Form 8-K

8-K — California BanCorp \ CA

Accession: 0001493152-26-048825

Filed: 2026-10-28

Period: 2026-10-28

CIK: 0001795815

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — form8-k.htm (Primary)

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2026-10-28

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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): October 28, 2026

CALIFORNIA

BANCORPCalifornia BanCorp \ CA

(Exact

name of registrant as specified in its charter)

California

001-41684

84-3288397

(State

or other jurisdiction

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 ☒

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

2.02

Results

of Operations and Financial Condition

October 28, 2026, California BanCorp (the “Company”) issued an earnings release reporting its consolidated financial results

as of and for the third quarter of 2026. A copy of that earnings release is furnished as Exhibit 99.1 hereto.

Item

7.01

Regulation

FD Disclosure

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.

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

9.01

Financial

Statements and Exhibits.

Exhibit

No.

Description

99.1

Earnings Press Release date October 28, 2026

99.2

Investor Presentation, Third Quarter 2026

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:

October 28, 2026

By:

/s/

David I. Rainer

David

I. Rainer

Chief

Executive Officer

EX-99.1

Filename: ex99-1.htm · Sequence: 2

Exhibit 99.1

CALIFORNIA

BANCORP REPORTS THIRD QUARTER EARNINGS,

HIGHLIGHTED

BY STEADY LOAN GROWTH AND STRONG DEPOSIT GROWTH

San

Diego, Calif., October 28, 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 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.

“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,”

said David Rainer, Chairman and CEO of the Company and Bank.

“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,” said Richard Hernandez, President of the Company and Bank. “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.”

Third

Quarter 2026 Highlights

●

Net

income of $14.0 million or $0.43 diluted earnings per share for the third quarter.

●

Net

interest margin of 4.61%, compared with 4.71% in the prior quarter.

●

Provision

for credit losses of $3.2 million for the third quarter, compared with $714 thousand for the prior quarter.

●

Return

on average assets of 1.35%, compared with 1.43% in the prior quarter.

●

Return

on average common equity of 9.45%, compared with 9.84% in the prior quarter.

●

Return

on average tangible common equity (non-GAAP1) of 12.07%, compared with 12.62% in the prior quarter.

●

Total

loans, including loans held for sale, increased to $3.16 billion at September 30, 2026, up $53.3 million, or 1.7%, from $3.11

billion at June 30, 2026.

●

Nonperforming

loans were $9.3 million, up $407 thousand, or 4.6%, from June 30, 2026.

●

Allowance

for credit losses (“ACL”) was 1.13% of total loans held for investment at September 30, 2026, compared to 1.18% at

June 30, 2026; allowance for loan losses (“ALL”) was 1.07% of total loans held for investment at September 30, 2026,

compared to 1.13% at June 30, 2026.

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 36.3% of total deposits, compared with 37.4% of total deposits at June 30, 2026.

●

Total

deposits, increased to $3.48 billion at September 30, 2026, up $117.4 million, or 3.5%, from $3.36 billion at June 30, 2026.

●

Cost

of deposits was 1.33%, compared to 1.31% in the prior quarter.

●

Cost

of funds was 1.39%, compared with 1.38% in the prior quarter.

●

Redeemed

all $35.0 million of its 3.50% fixed-to-floating rate subordinated debt due September 1, 2031, at par value; the interest rate

was scheduled to change on September 1, 2026 to a quarterly variable rate equal to the then current 90-day SOFR plus 2.86%, until

maturity.

●

Repurchased

209,348 shares of common stock at an average price of $21.81 and a total cost of $4.6 million under the stock repurchase program

in the third quarter of 2026, compared to 102,594 shares of common stock at an average price of $19.46 and a total cost of $2.0 million

in the second quarter of 2026.

●

Dividend

of $0.12 per common share declared in July 2026 and paid in October 2026, totaling $3.8 million.

●

Tangible

book value per common share (non-GAAP1) of $14.22 at September 30, 2026, down $0.07 from $14.29 at June 30, 2026.

●

The

Company’s preliminary capital ratios at September 30, 2026 exceeded the minimums required to be “well-capitalized,”

the highest regulatory capital category.

Third

Quarter Operating Results

Net

Income

Net

income for the third quarter of 2026 was $14.0 million, or $0.43 per diluted share, compared with $14.3 million, or $0.44 per diluted

share in the second quarter of 2026. Pre-tax, pre-provision income (non-GAAP1) for the third quarter was $21.6 million, an

increase of $1.1 million, or 5.27%, from the prior quarter. The net income and diluted earnings per share decreases were largely driven

by higher provision for credit losses and noninterest expense, partially offset by higher net interest income and noninterest income.

Net

Interest Income and Net Interest Margin

Net

interest income for the third quarter of 2026 was $44.1 million, compared with $43.4 million in the prior quarter. The increase in net

interest income was primarily due to a $1.4 million increase in total interest and dividend income, partially offset by a $581 thousand

increase in total interest expense in the third quarter of 2026, as compared with the prior quarter. The increase in net interest income

was also impacted by one additional day in the current quarter compared with the prior quarter.

During

the third quarter of 2026, total interest income increased by $1.4 million. The increase was primarily driven by a $1.2 million increase

in total loan interest income, which included a decrease of $18 thousand in accretion from the net purchase accounting discounts on acquired

loans and $366 thousand reversals of interest income on loans placed on nonaccrual. In addition, total debt securities income increased

$113 thousand, and interest income from deposits in other financial institutions increased $497 thousand. These increases were partially

offset by a decrease of $353 thousand in dividend income from restricted stock investments and other bank stock and a decrease of $123

thousand in interest income from Fed funds sold/resale agreements. The increase in interest income was mainly due to the growth in average

interest-earning assets, partially offset by a decline of 9 basis points in the yield on average total interest-earning assets as a result

of changes in asset mix, and reversals of interest associated with nonaccrual loans. Average interest-earning assets were positively

impacted by increases in average total loans of $68.1 million, average total debt securities of $1.6 million, and average deposits in

other financial institutions of $51.0 million, partially offset by a decrease in average Fed funds sold/resale agreements of $12.2 million.

