Form 8-K

8-K — California BanCorp \ CA

Accession: 0001493152-26-034705

Filed: 2026-07-27

Period: 2026-07-23

CIK: 0001795815

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — form8-k.htm (Primary)

EX-99.1 (ex99-1.htm)

EX-99.2 (ex99-2.htm)

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0001795815

2026-07-23

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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): July 23, 2026

CALIFORNIA

BANCORP

California 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

July 27, 2026, California BanCorp (the “Company”) issued an earnings release reporting its consolidated financial results

as of and for the second 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 Item 2.02 and Item 7.01 of 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

8.01 Other

Events

July 23, 2026, the Board of Directors of California BanCorp (the “Company”) approved the Company’s quarterly cash dividend

of $0.12 per share on its common stock. This dividend will be payable on October 15, 2026, to holders of its common stock of record as

of the close of business on September 21, 2026.

Item

9.01 Financial

Statements and Exhibits.

Exhibit

No.

Description

99.1

Earnings Press Release date July 27, 2026

99.2

Investor Presentation, Second 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:

July 27, 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 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%, from the prior quarter. The net income and diluted earnings per share increase were largely driven

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

income.

Net

Interest Income and Net Interest Margin

Net

interest income for the second quarter of 2026 was $43.4 million, compared with $42.1 million in the prior quarter. The increase in net

interest income was primarily due to a $1.1 million increase in total interest and dividend income, coupled with a $123 thousand decrease

in total interest expense in the second 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 second quarter of 2026, total interest income increased by $1.1 million. The increase was primarily driven by a $2.3 million increase

in loan interest income, which included an increase of $98 thousand in accretion from the net purchase accounting discounts on acquired

loans and $600 thousand in cash interest collections from the payoff of two nonaccrual loans, net of $56 thousand in reversals of interest

income on loans placed on nonaccrual, coupled with an increase of $749 thousand in total debt securities income. These increases were

partially offset by a decrease of $1.7 million in interest income from deposits in other financial institutions and a decrease of $225

thousand in dividend income from restricted stock investments and other bank stock. The increase in interest income was mainly due to

a 25 basis point increase in the yield on average total interest-earning assets, including increases in average total loans of $23.6

million, and average total debt securities of $49.4 million, offset by decreases in average deposits in other financial institutions

of $195.9 million and average Fed funds sold/resale agreements of $4.1 million. The decrease in interest expense for the second quarter

of 2026 was primarily due to a $119 thousand decrease in interest expense on average total interest-bearing deposits, the result of lower

average total interest-bearing deposits of $132.4 million, partially offset by an 8 basis point increase in the cost of average total

interest-bearing deposits.

Net

interest margin for the second quarter of 2026 was 4.71%, compared with 4.47% in the prior quarter. The expansion of the net interest

margin by 24 basis points was primarily driven by higher loan yields, a 6 basis point increase from the resolution of certain nonaccrual

loans, and continued benefit from purchase accounting accretion. Total interest-earning assets yield increased by 25 basis points, partially

offset by a 2 basis point increase in the cost of funds. The yield on total average interest-earning assets in the second quarter of

2026 was 5.97%, compared with 5.72% in the prior quarter. The yield on average total loans in the second quarter of 2026 was 6.34%, an

increase of 20 basis points from 6.14% in the prior quarter. The yield on average total loans in the second quarter of 2026 included

the impact of the cash interest collection from the payoff of two nonaccrual loans, net of reversals of interest income on loans placed

on nonaccrual noted above, which increased the overall total loan yield by 7 basis points. There was a $479 thousand reversal of interest

income in the prior quarter which negatively impacted the net interest margin by 6 basis points. 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 interest expense

by $389 thousand, the combination of which increased the net interest margin by 32 basis points in the second quarter of 2026. In the

prior quarter, accretion income from the net purchase accounting discounts on acquired loans was $3.2 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 $388 thousand, the combination of which increased the net interest

margin by 30 basis points.

