AI Earnings Predictions for Southern California Bancorp (BCAL)

EX-99.1

2 ex99-1.htm

EX-99.1

Exhibit 99.1

CALIFORNIA

BANCORP REPORTS STRONG SECOND QUARTER EARNINGS, SIGNIFICANT LOAN GROWTH AND IMPROVED CREDIT QUALITY

— Company to increase its quarterly dividend by $0.02 to $0.12 per common share in the third quarter of 2026

San Diego, Calif., July 27, 2026 – California BanCorp (“us,” “we,” “our,” or the “Company”) (NASDAQ: BCAL), the holding company for California Bank of Commerce, N.A. (the “Bank”) announces its consolidated financial results for the second quarter of 2026.

The Company reported net income of $14.3 million, or $0.44 per diluted share, for the second quarter of 2026, compared to $13.8 million, or $0.42 per diluted share for the first quarter of 2026, and $14.1 million, or $0.43 per diluted share for the second quarter of 2025.

“I am pleased to report a very solid second quarter by the Bank, highlighted by strong earnings of $14.3 million, meaningful loan growth of $113.7 million, and a significant improvement in credit quality, with nonperforming assets to total assets decreasing more than 50% to 0.44% from 0.97%,” said David Rainer, Chairman and CEO of the Company and Bank. “I’m also pleased to report our loan growth was well balanced, reflecting our ability to generate new banking relationships with businesses throughout our footprint. Given our strong performance and capital position, we are increasing our quarterly dividend to $0.12 beginning in the third quarter.”

“We continue to focus on our organic growth strategy, with top tier bankers in each of our California markets,” said Richard Hernandez, President of the Company and Bank. “Despite strong competition in our footprint, our team successfully generated new client relationships and increased business development activity in each of our regional commercial banking offices. We remain confident in the strength of our franchise and our ability to continue growing in a disciplined and profitable manner.”

Second Quarter 2026 Highlights

● Net income of $14.3 million or $0.44 diluted earnings per share for the second quarter.

● Net interest margin of 4.71%, compared with 4.47% in the prior quarter.

● Provision for credit losses of $714 thousand for the second quarter, compared with reversal of provision for credit losses of $381 thousand for the prior quarter.

● Return on average assets of 1.43%, compared with 1.36% in the prior quarter.

● Return on average common equity of 9.84%, compared with 9.62% in the prior quarter.

● Return on average tangible common equity (non-GAAP1) of 12.62%, compared with 12.37% in the prior quarter.

● Total loans, including loans held for sale, increased to $3.11 billion at June 30, 2026, up $113.7 million, or 3.8%, from $3.00 billion at March 31, 2026.

● Nonperforming loans were $8.9 million, down $21.7 million, or 70.9%, from March 31, 2026.

● Nonperforming assets to total assets ratio of 0.44% at June 30, 2026, compared with 0.97% at March 31, 2026.

● Allowance for credit losses (“ACL”) was 1.18% of total loans held for investment at June 30, 2026, compared to 1.21% at March 31, 2026; allowance for loan losses (“ALL”) was 1.13% of total loans held for investment at June 30, 2026, compared to 1.14% at March 31, 2026.

1 Reconciliations of non–U.S. generally accepted accounting principles (“GAAP”) measures are set forth at the end of this press release.

● Noninterest-bearing deposits represented 37.4% of total deposits, compared with 36.8% of total deposits at March 31, 2026.

● Cost of deposits was 1.31%, compared to 1.29% in the prior quarter.

● Cost of funds was 1.38%, compared with 1.36% in the prior quarter.

● Repurchased 102,594 shares of common stock at an average price of $19.46 and a total cost of $2.0 million under the stock repurchase program in the second quarter of 2026, compared to 409,915 shares of common stock at an average price of $18.08 and a total cost of $7.4 million in the first quarter of 2026.

● Dividend of $0.10 per common share declared in May 2026 and paid in July 2026, totaling $3.3 million.

● Tangible book value per common share (non-GAAP1) of $14.29 at June 30, 2026, up $0.32 from $13.97 at March 31, 2026.

● The Company’s preliminary capital ratios at June 30, 2026 exceed the minimums required to be “well-capitalized,” the highest regulatory capital category.

The Company’s Board of Directors approved the regular quarterly cash dividend of $0.12 per share to holders of its common stock, an increase of $0.02 per share from the prior quarter. The dividend is expected to be paid on October 15, 2026, to shareholders of record at the close of the business day on September 21, 2026.

Second Quarter Operating Results

Net Income

Net income for the second quarter of 2026 was $14.3 million, or $0.44 per diluted share, compared with $13.8 million, or $0.42 per diluted share in the first quarter of 2026. Pre-tax, pre-provision income (non-GAAP1) for the second quarter was $20.6 million, an increase of $1.9 million, or 9.89%, fro

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2026-01-28 2026-01-28

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 28, 2026

CALIFORNIA

BANCORPCalifornia BanCorp \ CA

(Exact name of registrant as specified in its charter)

California

001-41684

84-3288397

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS

Employer

Identification Number)

12265 El Camino Real, Suite 210

San Diego, California

92310

(Address of Principal Executive Offices)

(Zip Code)

(844) 265-7622

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

BCAL

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 2.02Results of Operations and Financial Condition

On January 28, 2026, California BanCorp (the “Company”) issued an earnings release reporting its consolidated financial results as of and for the fourth quarter and the full year of 2025. A copy of that earnings release is furnished as Exhibit 99.1 hereto.

Item 7.01Regulation FD Disclosure

A copy of a slide presentation that the Company may use for upcoming meetings with investors and other interested parties is furnished as Exhibit 99.2 hereto. Additionally, the Company has posted the slide presentation in the Investor Relations section of its website at https://ir.californiabankofcommerce.com. Information obtained or linked to the foregoing website shall not be deemed to be included in this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information contained in this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing..

Item 9.01Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Earnings Press Release date January 28, 2026

99.2

Investor Presentation, Fourth Quarter 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CALIFORNIA

BANCORP

Date: January 28, 2026 By: /s/ David I. Rainer

David I. Rainer

Chief Executive Officer