California BanCorp \ CA (BCAL) Form 8-K — Oct 28, 2026
California BanCorp (NASDAQ: BCAL) reported Q3 2026 net income of $14.0 million, or $0.43 per diluted share, down from $14.3 million in Q2 and $15.7 million a year ago, as credit costs spiked. The provision for credit losses jumped to $3.2 million from $714 thousand, driven by $4.6 million of net charge-offs on two commercial and industrial loans tied to an online advertising client that ceased operations. The quarter was not all weak: total loans grew 1.7% to $3.16 billion and deposits rose 3.5% to $3.48 billion, while net interest income edged up to $44.1 million. Net interest margin compressed 10 basis points to 4.61% on lower earning-asset yields.
Key figures
- Eps
- 0.43
- Revenue
- 46046000
- Net Income
- 14016000
- Total Debt
- 0
- Total Assets
- 4105696000
- Cash Position
- 266653000
- Shares Outstanding
- 31952352
- Buybacks q3
- 209,348 shares at avg $21.81, $4.6M total
- Total loans
- 3163928000
- Deposit cost
- 1.33% vs 1.31% prior quarter
- Total deposits
- 3476482000
- Credit capacity
- $1.16 billion total available borrowing capacity
- Net charge offs
- 4592000
- Efficiency ratio
- 53.00%
- Dividend per share
- $0.12 declared July 2026
- Net interest margin
- 4.61% vs 4.71% prior quarter
- Nonperforming loans
- 9329000
- Sub debt redemption
- $35.0M of 3.50% fixed-to-floating subordinated debt due 2031 redeemed at par
- Return on avg assets
- 1.35%
- Net interest income q3
- 44144000
- 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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