Cost

of funds for the second quarter of 2026 was 1.38%, an increase of 2 basis points from 1.36% in the prior quarter. The increase was primarily

driven by an 8 basis point increase in the cost of average total interest-bearing deposits. The amortization expense of $389 thousand

from the purchase accounting discounts on acquired subordinated debt and acquired time deposits premium contributed 5 basis points to

the cost of funds. Average noninterest-bearing demand deposits increased $18.6 million to $1.22 billion and represented 36.7% of total

average deposits for the second quarter of 2026, compared with $1.21 billion and 34.9%, respectively, in the prior quarter; average interest-bearing

deposits decreased $132.4 million to $2.11 billion during the second quarter of 2026. The total cost of deposits in the second quarter

of 2026 was 1.31%, compared with 1.29% in the prior quarter. The cost of total interest-bearing deposits increased 8 basis points, driven

primarily by changes in the Company’s deposit mix and overall competition for deposits driving market deposit rates upward in the

second quarter of 2026.

Average

total borrowings increased $51 thousand to $34.4 million in the second quarter of 2026, primarily due to a $384 thousand increase in

average subordinated debt due to accretion of discounts, partially offset by a $333 thousand decrease in average Federal Home Loan Bank

(“FHLB”) advances from an overnight advance. The average cost of total borrowings was 8.10% for the second quarter of 2026,

down from 8.25% in the prior quarter.

Provision

for Credit Losses

The

Company recorded a provision for credit losses of $714 thousand for the second quarter of 2026, compared with a reversal of provision

for credit losses of $381 thousand in the prior quarter. The provision for credit losses in the second quarter of 2026 was comprised

of a $1.1 million provision for credit losses on loans held for investment, partially offset by a $336 thousand reversal of provision

for credit losses for unfunded loan commitments during the second quarter of 2026. Total unfunded loan commitments decreased by $28.2

million to $896.9 million at June 30, 2026, compared to $925.1 million in unfunded loan commitments at March 31, 2026.

The

provision for credit losses for loans held for investment in the second quarter of 2026 was $1.1 million, an increase of $1.4 million

from a reversal of provision for credit losses of $381 thousand in the prior quarter. The increase reflected updates to the reasonable

and supportable economic forecasts for California, continued loan growth, changes in portfolio composition, and higher substandard accruing

loan balances, partially offset by refinements to the qualitative factors and scenario weighting. 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 $1.6 million in the second quarter of 2026, a decrease of $586 thousand compared with $2.1 million in the first

quarter of 2026. Other charges and fees decreased $534 thousand in the second quarter due primarily to a loss from equity investments

of $251 thousand in the second quarter of 2026 compared to income of $181 thousand in the prior quarter.

Noninterest

Expense

Total

noninterest expense for the second quarter of 2026 was $24.3 million, a decrease of $1.2 million from total noninterest expense of $25.5

million in the prior quarter. Salaries and employee benefits decreased $1.0 million during the second quarter of 2026 to $15.5 million

primarily because the previous quarter included increases in payroll taxes typically occurring in the first quarter each year, coupled

with the increase in loan origination costs deferred based on increased loan origination activity. The decrease in other expenses of

$424 thousand was due primarily to the decreases in loan related expenses and valuation write-downs on loans held for sale. There were

no valuation write-downs on loans held for sale in the second quarter of 2026, compared with $266 thousand in the prior quarter.

Efficiency

ratio (non-GAAP1) for the second quarter of 2026 was 54.22%, compared with 57.69% in the prior quarter.

Income

Tax

the second quarter of 2026, the Company’s income tax expense was $5.5 million, compared with $5.3 million for the first quarter

of 2026. The effective rate was 27.9% for the second quarter of 2026 and 27.8% for the first quarter of 2026.

Balance

Sheet

Assets

Total

assets at June 30, 2026 were $4.03 billion, a decrease of $23.5 million or 0.6% from March 31, 2026. The decrease in total assets from

the prior quarter was primarily related to decreases in cash and cash equivalents of $146.2 million, partially offset by a $113.7 million

increase in loans, including loans held for sale and a $10.2 million increase in available-for-sale debt securities.

Loans

Total

loans held for investment (“LHFI”) were $3.09 billion at June 30, 2026, an increase of $121.9 million, compared with March

31, 2026. During the second quarter of 2026, there were new originations of $245.6 million, including $26.5 million of short-term participation

purchases in fully collateralized mortgage loans, net advances of $32.4 million, and the transfer of $7.4 million of SBA 7(a) loans from

loans held for sale to loans held for investment at net amortized cost. These increases were partially offset by $163.3 million loan

payoffs, including a $5.7 million discounted note sale that resulted in a $127 thousand charge-off. Total loans secured by real estate

increased by $75.7 million, of which other commercial real estate loans increased $58.2 million; multifamily loans increased $13.3 million,

and 1-4 family residential loans increased by $10.7 million; commercial and industrial loans increased by $45.6 million, including $26.5

million of aforementioned participation purchases in mortgage loans through approved warehouse facilities; and other consumer loans increased

by $629 thousand. These increases were partially offset by a decrease in construction and land development loans of $6.5 million.

