CALIFORNIA BANCORP REPORTS THIRD QUARTER EARNINGS, HIGHLIGHTED BY STEADY LOAN GROWTH AND STRONG DEPOSIT GROWTH
Key Highlights
- ➤Total deposits $3.48B, up $117.4M or 3.5% quarter-over-quarter
- ➤Total loans $3.16B, up $53.3M or 1.7% quarter-over-quarter
- ➤Net income $14.0M, or $0.43 diluted share, down from $14.3M
- ➤Provision for credit losses rose to $3.2M from $714,000
- ➤Redeemed $35.0M subordinated debt and repurchased $4.6M of shares
Expert Statements
David Rainer, Chairman and CEO of California BanCorp and California Bank of Commerce, N.A.
“Our third quarter results reflect the continued momentum we are building across our franchise, with steady loan growth and strong deposit growth throughout our statewide markets. We remain focused on disciplined credit management, particularly in a changing interest rate environment, while maintaining our commitment to relationship banking. Our deposit growth is especially encouraging, reflecting the strength of our business model, the deepening of existing client relationships, and our ability to attract new clients across California”
Richard Hernandez, President of California BanCorp and California Bank of Commerce, N.A.
“We are excited about our third quarter financial results, which reflect continued execution of our relationship banking strategy in each of our California markets. To expand our commercial banking presence in Northern California, we opened a new loan production office in downtown San Francisco, California on October 1, 2026”
Richard Hernandez, President of California BanCorp and California Bank of Commerce, N.A.
“We are seeing encouraging levels of business development activity, supported by a solid pipeline of new opportunities and the dedication of our teams in each of our markets. Our focus remains on attracting high-quality clients, enhancing relationships across our existing client base, and building a foundation for sustainable, long-term growth.”
San Diego, Calif., Oct. 28, 2026 (GLOBE NEWSWIRE) -- 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 third quarter of 2026.
The Company reported net income of $14.0 million, or $0.43 per diluted share, for the third quarter of 2026, compared to $14.3 million, or $0.44 per diluted share for the second quarter of 2026, and $15.7 million, or $0.48 per diluted share for the third quarter of 2025.
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