The increase in interest expense for the third quarter of 2026 was primarily due to a $682 thousand increase in interest expense on average

total interest-bearing deposits, the result of higher average total interest-bearing deposits of $95.5 million, partially offset by a

$101 thousand decrease in borrowing expense from the redemption of the $35 million subordinated debt on September 1, 2026.

Net

interest margin for the third quarter of 2026 was 4.61%, compared with 4.71% in the prior quarter. The decrease in the net interest margin

of 10 basis points was primarily driven by a decline of 9 basis points in the total interest-earning assets yield, coupled with an increase

of 1 basis point in the cost of funds. The yield on total average interest-earning assets in the third quarter of 2026 was 5.88%, compared

with 5.97% in the prior quarter. The yield on average total loans in the third quarter of 2026 was 6.29%, a decrease of 5 basis points

from 6.34% in the prior quarter. The yield on average total loans in the third quarter of 2026 included the impact of the nonaccrual

interest reversals noted above, which decreased the overall loan yield by 5 basis points. This compares to an increase of 7 basis points

in overall total loan yield in the prior quarter from cash interest collection on the payoff of two nonaccrual loans, net of interest

reversals on loans placed on nonaccrual. Accretion income from the net purchase accounting discounts on acquired loans was $3.3 million,

increasing the yield on average total loans by 42 basis points; the net amortization expense from the purchase accounting discounts on

acquired subordinated debt and acquired time deposits premium increased interest expense by $389 thousand, the combination of which increased

the net interest margin by 31 basis points in the third quarter of 2026. In the prior quarter, accretion income from the net purchase

accounting discounts on acquired loans was $3.3 million, increasing the yield on average total loans by 44 basis points; the net amortization

expense from the purchase accounting discounts on acquired subordinated debt and acquired time deposits premium increased the interest

expense by $389 thousand, the combination of which increased the net interest margin by 32 basis points.

Cost

of funds for the third quarter of 2026 was 1.39%, an increase of 1 basis point from 1.38% in the prior quarter. The increase was a result

of an increase of 1 basis point in the cost of average total interest-bearing deposits, driven primarily by changes in the Company’s

deposit mix and increased competition for deposits driving market deposit rates upward in the third quarter of 2026. The amortization

expense of $389 thousand from the purchase accounting discounts on acquired subordinated debt and acquired time deposits premium contributed

4 basis points to the cost of funds. Average noninterest-bearing demand deposits increased $17.4 million to $1.24 billion and represented

36.0% of total average deposits for the third quarter of 2026, compared with $1.22 billion and 36.7%, respectively, in the prior quarter;

average interest-bearing deposits increased $95.5 million to $2.21 billion during the third quarter of 2026. The total cost of deposits

in the third quarter of 2026 was 1.33%, compared with 1.31% in the prior quarter.

Average

total borrowings decreased $10.9 million to $23.5 million in the third quarter of 2026, primarily due to the redemption of the $35.0

million subordinated debt in September 2026. The average cost of total borrowings was 10.04% for the third quarter of 2026, up from 8.10%

in the prior quarter. The increase in cost of total borrowings during the quarter was primarily the result of amortization of the remaining

fair value adjustment associated with the redemption of the subordinated debt.

Provision

for Credit Losses

The

Company recorded a provision for credit losses of $3.2 million for the third quarter of 2026, compared with $714 thousand in the prior

quarter. The provision for credit losses in the third quarter of 2026 was comprised of a $3.2 million provision for credit losses on

loans held for investment, partially offset by a $16 thousand reversal of provision for credit losses for unfunded loan commitments.

Total unfunded loan commitments decreased by $34.5 million to $862.4 million at September 30, 2026, compared to $896.9 million in unfunded

loan commitments at June 30, 2026.

The

provision for credit losses for loans held for investment in the third quarter of 2026 was $3.2 million, an increase of $2.2 million

from $1.1 million in the prior quarter. The increase reflected $4.6 million in net charge-offs, primarily related to the full charge-off

of two commercial and industrial loans, updates to the reasonable and supportable economic forecasts for California, revised scenario

weighting assumptions, continued loan growth, and changes in portfolio composition, partially offset by a decline in accruing substandard

and special mention loan balances and refinements to the qualitative factors. The Company’s management continues to monitor macroeconomic

variables including changes in interest rates, uncertainty in the current economic environment, and elevated geopolitical risks related

to ongoing conflicts in the Middle East. Management believes it has appropriately provisioned for the current environment.

Noninterest

Income

Total

noninterest income was $1.9 million in the third quarter of 2026, an increase of $351 thousand compared with $1.6 million in the second

quarter of 2026. Other charges and fees increased $260 thousand in the third quarter due primarily to a reduction in loss from equity

investments of $30 thousand in the third quarter of 2026 compared to a loss from equity investments of $251 thousand in the prior quarter.

Noninterest

Expense

Total

noninterest expense for the third quarter of 2026 was $24.4 million, an increase of $57 thousand, compared with $24.3 million in the

prior quarter. Salaries and employee benefits decreased $157 thousand during the third quarter of 2026 to $15.4 million primarily due

to lower overall payroll tax and incentive accruals, partially offset by a decrease in loan origination costs deferred based on decreased

loan origination activity. Legal, audit and professional expense increased $229 thousand during the third quarter of 2026. Other real

estate owned expenses decreased $197 thousand in the third quarter of 2026 primarily from overall lower holding costs.

Efficiency

ratio (non-GAAP1) for the third quarter of 2026 was 53.00%, compared with 54.22% in the prior quarter.

Income

Tax

the third quarter of 2026, the Company’s income tax expense was $4.4 million, compared with $5.5 million for the second quarter

of 2026. The effective rate was 23.9% for the third quarter of 2026 and 27.9% for the second quarter of 2026. The decrease in income

tax expense and the effective tax rate for the third quarter of 2026 was primarily driven by a $725 thousand tax benefit recognized from

tax credits purchased in the third quarter of 2026.