The

Company had $15.8 million in loans held for sale at June 30, 2026, consisting entirely of consumer solar loans, compared with $24.1 million

at March 31, 2026, consisting of $7.6 million of SBA 7(a) loans and $16.5 million of consumer solar loans. During the second quarter

of 2026, the Company transferred its $7.4 million SBA 7(a) loans held for sale to loans held for investment at net amortized cost. The

Company did not record a valuation write-down related to its consumer solar loans in the second quarter of 2026. In the first quarter

of 2026, the Company recorded a valuation allowance of $266 thousand related to these loans.

Deposits

Total

deposits at June 30, 2026 were $3.36 billion, a decrease of $34.4 million from March 31, 2026. The decrease was primarily due to decreases

in interest-bearing non-maturity deposits of $30.0 million, non-brokered time deposits of $13.9 million, partially offset by an increase

in noninterest-bearing demand deposits of $9.5 million. Noninterest-bearing demand deposits at June 30, 2026, were $1.26 billion, or

37.4% of total deposits, compared with $1.25 billion, or 36.8% of total deposits at March 31, 2026. At June 30, 2026, total interest-bearing

deposits were $2.10 billion, compared with $2.15 billion at March 31, 2026. At June 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 $705.2 million, or 21.0% of total deposits at June 30, 2026, compared with $723.7 million, or 21.3% of

total deposits at March 31, 2026.

Federal

Home Loan Bank (“FHLB”) and Liquidity

June 30, 2026 and March 31, 2026, the Company had no FHLB or Federal Reserve Discount Window borrowings.

June 30, 2026, the Company had available borrowing capacity from an FHLB secured line of credit of approximately $719.8 million and available

borrowing capacity from the Federal Reserve Discount Window of approximately $329.7 million. The Company also had available borrowing

capacity from four unsecured credit lines from correspondent banks of approximately $90.5 million at June 30, 2026, with no outstanding

borrowings. Total available borrowing capacity was $1.14 billion at June 30, 2026. Additionally, the Company had unpledged liquid securities

at fair value of approximately $211.0 million and cash and cash equivalents of $265.0 million at June 30, 2026.

The

Company intends to redeem all $35.0 million of its 3.50% fixed-to-floating rate subordinated debt due September 1, 2031, at par value

during the third quarter of 2026. Starting in September 2026, the interest rate on that subordinated debt is 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 $17.5 million, or 0.44% of total assets at June 30, 2026, a decrease of $21.7 million, or 55.3%, from $39.2

million, or 0.97% of total assets, at March 31, 2026. Total non-performing loans were $8.9 million, or 0.29% of total loans held for

investment at June 30, 2026, compared with $30.6 million, or 1.03% of total loans held for investment at March 31, 2026.

Total

nonperforming loans decreased $21.7 million, or 70.9%, during the second quarter of 2026 primarily reflecting the resolution of three

nonperforming commercial real estate loans that had been downgraded in the prior quarter, including the full repayment of two loans with

a combined net carrying value of $17.8 million and the discounted note sale of a $5.7 million loan, which resulted in a $127 thousand

charge-off. In addition, existing nonperforming loans had net paydowns of $758 thousand during the quarter. These decreases were partially

offset by the downgrade of a 1-4 family residential investment loan with a net carrying value of $2.7 million at June 30, 2026. This

loan is classified as an individually evaluated, collateral-dependent loan and no allowance was recorded at June 30, 2026, as a full

repayment is anticipated.

Special

mention loans decreased by $5.0 million during the second quarter of 2026 to $48.6 million at June 30, 2026. The decrease in the special

mention loans was due mostly to $7.7 million of loans downgraded to substandard, coupled with $3.7 million in payoffs and $70 thousand

in upgrades to pass rating, partially offset by $5.1 million of loans downgraded from pass rating, and $1.3 million in net advances,

Substandard

loans decreased by $8.2 million during the second quarter of 2026 to $64.2 million at June 30, 2026. The decrease in the substandard

loans was due primarily to the aforementioned payoffs and discounted note sales of three nonperforming commercial real estate loans totaling

$23.6 million, coupled with $6.0 million of other payoffs and $1.2 million of net paydowns, partially offset by $14.9 million of downgrades

from pass risk rating to substandard accruing and $7.7 million of downgrades from special mention to substandard accruing.

