California BanCorp \ CA (BCAL) Form 10-Q — Aug 7, 2026

$BCALForm 10-QFiled Aug 7, 2026, 4:15 PM ET0001795815-26-000018Original filing

California BanCorp (BCAL) reported second-quarter 2026 net income of $14.3 million, or $0.44 per diluted share, up from $13.8 million, or $0.42, in the first quarter and $14.1 million, or $0.43, a year earlier. Net interest income rose to $43.4 million and the net interest margin expanded 24 basis points sequentially to 4.71%, helped by higher loan yields and purchase accounting accretion. First-half net income of $28.1 million trailed the prior year's $31.0 million, mainly on a $4.7 million increase in the provision for credit losses and $1.7 million of lower noninterest income.

Key figures

Eps: 0.44
Revenue: $44.9 million Q2 2026 total revenue (net interest income $43.4 million plus noninterest income $1.6 million)
Net Income: $14.3 million Q2 2026 (vs $13.8 million Q1 2026 and $14.1 million Q2 2025); $28.1 million six months ended June 30, 2026 (vs $31.0 million prior year)
Total Debt: $35.0 million 3.50% fixed-to-floating subordinated debt due September 1, 2031 (announced for at-par redemption in Q3 2026)
Total Assets: $4.03 billion at June 30, 2026
Cash Position: $265.0 million total cash and cash equivalents at June 30, 2026
Shares Outstanding: 32,110,117 at June 30, 2026; 32,150,541 as of August 4, 2026
Deposits: $3.36 billion at June 30, 2026
Cre Concentration: 449% of total risk-based capital; construction and land development at 25% of risk-based capital
Dividend Per Share: $0.10 paid in Q2 2026; $0.12 declared July 23, 2026, payable October 15, 2026
Book Value Per Share: $18.27
Uninsured Deposits: Approximately 50% of total deposits exceeded FDIC insurance limits
Ytd Gross Charge Offs: $193 thousand
Other Real Estate Owned: $8.6 million transferred from loans during H1 2026
Securities Stress Test: $51.1 million after-tax losses under a 300bp rate shock; $7.9 million if all current unrealized losses realized
Nonperforming CRELoans: $5.1 million at June 30, 2026
Efficiency Ratio Q2 2026: 54.2% (non-GAAP)
Loans Held For Investment: $3.09 billion at June 30, 2026
Allowance For Credit Losses: $34.9 million at June 30, 2026
Net Interest Income Q2 2026: $43.4 million
Net Interest Margin Q2 2026: 4.71% (vs 4.47% Q1 2026 and 4.61% Q2 2025)
Share Repurchases H1 2026: 512,509 shares for $9.4 million at weighted average $18.36; 875,563 shares remaining authorized
Tangible Book Value Per Share: $14.29 (non-GAAP)
Return On Average Assets Q2 2026: 1.43%
Return On Average Equity Q2 2026: 9.84%
Pre Tax Pre Provision Income Q2 2026: $20.6 million (non-GAAP)
Provision For Credit Losses Q2 2026: $714 thousand expense (vs $634 thousand reversal in Q2 2025); $333 thousand for six months
Return On Average Tangible Common Equity Q2 2026: 12.62% (non-GAAP)

Price after filing

1 day: 0.0%7 days: +2.0%30 days: +3.1%

Close on the filing date to close N calendar days later (from $21.25). Historical, not a forecast.

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