Balance

Sheet

Assets

Total

assets at September 30, 2026 were $4.11 billion, an increase of $80.4 million or 2.0% from June 30, 2026. The increase in total assets

from the prior quarter was primarily related to an increase of $53.3 million in loans, including loans held for sale, a $10.1 million

increase in available-for-sale debt securities, a $4.4 million increase in deferred taxes and a $9.1 million increase in accrued interest

and other assets, primarily driven by the tax credits purchased in the third quarter.

Loans

Total

loans held for investment (“LHFI”) were $3.15 billion at September 30, 2026, an increase of $53.8 million, compared with

June 30, 2026. During the third quarter of 2026, new loans totaled $241.5 million, consisting of $159.9 million of new loan fundings,

$10.8 million of Community Reinvestment Act (“CRA”) eligible small business loan participation purchases to support the Company’s

CRA strategy and small business lending objectives, and $70.8 million of short-term participation purchases in fully collateralized mortgage

loans. Separately, advances on existing loans totaled $81.2 million. These increases were partially offset by $124.7 million loan payoffs,

paydowns and others changes totaling $76.7 million, $4.6 million of full charge-offs of two commercial and industrial loans, and $62.8

million of short-term participation purchases in fully collateralized mortgage loans that were sold to approved third-party mortgage

brokers or investors. Total loans secured by real estate increased by $44.1 million, of which construction and land development loans

increased $19.9 million, other commercial real estate loans increased $19.1 million; multifamily loans increased $8.9 million, and commercial

and industrial loans increased $10.8 million, including $34.5 million of aforementioned participation purchases in mortgage loans through

approved warehouse facilities and $10.8 million of aforementioned participation purchases in CRA-eligible small business loans; partially

offset by 1-4 family residential and consumer loans decreasing by $3.8 million and $1.1 million, respectively.

The

Company had $15.4 million in loans held for sale at September 30, 2026, consisting entirely of consumer solar loans, compared with $15.8

million at June 30, 2026.

Deposits

Total

deposits at September 30, 2026 were $3.48 billion, an increase of $117.4 million from June 30, 2026. The increase was primarily due to

increases in interest-bearing non-maturity deposits of $115.5 million and noninterest-bearing demand deposits of $4.9 million, partially

offset by a decrease in non-brokered time deposits of $3.1 million. Noninterest-bearing demand deposits at September 30, 2026, were $1.26

billion, or 36.3% of total deposits, compared with $1.26 billion, or 37.4% of total deposits at June 30, 2026. At September 30, 2026,

total interest-bearing deposits were $2.21 billion, compared with $2.10 billion at June 30, 2026. At September 30, 2026, the Company

did not have any brokered time deposits. The Company offers the Insured Cash Sweep product and Certificate of Deposit Account Registry

Service, each of which provides reciprocal deposit placement services to fully qualified large customer deposits for FDIC insurance among

other participating banks. Total reciprocal deposits were $740.3 million, or 21.3% of total deposits at September 30, 2026, compared

with $705.2 million, or 21.0% of total deposits at June 30, 2026.

Federal

Home Loan Bank (“FHLB”) and Liquidity

September 30, 2026 and June 30, 2026, the Company had no FHLB or Federal Reserve Discount Window borrowings.

September 30, 2026, the Company had available borrowing capacity from an FHLB secured line of credit of approximately $752.5 million

and available borrowing capacity from the Federal Reserve Discount Window of approximately $317.5 million. The Company also had available

borrowing capacity from four unsecured credit lines from correspondent banks of approximately $90.5 million at September 30, 2026, with

no outstanding borrowings. Total available borrowing capacity was $1.16 billion at September 30, 2026. Additionally, the Company had

unpledged liquid securities at fair value of approximately $215.7 million and cash and cash equivalents of $266.7 million at September

30, 2026.

During

the third quarter of 2026, the Company redeemed all $35.0 million of its 3.50% fixed-to-floating rate subordinated debt due September

1, 2031, at par value. Starting in September 2026, the interest rate on that subordinated debt was scheduled to transition from a fixed

rate to a quarterly variable rate equal to the then current 90-day SOFR plus 2.86%, through the contractual maturity date of September

1, 2031.

Asset

Quality

Total

non-performing assets were $17.9 million, or 0.44% of total assets at September 30, 2026, an increase of $407 thousand, or 2.3%, from

$17.5 million, or 0.44% of total assets, at June 30, 2026. Total non-performing loans were $9.3 million, or 0.30% of total loans held

for investment at September 30, 2026, compared with $8.9 million, or 0.29% of total loans held for investment at June 30, 2026.

Total

nonperforming loans increased $407 thousand, or 4.6%, during the third quarter of 2026 primarily driven by the downgrades of a commercial

and industrial loan and a commercial real estate loan. These loans are classified as individually evaluated, collateral-dependent loans

and no allowance for loan loss was recorded at September 30, 2026, as full repayments are anticipated.

Special

mention loans decreased by $8.4 million during the third quarter of 2026 to $40.3 million at September 30, 2026. The decrease in the

special mention loans was due mostly to $5.9 million of loans downgraded to substandard, coupled with $5.8 million in upgrades to pass

rating, $1.2 million in net paydowns, and $356 thousand in payoffs, partially offset by $4.9 million of loans downgraded from pass rating.

Substandard

loans decreased by $5.5 million during the third quarter of 2026 to $58.7 million at September 30, 2026. The decrease in the substandard

loans was due primarily to full charge-offs of two commercial and industrial loans totaling $4.6 million from one relationship, coupled

with $3.3 million in upgrades to pass rating, $2.0 million in payoffs and $1.5 million in net paydowns, partially offset by $5.9 million

of loans downgraded from special mention. The aforementioned charge-offs are related to a long-term, online advertisement client. Challenges

related to unauthorized third-party use of the client’s proprietary software caused a rapid, material decline in revenue, ultimately

leading the company to cease operations with limited recovery opportunities.

The

Company had no LHFI that were over 90 days past due and still accruing interest at September 30, 2026 and June 30, 2026, respectively.