The

Company had no LHFI that were over 90 days past due and still accruing interest at June 30, 2026 and March 31, 2026, respectively.

Loan

delinquencies (30-89 days past due, excluding nonaccrual loans) totaled $4.9 million at June 30, 2026, compared with $12.8 million in

such loan delinquencies at March 31, 2026. The decrease was primarily due to $10.0 million of loans brought to current, and $2.7 million

of 1-4 family residential loan downgraded to nonaccrual, partially offset by $4.5 million of loans that became delinquent during the

second quarter of 2026.

The

allowance for credit losses, which is comprised of the ALL and reserve for unfunded loan commitments, totaled $36.6 million at June 30,

2026, compared with $36.1 million at March 31, 2026. The $522 thousand increase in the allowance for credit losses included a $1.1 million

provision for credit losses for the loan portfolio, net charge-offs of $192 thousand, and a $336 thousand reversal of provision for credit

losses for unfunded loan commitments for the quarter ended June 30, 2026.

The

ALL was $34.9 million, or 1.13% of total loans held for investment at June 30, 2026, compared with $34.0 million, or 1.14% at March 31,

2026.

Capital

Tangible

book value per common share (non-GAAP1) at June 30, 2026 was $14.29, compared with $13.97 at March 31, 2026. In the second

quarter of 2026, tangible book value was primarily impacted by net income of $14.3 million for the second quarter, and stock-based compensation

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

stock repurchase program activity, and cash dividends, which reduced the tangible book value per common share by $0.05, $0.06 and $0.10,

respectively. Other comprehensive losses related to net of tax unrealized losses on available-for-sale debt securities increased by $1.5

million to $5.3 million at June 30, 2026, from $3.8 million at March 31, 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 June 30, 2026, increased to 11.77% from 11.46% 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 June 30, 2026 increased to 1.2% from 0.8% in the prior quarter.

The

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

Stock

Repurchase Program

During

the second quarter of 2026, the Company repurchased 102,594 shares of its common stock at an average price of $19.46 and a total cost

of $2.0 million under the stock repurchase program, 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. The remaining maximum number of shares authorized to be repurchased under this program

was 875,563 shares at June 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 11 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

Six

Months Ended

June

30,

2026

March

31,

2026

June

30,

2025

June

30,

2026

June

30,

2025

in thousands except share and per share data)

EARNINGS

Net

interest income

$ 43,354

$ 42,084

$ 41,417

$ 85,438

$ 83,672

Provision

for (reversal of) credit losses

$ 714

$ (381 )

$ (634 )

$ 333

$ (4,410 )

Noninterest

income

$ 1,551

$ 2,137

$ 2,856

$ 3,688

$ 5,422

Noninterest

expense

$ 24,346

$ 25,512

$ 24,833

$ 49,858

$ 49,753

Income

tax expense

$ 5,545

$ 5,299

$ 5,975

$ 10,844

$ 12,799

Net

income

$ 14,300

$ 13,791

$ 14,099

$ 28,091

$ 30,952

Pre-tax

pre-provision income (1)

$ 20,559

$ 18,709

$ 19,440

$ 39,268

$ 39,341

Diluted

earnings per share

$ 0.44

$ 0.42

$ 0.43

$ 0.86

$ 0.95

outstanding at period end

32,110,117

32,152,298

32,463,311

32,110,117

32,463,311

PERFORMANCE

RATIOS

Return

on average assets

1.43 %

1.36 %

1.45 %

1.40 %

1.58 %

Return

on average common equity

9.84 %

9.62 %

10.50 %

9.73 %

11.81 %

Yield

on total loans

6.34 %

6.14 %

6.58 %

6.24 %

6.59 %

Yield

on interest earning assets

5.97 %

5.72 %

6.21 %

5.84 %

6.24 %

Cost

of deposits

1.31 %

1.29 %

1.59 %

1.30 %

1.59 %

Cost

of funds

1.38 %

1.36 %

1.73 %

1.37 %

1.73 %

Net

interest margin

4.71 %

4.47 %

4.61 %

4.59 %

4.63 %

Efficiency

ratio (1)

54.22 %

57.69 %

56.09 %

55.94 %

55.84 %

June

30,

2026

March

31,

2026

December

31,

2025

in thousands except share and per share data)

CAPITAL

Tangible

equity to tangible assets (1)

11.77 %

11.46 %

11.45 %

Book

value (BV) per common share

$ 18.27

$ 17.97

$ 17.79

Tangible

BV per common share (1)

$ 14.29

$ 13.97

$ 13.79

ASSET

QUALITY

Allowance

for loan losses (ALL)

$ 34,860

$ 34,002

$ 34,348

Reserve

for unfunded loan commitments

$ 1,769

$ 2,105

Allowance

for credit losses (ACL)

$ 36,629

$ 36,107

$ 36,453

Allowance

for loan losses to nonperforming loans

390.7 %

111.0 %

213.5 %

ALL

to total loans held for investment

1.13 %

1.14 %

1.13 %

ACL

to total loans held for investment

1.18 %

1.21 %

1.20 %

30-89

days past due, excluding nonaccrual loans

$ 4,941

$ 12,793

$ 14,735

Over

90 days past due, excluding nonaccrual loans

$ —

Special

mention loans

$ 48,640

$ 53,680

$ 72,407

Special

mention loans to total loans held for investment

1.57 %

1.81 %

2.39 %

Substandard

loans

$ 64,209

$ 72,392

$ 60,681

Substandard

loans to total loans held for investment

2.07 %

2.44 %

2.00 %

Nonperforming

loans

$ 8,922

$ 30,625

$ 16,086

Nonperforming

loans to total loans held for investment

0.29 %

1.03 %

0.53 %

Other

real estate owned, net

$ 8,613

$ —

Nonperforming

assets

$ 17,535

$ 39,238

$ 16,086

Nonperforming

assets to total assets

0.44 %

0.97 %

0.40 %

June

30,

2026

March

31,

2026

December

31,

2025

in thousands except share and per share data)

END OF

PERIOD BALANCES

Total loans,

including loans held for sale

$ 3,110,581

$ 2,996,929

$ 3,058,992

Total assets

$ 4,025,259

$ 4,048,734

$ 4,033,386

Deposits

$ 3,359,105

$ 3,393,485

$ 3,370,581

Loans to deposits

92.6 %

88.3 %

90.8 %

Shareholders’ equity

$ 586,640

$ 577,835

$ 576,586

(1)

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

or for the

Three

Months Ended

or for the

Six

Months Ended

ALLOWANCE

for CREDIT LOSSES

June

30,

2026

March

31,

2026

June

30,

2025

June

30,

2026

June

30,

2025

in thousands)

Allowance

for loan losses

Balance at beginning

of period

$ 34,002

$ 34,348

$ 45,839

$ 34,348

$ 50,540

Provision for (reversal of)

credit losses

1,050

(381 )

(663 )

669

(3,821 )

Charge-offs

(193 )

—

(4,247 )

(193 )

(7,406 )

Recoveries

181

1,797

Net (charge-offs)

recoveries

(192 )

(4,066 )

(157 )

(5,609 )

Balance,

end of period

$ 34,860

$ 34,002

$ 41,110

$ 34,860

$ 41,110

Reserve

for unfunded loan commitments (1)

Balance, beginning of period

$ 2,105

$ 2,485

$ 2,105

$ 3,103

(Reversal

of) provision for credit losses

(336 )

—

(336 )

(589 )

Balance,

end of period

1,769

2,105

2,514

1,769

2,514

Allowance

for credit losses

$ 36,629

$ 36,107

$ 43,624

$ 36,629

$ 43,624

ALL to total loans held for

investment

1.13 %

1.14 %

1.37 %

1.13 %

1.37 %

ACL to total loans held for

investment

1.18 %

1.21 %

1.46 %

1.18 %

1.46 %

Net (charge-offs) recoveries

to average total loans

(0.03 )%

0.00 %

(0.54 )%

(0.01 )%

(0.37 )%

(1)

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

California

BanCorp and Subsidiary

Balance

Sheets (Unaudited)

June

30,

2026

March

31,

2026

December

31,

2025

in thousands)

ASSETS

Cash and due from

banks

$ 55,196

$ 56,390

$ 52,013

Federal

funds sold & other interest-bearing balances

209,755

354,750

347,900

Total

cash and cash equivalents

264,951

411,140

399,913

Debt securities available-for-sale,

at fair value (amortized cost of $316,289, $303,968 and $237,191 at June 30, 2026, March 31, 2026 and December 31, 2025)

