California BanCorp Executive Chairman David Rainer, through the DAVID AND ANNE RAINER TRUST U/A DTD 05/07/1997, reported an open-market sale of 75,000 shares of Common Stock at $19.00 per share on May 7, 2026.
After this indirect sale, the trust holds 356,347 shares, while Rainer also has a separate direct holding of 144,928 shares of California BanCorp Common Stock.
California BanCorp reported lower quarterly profit for the three months ended March 31, 2026. Net income was $13.8 million, down from $16.9 million a year earlier, with diluted EPS at $0.42 versus $0.52.
Total assets were $4.05 billion and total deposits $3.39 billion, both roughly stable since year-end 2025. Net interest income held steady at $42.1 million, while a smaller reversal of credit loss provisions reduced overall profitability.
The allowance for credit losses on loans was $34.0 million, and nonaccrual loans rose to $30.6 million. The company foreclosed on one construction credit, adding $8.6 million in other real estate owned, and recorded higher unrealized losses on available-for-sale securities in other comprehensive income. California BanCorp also repurchased about 410,000 shares for $7.4 million and paid a $0.10 per share dividend.
California BanCorp President Richard Hernandez reported a routine tax-withholding share disposition. On the vesting of a previously granted award, 1,208 shares of Common Stock were disposed at $18.85 per share to satisfy his tax liability, according to the footnote. Following this, he directly holds 89,935.2 shares and indirectly holds 20,834 shares through an IRA.
California BanCorp reports that two previously nonaccrual loans have been fully repaid after the sale of their collateral property. The loans were secured by a 123-acre event venue property in the Los Angeles area, which was sold to a cash buyer.
The company had previously noted in an earnings release on April 28, 2026 that the borrower was working with a cash buyer. It has now been notified that the sale closed on May 4, 2026 and both loans are fully paid off.
California BanCorp EVP and COO Michelle Wirfel reported a small tax-related share disposition. On the vesting of a previously granted award, 115 shares of California BanCorp common stock were disposed of at $18.92 per share to cover her tax liability. After this non‑market, tax-withholding transaction, she holds 87,882.93 shares directly.
California BanCorp reported net income of $13.8 million, or $0.42 per diluted share, for the first quarter of 2026, down from both the prior quarter and the same quarter last year. Net interest income was $42.1 million with a net interest margin of 4.47% as lower funding costs more than offset slightly lower asset yields.
Credit quality indicators weakened as nonperforming assets rose to $39.2 million, or 0.97% of total assets, and nonperforming loans reached 1.03% of loans. The allowance for loan losses stood at 1.14% of loans, while tangible book value per share increased to $13.97. The company repurchased 409,915 shares for $7.4 million and paid a $0.10 per share dividend.
California BanCorp (BCAL) executive Peter Nutz reported a small share disposition related to taxes, not an open-market trade. On the vesting of a previously granted equity award, 143 shares of common stock were delivered at $18.76 per share to satisfy his tax liability. Following this tax-withholding transaction, he directly holds 41,976.08 shares of California BanCorp common stock.
California BanCorp executive Thomas G. Dolan restructured his share holdings without a market trade. On this date, 5,114 shares of common stock were moved in an internal transaction, with shares transferred to his living trust account.
Following the restructuring, Dolan directly holds 57,409 shares of California BanCorp common stock and indirectly holds 261,173 shares through the Thomas G. Dolan Living Trust dated 8/9/2016. The transactions carried a reported price of $0.00 per share, indicating a non-cash, administrative shift in ownership form rather than a purchase or sale.
California BanCorp is asking shareholders to vote at its 2026 Annual Meeting on May 27, 2026 at 8:30 a.m. in San Diego. Holders of common stock as of April 2, 2026, when 32,152,298 shares were outstanding, may vote.
Shareholders will elect ten directors, ratify RSM US LLP as independent auditor for 2026, and approve a 2026 Omnibus Equity Incentive Plan, all recommended by the Board. Seven of ten nominees are independent, and key institutional holders each own more than 5% of the stock.
The proxy details cumulative voting mechanics, director and committee structure, and governance policies including a Code of Conduct, Related Party Transaction Policy, clawback policy, and anti‑hedging rules. It also outlines executive pay, with CEO compensation combining salary, annual incentives and stock-based awards tied to financial and strategic performance.