Loan

delinquencies (30-89 days past due, excluding nonaccrual loans) totaled $80 thousand at September 30, 2026, compared with $4.9 million

in such loan delinquencies at June 30, 2026. The decrease was primarily due to $2.4 million of loans brought to current, $2.0 million

in payoffs, and $372 thousand of a commercial and industrial loan downgraded to nonaccrual, partially offset by $6.0 thousand of loans

that became delinquent during the third quarter of 2026.

The

allowance for credit losses, which is comprised of the ALL and reserve for unfunded loan commitments, totaled $35.5 million at September

30, 2026, compared with $36.6 million at June 30, 2026. The $1.2 million decrease in the allowance for credit losses included a $3.2

million provision for credit losses for the loan portfolio, net charge-offs of $4.6 million, a $224 thousand initial gross-up allowance

related to purchased seasoned loans, and a $16 thousand reversal of provision for credit losses for unfunded loan commitments for the

quarter ended September 30, 2026.

The

ALL was $33.7 million, or 1.07% of total loans held for investment at September 30, 2026, compared with $34.9 million, or 1.13% at June

30, 2026.

Capital

Tangible

book value per common share (non-GAAP1) at September 30, 2026 was $14.22, compared with $14.29 at June 30, 2026. In the third

quarter of 2026, tangible book value was primarily impacted by net income of $14.0 million for the third quarter, and stock-based compensation

activity. This was offset by an increase in net of tax unrealized losses on available-for-sale debt securities, the Company’s common

stock repurchase program activity, and cash dividends, which reduced the tangible book value per common share by $0.37, $0.14 and $0.12,

respectively. Other comprehensive losses related to net of tax unrealized losses on available-for-sale debt securities increased by $11.8

million to $17.1 million at September 30, 2026, from $5.3 million at June 30, 2026. The increase in the net of tax unrealized losses

on available-for-sale debt securities was attributable to non-credit related factors, including a decrease in bond prices at the long

end of the yield curve and the general interest rate environment, and growth in the available-for-sale debt securities. Tangible common

equity (non-GAAP1) as a percentage of total tangible assets (non-GAAP1) at September 30, 2026, decreased to 11.42%

from 11.77% in the prior quarter, and net of tax unrealized losses on available-for-sale debt securities as a percentage of tangible

common equity (non-GAAP1) at September 30, 2026 increased to 3.8% from 1.2% in the prior quarter.

The

Company’s preliminary capital ratios exceed the minimums required to be “well-capitalized” at September 30, 2026.

Stock

Repurchase Program

During

the third quarter of 2026, the Company repurchased 209,348 shares of its common stock at an average price of $21.81 and a total cost

of $4.6 million under the stock repurchase program, compared to 102,594 shares of common stock at an average price of $19.46 and a total

cost of $2.0 million in the second quarter of 2026. For the nine months ended September 30, 2026, the Company repurchased 721,857 shares

of its common stock at an average price of $19.36 and a total cost of $14.0 million under the stock repurchase program. The remaining

maximum number of shares authorized to be repurchased under this program was 666,215 shares at September 30, 2026.

ABOUT

CALIFORNIA BANCORP

California

BanCorp (NASDAQ: BCAL) is a registered bank holding company headquartered in San Diego, California. California Bank of Commerce, N.A.,

a national banking association chartered under the laws of the United States (the “Bank”) and regulated by the Office of

the Comptroller of the Currency, is a wholly owned subsidiary of California BanCorp. Established in 2001 and headquartered in San Diego,

California, the Bank offers a range of financial products and services to individuals, professionals, and small to medium-sized businesses

through its 14 branch offices including 12 commercial banking offices serving California. The Bank’s solutions-driven, relationship-based

approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. Additional

information is available at www.californiabankofcommerce.com.

CAUTIONARY

NOTE REGARDING FORWARD-LOOKING STATEMENTS

addition to historical information, this release includes forward-looking statements within the meaning of the Private Securities Litigation

Reform Act of 1995. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated

events or trends and other matters that are not historical facts. Examples of forward-looking statements include, among others, statements

regarding expectations, plans or objectives for future operations, products or services, loan recoveries, projections, and expectations

regarding the adequacy of reserves for credit losses, as well as forecasts relating to financial and operating results or other measures

of economic performance. Forward-looking statements reflect management’s current view about future events and involve risks and

uncertainties that may cause actual results to differ from those expressed in the forward-looking statement or historical results. Forward-looking

statements can be identified by the fact that they do not relate strictly to historical or current facts and often include the words

or phrases such as “aim,” “can,” “may,” “could,” “predict,” “should,”

“will,” “would,” “believe,” “anticipate,” “estimate,” “expect,”

“hope,” “intend,” “plan,” “potential,” “project,” “will likely result,”

“continue,” “seek,” “shall,” “possible,” “projection,” “optimistic,”

and “outlook,” and variations of these words and similar expressions.

Factors

that could cause or contribute to results differing from those in or implied in the forward-looking statements include but are not limited

to the impact of bank failures or other adverse developments at other banks on general investor sentiment regarding the stability and

liquidity of banks; changes in real estate markets and valuations; the impact on financial markets from geopolitical conflicts; inflation,

interest rate, market and monetary fluctuations and general economic conditions, either nationally or locally in the areas in which the

Company conducts business; increases in competitive pressures among financial institutions and businesses offering similar products and

services; general credit risks related to lending, including changes in the value of real estate or other collateral, the financial condition

of borrowers, the effectiveness of our underwriting practices and the risk of fraud; higher than anticipated defaults in the Company’s

loan portfolio; changes in management’s estimate of the adequacy of the allowance for credit losses or the factors the Company

uses to determine the allowance for credit losses; changes in demand for loans and other products and services offered by the Company;

the possibility that the Company may reduce or discontinue the payment of dividends on its common stock; the possibility that the Company

may discontinue, reduce or otherwise limit the level of repurchases of its common stock that it may make from time to time pursuant to

its stock repurchase program; the costs and outcomes of litigation; legislative or regulatory changes or changes in accounting principles,

policies or guidelines; and other risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December

31, 2025, filed with the Securities and Exchange Commission (“SEC”) and other documents the Company may file with the SEC

from time to time.

