 310,985 |  |  | $ | 310,985 |  |  | $ | — |  |  | $ | — |  |  | $ | 310,985 |
Securities held-to-maturity |  | 328,287 |  |  | — |  |  | 250,285 |  |  | — |  |  | 250,285 |
Securities available-for-sale |  | 915,054 |  |  | — |  |  | 915,054 |  |  | — |  |  | 915,054 |
Federal Home Loan Bank and other bank stock |  | 60,336 |  |  | — |  |  | 60,336 |  |  | — |  |  | 60,336 |
Loans receivable, net of allowance for credit losses |  | 6,886,642 |  |  | — |  |  | — |  |  | 6,261,148 |  |  | 6,261,148 |
Accrued interest receivable |  | 39,494 |  |  | 39,494 |  |  | — |  |  | — |  |  | 39,494 |
Derivative assets |  | 70,625 |  |  | — |  |  | 70,625 |  |  | — |  |  | 70,625 |
Financial liabilities |  |  |  |  |  |  |  |  |  |
Deposits |  | 6,640,630 |  |  | 5,054,976 |  |  | 1,576,721 |  |  | — |  |  | 6,631,697 |
Advances from Federal Home Loan Bank and Federal Reserve Bank borrowings |  | 1,008,293 |  |  | — |  |  | 974,319 |  |  | — |  |  | 974,319 |
Other borrowings |  | 185,802 |  |  | — |  |  | 185,802 |  |  | — |  |  | 185,802 |
Long-term debt |  | 274,279 |  |  | — |  |  | 261,313 |  |  | — |  |  | 261,313 |
Derivative liabilities(1) |  | 2,799 |  |  | — |  |  | 2,799 |  |  | — |  |  | 2,799 |
Accrued interest payable |  | 21,187 |  |  | 21,187 |  |  | — |  |  | — |  |  | 21,187 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 228,896 |  |  | $ | 228,896 |  |  | $ | — |  |  | $ | — |  |  | $ | 228,896 |
Securities held-to-maturity |  | 328,641 |  |  | — |  |  | 262,460 |  |  | — |  |  | 262,460 |
Securities available-for-sale |  | 868,297 |  |  | — |  |  | 868,297 |  |  | — |  |  | 868,297 |
Federal Home Loan Bank and other bank stock |  | 57,092 |  |  | — |  |  | 57,092 |  |  | — |  |  | 57,092 |
Loans receivable, net of allowance for credit losses |  | 7,029,078 |  |  | — |  |  | — |  |  | 6,526,916 |  |  | 6,526,916 |
Accrued interest receivable |  | 37,942 |  |  | 37,942 |  |  | — |  |  | — |  |  | 37,942 |
Derivative assets |  | 2,292 |  |  | — |  |  | 2,292 |  |  | — |  |  | 2,292 |
Financial liabilities |  |  |  |  |  |  |  |  |  |
Deposits |  | 7,120,921 |  |  | 5,931,500 |  |  | 1,175,857 |  |  | — |  |  | 7,107,357 |
Advances from Federal Home Loan Bank |  | 727,348 |  |  | — |  |  | 699,730 |  |  | — |  |  | 699,730 |
Long-term debt |  | 274,906 |  |  | — |  |  | 269,673 |  |  | — |  |  | 269,673 |
Derivative liabilities(1) |  | 2,251 |  |  | — |  |  | 2,251 |  |  | — |  |  | 2,251 |
Accrued interest payable |  | 7,004 |  |  | 7,004 |  |  | — |  |  | — |  |  | 7,004 |
(1)Included in accrued expenses and other liabilities in the consolidated statements of financial condition.

X
- Definition Fair Value, Assets Measured on Nonrecurring Basis, Schedule of Gain (Losses) [Table Text Block] + References No definition available. + Details
Name: | banc_FairValueAssetsMeasuredOnNonrecurringBasisScheduleOfGainLossesTableTextBlock
Namespace Prefix: | banc_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration