CALIFORNIA BANCORP REPORTS THIRD QUARTER EARNINGS, HIGHLIGHTED BY STEADY LOAN GROWTH AND STRONG DEPOSIT GROWTH
California BanCorp reported Q3 2026 net income of $14.0 million, or $0.43 diluted EPS, down from $0.44 in Q2 and $0.48 a year ago. A sharply higher provision for credit losses of $3.2 million (including $4.6 million of net charge-offs from two commercial loans) drove the earnings decline, while net interest income rose to $44.1 million and NIM eased to 4.61%.
Key figures
- Eps
- 0.43
- Revenue
- 0
- Revenue Yoy
- 0
- Net income
- 14016000
- Buyback cost
- 4600000
- Total deposits
- 3480000000
- Efficiency ratio
- 53.00%
- Buyback avg price
- 21.81
- Dividend per share
- 0.12
- Shares repurchased
- 209348
- Net interest income
- 44144000
- Net interest margin
- 4.61%
- Nonperforming loans
- 9329000
- Return on avg assets
- 1.35%
- Total loans incl hfs
- 3160000000
- Provision for credit losses
- 3215000
- Tangible book value per share
- 14.22
- Return on avg tangible common equity
- 12.07%
AI analysis
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