Additional

information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained

in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and other documents the Company files with the

SEC from time to time.

Any

forward-looking statement made in this release is based only on information currently available to management and speaks only as of the

date on which it is made. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements

to reflect occurrences or unanticipated events or circumstances after the date of such statements or to conform such forward-looking

statements to actual results or to changes in its opinions or expectations, except as required by law.

California

BanCorp and Subsidiary

Financial

Highlights (Unaudited)

or for the

Three

Months Ended

or for the

Nine

Months Ended

September

30,

2026

June

30,

2026

September

30,

2025

September

30,

2026

September

30,

2025

($ in thousands

except share and per share data)

EARNINGS

Net interest

income

$ 44,144

$ 43,354

$ 42,515

$ 129,582

$ 126,187

Provision for (reversal

of) credit losses

$ 3,215

$ 714

$ (15 )

$ 3,548

$ (4,425 )

Noninterest income

$ 1,902

$ 1,551

$ 2,668

$ 5,590

$ 8,090

Noninterest expense

$ 24,403

$ 24,346

$ 23,382

$ 74,261

$ 73,135

Income tax expense

$ 4,412

$ 5,545

$ 6,132

$ 15,256

$ 18,931

Net income

$ 14,016

$ 14,300

$ 15,684

$ 42,107

$ 46,636

Pre-tax

pre-provision income (1)

$ 21,643

$ 20,559

$ 21,801

$ 60,911

$ 61,142

Diluted earnings per share

$ 0.43

$ 0.44

$ 0.48

$ 1.30

$ 1.42

Shares outstanding at period end

31,952,352

32,110,117

32,443,056

31,952,352

32,443,056

PERFORMANCE RATIOS

Return on average assets

1.35 %

1.43 %

1.54 %

1.38 %

1.57 %

Return on average common

equity

9.45 %

9.84 %

11.24 %

9.64 %

11.61 %

Yield on total loans

6.29 %

6.34 %

6.50 %

6.26 %

6.56 %

Yield on interest earning

assets

5.88 %

5.97 %

6.08 %

5.86 %

6.18 %

Cost of deposits

1.33 %

1.31 %

1.59 %

1.31 %

1.59 %

Cost of funds

1.39 %

1.38 %

1.69 %

1.38 %

1.71 %

Net interest margin

4.61 %

4.71 %

4.52 %

4.60 %

4.59 %

Efficiency

ratio (1)

53.00 %

54.22 %

51.75 %

54.94 %

54.47 %

September

30,

2026

June

30,

2026

December

31,

2025

($ in thousands

except share and per share data)

CAPITAL

Tangible

equity to tangible assets (1)

11.42 %

11.77 %

11.45 %

Book value (BV) per common share

$ 18.19

$ 18.27

$ 17.79

Tangible BV per common share

(1)

$ 14.22

$ 14.29

$ 13.79

ASSET QUALITY

Allowance for credit losses

- loans (ALL)

$ 33,723

$ 34,860

$ 34,348

Reserve for unfunded loan

commitments

$ 1,753

$ 1,769

$ 2,105

Allowance for credit losses

(ACL)

$ 35,476

$ 36,629

$ 36,453

ALL to nonperforming loans

361.5 %

390.7 %

213.5 %

ALL to total loans held

for investment

1.07 %

1.13 %

ACL to total loans held

for investment

1.13 %

1.18 %

1.20 %

30-89 days past due, excluding

nonaccrual loans

$ 80

$ 4,941

$ 14,735

90 days or more past due,

excluding nonaccrual loans

$ —

Special mention loans

$ 40,254

$ 48,640

$ 72,407

Special mention loans to

total loans held for investment

1.28 %

1.57 %

2.39 %

Substandard loans

$ 58,676

$ 64,209

$ 60,681

Substandard loans to total

loans held for investment

1.86 %

2.07 %

2.00 %

Nonperforming loans

$ 9,329

$ 8,922

$ 16,086

Nonperforming loans to

total loans held for investment

0.30 %

0.29 %

0.53 %

Other real estate owned,

net

$ 8,613

$ —

Nonperforming assets

$ 17,942

$ 17,535

$ 16,086

Nonperforming assets to

total assets

0.44 %

0.40 %

(1)

Non-GAAP measure. See – GAAP to Non-GAAP reconciliation.

September

30,

2026

June

30,

2026

December

31,

2025

($ in thousands

except share and per share data)

END OF PERIOD BALANCES

Total loans,

including loans held for sale

$ 3,163,928

$ 3,110,581

$ 3,058,992

Total assets

$ 4,105,696

$ 4,025,259

$ 4,033,386

Deposits

$ 3,476,482

$ 3,359,105

$ 3,370,581

Loans to deposits

91.0 %

92.6 %

90.8 %

Shareholders’ equity

$ 581,354

$ 586,640

$ 576,586

or for the

Three

Months Ended

or for the

Nine

Months Ended

ALLOWANCE

for CREDIT LOSSES

September

30,

2026

June

30,

2026

September

30,

2025

September

30,

2026

September

30,

2025

($ in thousands)

Allowance for credit losses

- loans

Balance at beginning of period

$ 34,860

$ 34,002

$ 41,110

$ 34,348

$ 50,540

Initial allowance for purchased seasoned loans

224

—

224

—

Provision for (reversal of) credit losses

3,231

1,050

221

3,900

(3,600 )

Charge-offs

(4,605 )

(193 )

(323 )

(4,798 )

(7,729 )

Recoveries

284

2,081

Net charge-offs

(4,592 )

(192 )

(39 )

(4,749 )

(5,648 )

Balance, end of period

$ 33,723

$ 34,860

$ 41,292

$ 33,723

$ 41,292

Reserve

for unfunded loan commitments (1)

Balance, beginning of period

$ 1,769

$ 2,105

$ 2,514

$ 2,105

$ 3,103

Reversal of provision

for credit losses

(16 )

(336 )

(236 )

(352 )

(825 )

Balance, end of period

1,753

1,769

2,278

1,753

2,278

Allowance

for credit losses

$ 35,476

$ 36,629

$ 43,570

$ 35,476

$ 43,570

ALL to total loans held for investment

1.07 %

1.13 %

1.38 %

1.07 %

1.38 %

ACL to total loans held for investment

1.13 %

1.18 %

1.46 %

1.13 %

1.46 %

Net charge-offs to average total loans held-for-investment

(0.59 )%

(0.03 )%

(0.01 )%

(0.21 )%

(0.25 )%

(1)

Included in “Accrued interest and other liabilities” on the consolidated balance sheets.