308,792

298,617

234,890

Debt securities held-to-maturity,

at cost (fair value of $49,054, $48,467 and $49,308 at June 30, 2026, March 31, 2026 and December 31, 2025)

52,761

52,849

52,936

Loans held for sale

15,828

24,096

25,105

Loans held for investment:

Construction

& land development

133,828

140,345

138,894

1-4 family

residential

139,841

129,121

142,399

Multifamily

286,296

273,007

324,075

Other

commercial real estate

1,906,910

1,848,663

1,820,445

Commercial

& industrial

625,212

579,660

605,859

Other

consumer

2,666

2,037

2,215

Total

loans held for investment

3,094,753

2,972,833

3,033,887

Allowance

for credit losses - loans

(34,860 )

(34,002 )

(34,348 )

Total

loans held for investment, net

3,059,893

2,938,831

2,999,539

Restricted stock at cost

30,941

30,940

30,932

Premises and equipment

12,154

11,978

12,116

Right of use asset

14,664

15,463

15,094

Other real estate owned, net

8,613

—

Goodwill

110,934

Intangible assets

16,880

17,680

18,480

Bank owned life insurance

67,903

67,407

67,367

Deferred taxes, net

26,054

26,184

29,041

Accrued

interest and other assets

34,891

34,002

37,039

Total

assets

$ 4,025,259

$ 4,048,734

$ 4,033,386

LIABILITIES

AND SHAREHOLDERS’ EQUITY

Deposits:

Noninterest-bearing

demand

$ 1,256,822

$ 1,247,363

$ 1,178,256

Interest-bearing

NOW accounts

819,746

833,601

840,593

Money

market and savings accounts

1,190,498

1,206,598

1,223,486

Time

deposits

92,039

105,923

128,246

Total deposits

3,359,105

3,393,485

3,370,581

Borrowings

34,611

34,221

33,832

Operating lease liability

18,375

19,184

18,936

Accrued

interest and other liabilities

26,528

24,009

33,451

Total

liabilities

3,438,619

3,470,899

3,456,800

Shareholders’

Equity:

Common stock - 50,000,000

shares authorized, no par value; issued and outstanding 32,110,117, 32,152,298, and 32,418,182 at June 30, 2026, March 31, 2026 and

December 31, 2025

434,514

435,249

442,394

Retained earnings

157,407

146,355

135,813

Accumulated

other comprehensive loss - net of taxes

(5,281 )

(3,769 )

(1,621 )

Total

shareholders’ equity

586,640

577,835

576,586

Total

liabilities and shareholders’ equity

$ 4,025,259

$ 4,048,734

$ 4,033,386

California

BanCorp and Subsidiary

Income

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

Three

Months Ended

Six

Months Ended

June

30,

2026

March

31,

2026

June

30,

2025

June

30,

2026

June

30,

2025

in thousands except share and per share data)

INTEREST

AND DIVIDEND INCOME

Interest and fees

on loans

$ 47,970

$ 45,628

$ 49,080

$ 93,598

$ 99,766

Interest on debt securities

3,528

2,778

1,751

6,306

3,275

Interest on tax-exempted debt

securities

297

298

304

595

609

Interest

and dividends from other institutions

3,137

5,081

4,651

8,218

8,961

Total

interest and dividend income

54,932

53,785

55,786

108,717

112,611

INTEREST

EXPENSE

Interest on NOW, savings,

and money market accounts

10,105

10,059

11,390

20,164

22,506

Interest on time deposits

778

943

1,550

1,721

3,613

Interest

on borrowings

695

699

1,429

1,394

2,820

Total

interest expense

11,578

11,701

14,369

23,279

28,939

Net interest

income

43,354

42,084

41,417

85,438

83,672

Provision

for (reversal of) credit losses (1)

714

(381 )

(634 )

333

(4,410 )

Net interest

income after provision for (reversal of) credit losses

42,640

42,465

42,051

85,105

88,082

NONINTEREST

INCOME

Service charges and fees on

deposit accounts

1,097

1,100

1,178

2,197

2,364

Gain on sale of loans

—

577

Bank owned life insurance

income

496

518

503

1,014

966

Servicing and related income

on loans

102

129

244

Other

charges and fees

(93 )

