Welcome to our dedicated page for California Bancorp news (Ticker: BCAL), a resource for investors and traders seeking the latest updates and insights on California Bancorp stock.
California BanCorp (NASDAQ: BCAL) is a San Diego, California-based bank holding company for California Bank of Commerce, N.A., a national banking association established in 2001. Through 14 branch offices and four loan production offices serving California, the Bank focuses on commercial banking for individuals, professionals, and small to medium-sized businesses, using a solutions-driven, relationship-based approach to banking.
This news page aggregates company announcements and market updates related to California BanCorp and its banking subsidiary. Readers can follow earnings releases that detail quarterly net income, net interest margin, loan and deposit trends, credit quality metrics, and capital ratios. These releases also discuss strategic themes such as derisking the consolidated balance sheet, reducing reliance on brokered deposits, and building a statewide commercial banking franchise.
In addition to financial results, the news flow includes updates on corporate actions and governance, such as the completion and integration of a merger of equals, changes in executive leadership, Board-level developments, and the introduction or expansion of capital management tools like share repurchase programs and cash dividends. The Bank also issues news on key personnel appointments, including roles in operations and specialty areas such as public sector banking, which reflect its focus on serving a broad range of California clients.
Investors, analysts, and clients can use this page to review the Company’s public communications over time, including how management describes its strategy, franchise footprint in Northern and Southern California, and progress in executing its relationship-based commercial banking model.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Southern California Bancorp (OTC Pink: BCAL) reported a net income of $8.2 million for Q1 2023, or $0.44 per diluted share, up from $1.4 million in Q1 2022 but slightly down from $8.5 million in Q4 2022. The net interest margin improved to 4.71%, while total assets stood at $2.29 billion. Total deposits increased by $54 million to $1.99 billion, with noninterest-bearing deposits making up 44.4% of total deposits. Despite a slight rise in noninterest expense to $15 million, the efficiency ratio rose to 56.8%. The company adopted the CECL model, which adjusted the allowance for credit losses to $24.1 million. CEO David Rainer remains optimistic about future growth amidst industry disruptions.