Welcome to our dedicated page for California BanCorp news (Ticker: $CALB), a resource for investors and traders seeking the latest updates and insights on California BanCorp stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect California BanCorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of California BanCorp's position in the market.
California BanCorp reported net income of $3.8 million for the first quarter of 2024, a 29% decrease from the previous quarter and a 30% decrease from the same quarter last year. Excluding merger related expenses, net income was $4.8 million. Diluted earnings per share were $0.45, down from $0.63 in the previous quarter. The Company's net interest income decreased by 5% to $17.7 million, and total revenue decreased by 2% to $19.4 million. Non-interest income increased by 27% to $1.7 million. Total assets decreased to $1.92 billion, total gross loans decreased to $1.52 billion, and total deposits increased to $1.64 billion. The Company's efficiency ratio was 70.57%. Capital ratios remain healthy with a tier I leverage ratio of 10.17%. Tangible book value per share increased by 2% to $22.91.