441

1,073

348

1,271

Total

noninterest income

1,551

2,137

2,856

3,688

5,422

NONINTEREST

EXPENSE

Salaries and employee benefits

15,544

16,550

15,293

32,094

31,157

Occupancy and equipment expenses

1,944

1,989

2,094

3,933

4,246

Data processing

2,079

1,965

1,831

4,044

3,766

Legal, audit and professional

850

709

972

1,559

1,831

Regulatory assessments

544

527

545

1,071

1,267

Director and shareholder expenses

352

337

395

689

799

Intangible assets amortization

800

948

1,600

1,896

Litigation settlements, net

—

Other real estate owned income,

net

201

104

862

305

930

Other

expense

2,032

2,456

1,893

4,488

3,861

Total

noninterest expense

24,346

25,512

24,833

49,858

49,753

Income

before income taxes

19,845

19,090

20,074

38,935

43,751

Income

tax expense

5,545

5,299

5,975

10,844

12,799

Net

income

$ 14,300

$ 13,791

$ 14,099

$ 28,091

$ 30,952

Net income per share - basic

$ 0.44

$ 0.43

$ 0.87

$ 0.96

Net income per share - diluted

$ 0.44

$ 0.42

$ 0.43

$ 0.86

$ 0.95

Weighted average common shares-diluted

32,395,945

32,675,943

32,685,132

32,535,171

32,691,643

(1)

Included (reversal of) provision for credit losses on unfunded loan commitments of $(336) thousand, zero and $29 thousand for the three

months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively; and $(336) thousand and $(589) thousand for the six months

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

California

BanCorp and Subsidiary

Average

Balance Sheets and Yield Analysis

(Unaudited)

Three

Months Ended

June

30, 2026

March

31, 2026

June

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

$ 3,037,033

$ 47,970

6.34 %

$ 3,013,389

$ 45,628

6.14 %

$ 2,992,299

$ 49,080

6.58 %

Taxable debt securities

306,837

3,528

4.61 %

257,350

2,778

4.38 %

164,558

1,751

4.27 %

Tax-exempt debt securities

(1)

52,262

297

2.89 %

52,350

298

2.92 %

53,438

304

2.89 %

Deposits in other financial

institutions

230,941

2,123

3.69 %

426,830

3,843

3.65 %

295,602

3,270

4.44 %

Fed funds sold/resale agreements

30,700

301

3.93 %

34,836

300

3.49 %

65,568

730

4.47 %

Restricted

stock investments and other bank stock

31,759

713

9.00 %

31,756

938

11.98 %

31,672

651

8.24 %

Total

interest-earning assets

3,689,532

54,932

5.97 %

3,816,511

53,785

5.72 %

3,603,137

55,786

6.21 %

Total

noninterest-earning assets

307,720

297,987

302,142

Total

Assets

$ 3,997,252

$ 4,114,498

$ 3,905,279

Liabilities

and Shareholders’ Equity

Interest-bearing

liabilities:

Interest-bearing NOW accounts

$ 838,323

$ 3,543

1.70 %

$ 919,891

$ 3,362

1.48 %

$ 763,987

$ 3,666

1.92 %

Money market and savings accounts

1,176,250

6,562

2.24 %

1,208,718

6,697

2.25 %

1,149,286

7,724

2.70 %

Time

deposits

96,848

778

3.22 %

115,179

943

3.32 %

165,049

1,550

3.77 %

Total

interest-bearing deposits

2,111,421

10,883

2.07 %

2,243,788

11,002

1.99 %

2,078,322

12,940

2.50 %

Borrowings:

FHLB advances

—

—%

333

3.98 %

—

Subordinated

debt

34,421

695

8.10 %

34,037

696

8.29 %

67,159

1,429

8.53 %

Total

borrowings

34,421

695

8.10 %

34,370

699

8.25 %

67,159

1,429

8.53 %

Total interest-bearing liabilities

2,145,842

11,578

2.16 %

2,278,158

11,701

2.08 %

2,145,481

14,369

2.69 %

Noninterest-bearing liabilities:

Noninterest-bearing

deposits (2)

