Banc of California Series F Preferred offers a ~7.65% current yield, with yield-to-call approaching ~8% due to an imminent dividend. BANC.PR.F trades slightly above par, making call risk material; allocation suits short-term fixed income strategies with prudent position sizing. The bank's CET1 ratio is below 10% but is expected to exceed 10% by early 2027, providing a reasonable equity buffer for preferred holders.