CALIFORNIA BANCORP ANNOUNCES INCREASE IN SHARE REPURCHASE PROGRAM
The additional authorization represents approximately 5.0% of outstanding common shares, extending capacity to return capital through repurchases.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
California BanCorp (Nasdaq: BCAL) has authorized an additional 1.6 million shares for potential repurchase under its existing share repurchase program. The increase represents approximately 5.0% of outstanding common shares. Approximately 557,315 shares remained available under the existing authorization as of November 3, 2026.
Since the program began, the company has repurchased 1,042,685 shares for $19.7 million. The program has no expiration date. California BanCorp intends to fund repurchases with available working capital and cash from operating activities; timing and volume will depend on price, trading volume and market conditions, among other factors.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Additional authorization covers 1.6 million shares, approximately 5.0% of outstanding common stock.
- Minor pointCompleted repurchases total 1,042,685 shares for $19.7 million since the program began.
Negative
- None.
Key Figures
- Additional shares authorized
- 1.6 million shares
- Additional share repurchase authorization
- Share of outstanding stock
- approximately 5.0%
- Additional authorized shares
- Existing authorization remaining
- approximately 557,315 shares
- As of November 3, 2026
- Shares repurchased
- 1,042,685 shares
- Since the program's inception
- Aggregate purchase price
- $19.7 million
- Repurchases since the program's inception
Previous Buybacks Reports
-
Expanded authorization to 1.6 million shares; the program had not yet been used.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
rule 10b5-1 plan regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
San Diego, Calif., Nov. 05, 2026 (GLOBE NEWSWIRE) -- California BanCorp (the “Company”) (Nasdaq: BCAL), the holding company for California Bank of Commerce, N.A. (the “Bank”), announces that its Board of Directors has authorized an additional 1.6 million shares of the Company’s common stock that may be repurchased pursuant to its share repurchase program. The program was originally approved by the Board in June 15, 2023 and was most recently amended on May 1, 2025. As of November 3, 2026, approximately 557,315 shares remained available under the existing authorization. Since the program’s inception, the Company has repurchased 1,042,685 shares of the Company’s common stock for an aggregate purchase price of
“Our strong earnings and capital position provide us with the capacity to continue returning capital to shareholders through share repurchases, which we believe are an effective way to return capital and enhance long-term shareholder value. The expansion of our share repurchase program reflects the confidence of our Board of Directors and management team in our relationship-based banking strategy, and our continued commitment to delivering sustainable, longer-term value for our shareholders,” said David Rainer, Chairman of the Company and the Bank.
Repurchases under the program may occur from time to time in open market transactions, in privately negotiated transactions, or by other means in accordance with federal securities laws and other restrictions. The Company intends to fund its repurchases from available working capital and cash provided by operating activities. The timing of repurchases, as well as the number of shares repurchased, will depend on a variety of factors, including price; trading volume; business, economic and general market conditions; and the terms of any Rule 10b5-1 plan adopted by the Company. The repurchase program has no expiration date and may be suspended, modified, or terminated at any time without prior notice.
ABOUT CALIFORNIA BANCORP
California BanCorp (NASDAQ: BCAL) is a registered bank holding company headquartered in San Diego, California. California Bank of Commerce, N.A., a national banking association chartered under the laws of the United States (the “Bank”) and regulated by the Office of Comptroller of the Currency, is a wholly owned subsidiary of California BanCorp. Established in 2001 and headquartered in San Diego, California, the Bank offers a range of financial products and services to individuals, professionals, and small to medium-sized businesses through its 14 branch offices including 12 commercial banking offices serving California. The Bank’s solutions-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. Additional information is available at www.bankcbc.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
In addition to historical information, this release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and other matters that are not historical facts. Examples of forward-looking statements include the Company’s expectations regarding use of its share repurchase program to enhance shareholder value and confidence in its earnings outlook. Forward-looking statements reflect management’s current view about future events and involve risks and uncertainties that may cause actual results to differ from those expressed in the forward-looking statement or historical results. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and often include the words or phrases such as “aim,” “can,” “may,” “could,” “predict,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “hope,” “intend,” “plan,” “potential,” “project,” “will likely result,” “continue,” “seek,” “shall,” “possible,” “projection,” “optimistic,” and “outlook,” and variations of these words and similar expressions.
Factors that could cause or contribute to results differing from those in or implied in the forward-looking statements include but are not limited to the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; changes in real estate markets and valuations; the impact on financial markets from geopolitical conflicts; inflation, interest rate, market and monetary fluctuations and general economic conditions, either nationally or locally in the areas in which the Company conducts business; increases in competitive pressures among financial institutions and businesses offering similar products and services; general credit risks related to lending, including changes in the value of real estate or other collateral, the financial condition of borrowers, the effectiveness of our underwriting practices and the risk of fraud; higher than anticipated defaults in the Company’s loan portfolio; changes in management’s estimate of the adequacy of the allowance for credit losses or the factors the Company uses to determine the allowance for credit losses; changes in demand for loans and other products and services offered by the Company; the possibility that the Company may reduce or discontinue the payment of dividends on its common stock; the possibility that the Company may discontinue, reduce or otherwise limit the level of repurchases of its common stock that it may make from time to time pursuant to its stock repurchase program; the costs and outcomes of litigation; legislative or regulatory changes or changes in accounting principles, policies or guidelines; and other risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) and other documents the Company may file with the SEC from time to time.
Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other documents the Company files with the SEC from time to time.
Any forward-looking statement made in this release is based only on information currently available to management and speaks only as of the date on which it is made. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements or to conform such forward-looking statements to actual results or to changes in its opinions or expectations, except as required by law.
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