CALIFORNIA BANCORP REPORTS STRONG SECOND QUARTER EARNINGS, SIGNIFICANT LOAN GROWTH AND IMPROVED CREDIT QUALITY
California BanCorp reported Q2 net income of $14.3 million, or $0.44 per diluted share, supported by $113.7 million in loan growth and a 24 basis point expansion in net interest margin to 4.71%. Asset quality improved markedly, with nonperforming assets falling by more than 50% to 0.44% of total assets, while return on average tangible common equity increased to 12.62%.
Key figures
- Eps
- 0.44
- Revenue
- 44905000
- Roa
- 1.43%
- Rotce
- 12.62%
- Npa ratio
- 0.44%
- Total loans
- 3110581000
- Loan growth qoq
- 3.8%
- Dividend increase
- 0.02
- Dividend new rate
- 0.12
- Shares repurchased
- 102594
- Net interest income
- 43354000
- Net interest margin
- 4.71%
- Avg repurchase price
- 19.46
- Tangible book value per share
- 14.29
AI analysis
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