California

BanCorp and Subsidiary

Balance

Sheets (Unaudited)

September

30,

2026

June

30,

2026

December

31,

2025

($ in thousands)

ASSETS

Cash and due from banks

$ 41,559

$ 55,196

$ 52,013

Federal funds sold &

other interest-bearing balances

225,094

209,755

347,900

Total cash and cash equivalents

266,653

264,951

399,913

Debt securities available-for-sale, at fair

value (amortized cost of $343,147, $316,289 and $237,191 at September 30, 2026, June 30, 2026 and December 31, 2025)

318,897

308,792

234,890

Debt securities held-to-maturity, at cost (fair

value of $45,680, $48,467 and $49,308 at September 30, 2026, June 30, 2026 and December 31, 2025)

52,673

52,761

52,936

Loans held for sale

15,389

15,828

25,105

Loans held for investment:

Construction & land

development

153,738

133,828

138,894

1-4 family residential

136,063

139,841

142,399

Multifamily

295,172

286,296

324,075

Other commercial real estate

1,925,968

1,906,910

1,820,445

Commercial & industrial

636,060

625,212

605,859

Other

consumer

1,538

2,666

2,215

Total loans held for investment

3,148,539

3,094,753

3,033,887

Allowance

for credit losses - loans

(33,723 )

(34,860 )

(34,348 )

Total loans held for investment,

net

3,114,816

3,059,893

2,999,539

Restricted stock at cost

30,976

30,941

30,932

Premises and equipment

12,023

12,154

12,116

Right of use asset

15,719

14,664

15,094

Other real estate owned, net

8,613

—

Goodwill

110,934

Intangible assets

16,104

16,880

18,480

Bank owned life insurance

68,404

67,903

67,367

Deferred taxes, net

30,491

26,054

29,041

Accrued interest and other

assets

44,004

34,891

37,039

Total

assets

$ 4,105,696

$ 4,025,259

$ 4,033,386

LIABILITIES AND SHAREHOLDERS’

EQUITY

Deposits:

Noninterest-bearing demand

$ 1,261,757

$ 1,256,822

$ 1,178,256

Interest-bearing NOW accounts

866,885

819,746

840,593

Money market and savings

accounts

1,258,855

1,190,498

1,223,486

Time

deposits

88,985

92,039

128,246

Total deposits

3,476,482

3,359,105

3,370,581

Borrowings

—

34,611

33,832

Operating lease liability

19,371

18,375

18,936

Accrued interest and other

liabilities

28,489

26,528

33,451

Total liabilities

3,524,342

3,438,619

3,456,800

Shareholders’ Equity:

Common stock - 50,000,000 shares authorized,

no par value; issued and outstanding 31,952,352, 32,110,117, and 32,418,182 at September 30, 2026, June 30, 2026 and December

31, 2025

430,900

434,514

442,394

Retained earnings

167,536

157,407

135,813

Accumulated other comprehensive

loss - net of taxes

(17,082 )

(5,281 )

(1,621 )

Total shareholders’

equity

581,354

586,640

576,586

Total

liabilities and shareholders’ equity

$ 4,105,696

$ 4,025,259

$ 4,033,386

California

BanCorp and Subsidiary

Income

Statements - Quarterly and Year-to-Date (Unaudited)

Three

Months Ended

Nine

Months Ended

September

30,

2026

June

30,

2026

September

30,

2025

September

30,

2026

September

30,

2025

($ in thousands

except share and per share data)

INTEREST AND DIVIDEND INCOME

Interest and fees on loans

$ 49,207

$ 47,970

$ 48,721

$ 142,805

$ 148,487

Interest on debt securities

3,641

3,528

2,142

9,947

5,417

Interest on tax-exempted debt securities

297

302

892

911

Interest and dividends

from other institutions

3,158

3,137

6,023

11,376

14,984

Total interest and dividend

income

56,303

54,932

57,188

165,020

169,799

INTEREST EXPENSE

Interest on NOW, savings, and money market

accounts

10,838

10,105

12,159

31,002

34,665

Interest on time deposits

727

778

1,402

2,448

5,015

Interest on borrowings

594

695

1,112

1,988

3,932

Total

interest expense

12,159

11,578

14,673

35,438

43,612

Net interest income

44,144

43,354

42,515

129,582

126,187

Provision

for (reversal of) credit losses (1)

3,215

714

(15 )

3,548

(4,425 )

Net interest income after

provision for (reversal of) credit losses

40,929

42,640

42,530

126,034

130,612

NONINTEREST INCOME

Service charges and fees on deposit accounts

1,159

1,097

1,099

3,356

3,463

Gain on sale of loans

—

577

Bank owned life insurance income

501

496

883

1,515

1,849

Servicing and related income on loans

204

313

Other charges and fees

(losses)

167

(93 )

617

515

1,888

Total noninterest income

1,902

1,551

2,668

5,590

8,090

NONINTEREST EXPENSE

Salaries and employee benefits

15,387

15,544

14,717

47,481

45,874

Occupancy and equipment expenses

1,996

1,944

2,060

5,929

6,306

Data processing

2,170

2,079

1,913

6,214

5,679

Legal, audit and professional

1,079

850

843

2,713

2,674

Regulatory assessments

519

544

508

1,590

1,775

Director and shareholder expenses

348

352

353

1,037

1,152

Intangible assets amortization

776

800

948

2,376

2,844

Other real estate owned expense (income), net

201

(10 )

309

920

Other expense

2,124

2,032

2,050

6,612

5,911

Total

noninterest expense

24,403

24,346

23,382

74,261

73,135

Income before income taxes

18,428

19,845

21,816

57,363

65,567

Income tax expense

4,412

5,545

6,132

15,256

18,931

Net

income

$ 14,016

$ 14,300

$ 15,684

$ 42,107

$ 46,636

Net income per share - basic

$ 0.44

$ 0.48

$ 1.31

$ 1.44

Net income per share - diluted

$ 0.43

$ 0.44

$ 0.48

$ 1.30

$ 1.42

Weighted average common shares-diluted

32,383,922

32,395,945

32,811,827

32,484,200

32,732,145

(1)

Included reversal of credit losses on unfunded loan commitments of $16 thousand, $336 thousand and $236 thousand for the three months

ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively; and $352 thousand and $825 thousand for the nine months

ended September 30, 2026 and September 30, 2025, respectively.

California

BanCorp and Subsidiary

Average

Balance Sheets and Yield Analysis

(Unaudited)

Three

Months Ended

September

30, 2026

June

30, 2026

September

30, 2025

Average

Balance

Income/

Expense

Yield/

Cost

Average

Balance

Income/

Expense

Yield/

Cost

Average

Balance

Income/

Expense

Yield/

Cost

($ in thousands)

Assets

Interest-earning assets:

Total loans

$ 3,105,177

$ 49,207

6.29 %

$ 3,037,033

$ 47,970

6.34 %

$ 2,974,224

$ 48,721

6.50 %

Taxable debt securities

308,549

3,641

4.68 %

306,837

3,528

4.61 %

191,922

2,142

4.43 %

Tax-exempt debt securities

(1)

52,174

297

2.86 %

52,262

297

2.89 %

53,092

302

2.86 %

Deposits in other financial institutions

281,944

2,620

3.69 %

230,941

2,123

3.69 %

452,615

5,101

4.47 %

Fed funds sold/resale agreements

18,517

178

3.81 %

30,700

301

3.93 %

29,575

315

4.23 %

Restricted stock investments

and other bank stock

31,782

360

4.49 %

31,759

713

9.00 %

31,702

607

7.60 %

Total interest-earning

assets

3,798,143

56,303

5.88 %

3,689,532

54,932

5.97 %

3,733,130

57,188

6.08 %

Total noninterest-earning

assets

309,489

307,720

308,742

Total

Assets

$ 4,107,632

$ 3,997,252

$ 4,041,872

Liabilities and Shareholders’

Equity

Interest-bearing liabilities:

Interest-bearing NOW accounts

$ 905,910

$ 3,820

1.67 %

$ 838,323

$ 3,543

1.70 %

$ 862,250

$ 4,172

1.92 %

Money market and savings accounts

1,210,132

7,018

2.30 %

1,176,250

6,562

2.24 %

1,194,541

7,987

2.65 %

Time deposits

90,920

727

3.17 %

96,848

778

3.22 %

151,633

1,402

3.67 %

Total interest-bearing

deposits

2,206,962

11,565

2.08 %

2,111,421

10,883

2.07 %

2,208,424

13,561

2.44 %

Borrowings:

FHLB advances and Federal Reserve Discount

Window borrowings

—

— %

—

— %

—

— %

Subordinated debt

23,454

594

10.05 %

34,421

695

8.10 %

52,952

1,112

8.33 %

Total

borrowings

23,482

594

10.04 %

34,421

695

8.10 %

52,952

1,112

8.33 %

Total interest-bearing liabilities

2,230,444

12,159

2.16 %

2,145,842

11,578

2.16 %

2,261,376

14,673

2.57 %

Noninterest-bearing liabilities:

Noninterest-bearing

deposits (2)

1,241,391

1,224,016

1,183,313

Other liabilities

47,665

44,695

43,640

Shareholders’ equity

588,132

582,699

553,543

Total

Liabilities and Shareholders’ Equity

$ 4,107,632

$ 3,997,252

$ 4,041,872

Net interest spread

3.72 %

3.81 %

3.51 %

Net

interest income and margin

$ 44,144

4.61 %

$ 43,354

4.71 %

$ 42,515

4.52 %

Cost of deposits

$ 3,448,353

$ 11,565

1.33 %

$ 3,335,437

$ 10,883

1.31 %

$ 3,391,737

$ 13,561

1.59 %

Cost of funds

$ 3,471,835

$ 12,159

1.39 %

$ 3,369,858

$ 11,578

1.38 %

$ 3,444,689

$ 14,673

1.69 %

(1)

Tax-exempt debt securities yields are presented on a tax equivalent basis using a 21% tax rate.

(2)

Average noninterest-bearing deposits represent 36.00%, 36.70% and 34.89% of average total deposits for the three months ended September

30, 2026, June 30, 2026 and September 30, 2025, respectively.

California

BanCorp and Subsidiary

Average

Balance Sheets and Yield Analysis

(Unaudited)

Nine

Months Ended

September

30, 2026

September

30, 2025

Average

Balance

Income/

Expense

Yield/

Cost

Average

Balance

Income/

Expense

Yield/

Cost

($ in thousands)

Assets

Interest-earning assets:

Total loans

$ 3,052,202

$ 142,805

6.26 %

$ 3,024,919

$ 148,487

6.56 %

Taxable debt securities

291,099

9,947

4.57 %

165,512

5,417

4.38 %

Tax-exempt debt securities

(1)

52,261

892

2.89 %

53,349

911

2.89 %

Deposits in other financial institutions

312,707

8,586

3.67 %

355,431

11,839

4.45 %

Fed funds sold/resale agreements

27,957

779

3.73 %

41,849

1,380

4.41 %

Restricted stock investments

and other bank stock

31,766

2,011

8.46 %

31,677

1,765

7.45 %

Total interest-earning

assets

3,767,992

165,020

5.86 %

3,672,737

169,799

6.18 %

Total noninterest-earning

assets

305,110

309,638

Total

Assets

$ 4,073,102

$ 3,982,375

Liabilities and Shareholders’

Equity

Interest-bearing liabilities:

Interest-bearing NOW accounts

$ 887,990

$ 10,725

1.61 %

$ 787,614

$ 11,204

1.90 %

Money market and savings accounts

1,198,372

20,277

2.26 %

1,168,715

23,461

2.68 %

Time deposits

100,893

2,448

3.24 %

174,529

5,015

3.84 %

Total interest-bearing

deposits

2,187,255

33,450

2.04 %

2,130,858

39,680

2.49 %

Borrowings:

FHLB advances and Federal Reserve Discount

Window borrowings

119

3.67 %

—

—%

Subordinated debt

30,599

1,985

8.67 %

63,317

3,932

8.30 %

Total

borrowings

30,718

1,988

8.65 %

63,317

3,932

8.30 %

Total interest-bearing liabilities

2,217,973

35,438

2.14 %

2,194,175

43,612

2.66 %

Noninterest-bearing liabilities:

Noninterest-bearing

deposits (2)

1,223,755

1,206,063

Other liabilities

47,344

45,188

Shareholders’ equity

584,030

536,949

Total

Liabilities and Shareholders’ Equity

$ 4,073,102

$ 3,982,375

Net interest spread

3.72 %

3.52 %

Net

interest income and margin

$ 129,582

4.60 %

$ 126,187

4.59 %

Cost of deposits

$ 3,411,010

$ 33,450

1.31 %

$ 3,336,921

$ 39,680

1.59 %

Cost of funds

$ 3,441,728

$ 35,438

1.38 %

$ 3,400,238

$ 43,612

1.71 %

(1)

Tax-exempt debt securities yields are presented on a tax equivalent basis using a 21% tax rate.

(2)

Average noninterest-bearing deposits represent 35.88%, and 36.14% of average total deposits for the nine months ended September 30, 2026

and September 30, 2025, respectively.

California

BanCorp and Subsidiary

GAAP

to Non-GAAP Reconciliation

(Unaudited)

The

following tables present a reconciliation of non-GAAP financial measures to GAAP measures for: (1) efficiency ratio, (2) pre-tax pre-provision

income, (3) average tangible common equity, (4) return on tangible common equity, (5) tangible common equity, (6) tangible assets, (7)

tangible common equity to tangible asset ratio, and (8) tangible book value per common share. We believe the presentation of certain

non-GAAP financial measures provides useful information to assess our consolidated financial condition and consolidated results of operations

and to assist investors in evaluating our financial results relative to our peers. These non-GAAP financial measures complement our GAAP

reporting and are presented below to provide investors and others with information that we use to manage the business each period. Because

not all companies use identical calculations, the presentation of these non-GAAP financial measures may not be comparable to other similarly

titled measures used by other companies. These non-GAAP measures should be taken together with the corresponding GAAP measures and should

not be considered a substitute of the GAAP measures.

Three

Months Ended

Nine

Months Ended

September

30,

2026

June

30,

2026

September

30,

2025

September

30,

2026

September

30,

2025

($ in thousands)

Efficiency

Ratio

Noninterest expense

$ 24,403

$ 24,346

$ 23,382

$ 74,261

$ 73,135

Net interest income

44,144

43,354

42,515

129,582

126,187

Noninterest income

1,902

1,551

2,668

5,590

8,090

Total net interest income

and noninterest income

$ 46,046

$ 44,905

$ 45,183

$ 135,172

$ 134,277

Efficiency ratio (non-GAAP)

53.00 %

54.22 %

51.75 %

54.94 %

54.47 %

Pre-tax

pre-provision income

Net interest income

$ 44,144

$ 43,354

$ 42,515

$ 129,582

$ 126,187

Noninterest income

1,902

1,551

2,668

5,590

8,090

Total net interest income and noninterest income

46,046

44,905

45,183

135,172

134,277

Less: Noninterest expense

24,403

24,346

23,382

74,261

73,135

Pre-tax pre-provision

income (non-GAAP)

$ 21,643

$ 20,559

$ 21,801

$ 60,911

$ 61,142

Return

on Average Assets, Equity, and Tangible Equity

Net income

$ 14,016

$ 14,300

$ 15,684

$ 42,107

$ 46,636

Average assets

$ 4,107,632

$ 3,997,252

$ 4,041,872

$ 4,073,102

$ 3,982,375

Average shareholders’ equity

588,132

582,699

553,543

584,030

536,949

Less: Average intangible

assets

127,406

128,203

130,825

128,195

132,321

Average tangible common

equity (non-GAAP)

$ 460,726

$ 454,496

$ 422,718

$ 455,835

$ 404,628

Return on average assets

1.35 %

1.43 %

1.54 %

1.38 %

1.57 %

Return on average equity

9.45 %

9.84 %

11.24 %

9.64 %

11.61 %

Return on average tangible common equity (non-GAAP)

12.07 %

12.62 %

14.72 %

12.35 %

15.41 %

September

30,

2026

June

30,

2026

December

31,

2025

($ in thousands

except share and per share data)

Tangible

Common Equity Ratio/Tangible Book Value Per Share

Shareholders’ equity

$ 581,354

$ 586,640

$ 576,586

Less: Intangible assets

127,038

127,814

129,414

Tangible common equity

(non-GAAP)

$ 454,316

$ 458,826

$ 447,172

Total assets

$ 4,105,696

$ 4,025,259

$ 4,033,386

Less: Intangible assets

127,038

127,814

129,414

Tangible assets (non-GAAP)

$ 3,978,658

$ 3,897,445

$ 3,903,972

Equity to asset ratio

14.16 %

14.57 %

14.30 %

Tangible common equity to tangible asset ratio

(non-GAAP)

11.42 %

11.77 %

11.45 %

Book value per share

$ 18.19

$ 18.27

$ 17.79

Tangible book value per share (non-GAAP)

$ 14.22

$ 14.29

$ 13.79

Shares outstanding

31,952,352

32,110,117

32,418,182

INVESTOR

RELATIONS CONTACT

Thomas

Dolan

California

Bank of Commerce, N.A.

IR@bankcbc.com

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Oct. 28, 2026

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El Camino Real

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