1,224,016

1,205,464

1,179,791

Other

liabilities

44,695

49,692

41,629

Shareholders’

equity

582,699

581,184

538,378

Total

Liabilities and Shareholders’ Equity

$ 3,997,252

$ 4,114,498

$ 3,905,279

Net interest

spread

3.81 %

3.64 %

3.52 %

Net

interest income and margin

$ 43,354

4.71 %

$ 42,084

4.47 %

$ 41,417

4.61 %

Cost of deposits

$ 3,335,437

$ 10,883

1.31 %

$ 3,449,252

$ 11,002

1.29 %

$ 3,258,113

$ 12,940

1.59 %

Cost of funds

$ 3,369,858

$ 11,578

1.38 %

$ 3,483,622

$ 11,701

1.36 %

$ 3,325,272

$ 14,369

1.73 %

(1)

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

(2)

Average noninterest-bearing deposits represent 36.70%, 34.95% and 36.21% of average total deposits for the three months ended June 30,

2026, March 31, 2026 and June 30, 2025, respectively.

California

BanCorp and Subsidiary

Average

Balance Sheets and Yield Analysis

(Unaudited)

Six

Months Ended

June

30, 2026

June

30, 2025

Average

Balance

Income/

Expense

Yield/

Cost

Average

Balance

Income/

Expense

Yield/

Cost

in thousands)

Assets

Interest-earning

assets:

Total loans

$ 3,025,276

$ 93,598

6.24 %

$ 3,050,686

$ 99,766

6.59 %

Taxable debt securities

282,230

6,306

4.51 %

152,089

3,275

4.34 %

Tax-exempt debt securities

(1)

52,306

595

2.90 %

53,480

609

2.91 %

Deposits in other financial

institutions

328,344

5,966

3.66 %

306,034

6,738

4.44 %

Fed funds sold/resale agreements

32,756

601

3.70 %

48,088

1,065

4.47 %

Restricted

stock investments and other bank stock

31,757

1,651

10.48 %

31,665

1,158

7.37 %

Total interest-earning

assets

3,752,669

108,717

5.84 %

3,642,042

112,611

6.24 %

Total

noninterest-earning assets

302,882

310,092

Total

Assets

$ 4,055,551

$ 3,952,134

Liabilities

and Shareholders’ Equity

Interest-bearing

liabilities:

Interest-bearing NOW accounts

$ 878,882

$ 6,905

1.58 %

$ 749,677

$ 7,032

1.89 %

Money market and savings

accounts

1,192,394

13,259

2.24 %

1,155,588

15,474

2.70 %

Time

deposits

105,963

1,721

3.28 %

186,167

3,613

3.91 %

Total interest-bearing

deposits

2,177,239

21,885

2.03 %

2,091,432

26,119

2.52 %

Borrowings:

FHLB advances

166

3.97 %

—

Subordinated

debt

34,230

1,391

8.19 %

68,585

2,820

8.29 %

Total

borrowings

34,396

1,394

8.17 %

68,585

2,820

8.29 %

Total interest-bearing

liabilities

2,211,635

23,279

2.12 %

2,160,017

28,939

2.70 %

Noninterest-bearing liabilities:

Noninterest-bearing deposits

(2)

1,214,791

1,217,627

Other liabilities

47,180

45,974

Shareholders’

equity

581,945

528,516

Total

Liabilities and Shareholders’ Equity

$ 4,055,551

$ 3,952,134

Net

interest spread

3.72 %

3.54 %

Net

interest income and margin

$ 85,438

4.59 %

$ 83,672

4.63 %

Cost of deposits

$ 3,392,030

$ 21,885

1.30 %

$ 3,309,059

$ 26,119

1.59 %

Cost of funds

$ 3,426,426

$ 23,279

1.37 %

$ 3,377,644

$ 28,939

1.73 %

(1)

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

(2)

Average noninterest-bearing deposits represent 35.81%, and 36.80% of average total deposits for the six months ended June 30, 2026 and

June 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

Six Months Ended

June 30,

2026

March 31,

2026

June 30,

2025

June 30,

2026

June 30,

2025

($ in thousands)

Efficiency Ratio

Noninterest expense

$ 24,346

$ 25,512

$ 24,833

$ 49,858

$ 49,753

Net interest income

43,354

42,084

41,417

85,438

83,672

Noninterest income

1,551

2,137

2,856

3,688

5,422

Total net interest income and noninterest income

$ 44,905

$ 44,221

$ 44,273

$ 89,126

$ 89,094

Efficiency ratio (non-GAAP)

54.22 %

57.69 %

56.09 %

55.94 %

55.84 %

Pre-tax pre-provision income

Net interest income

$ 43,354

$ 42,084

$ 41,417

$ 85,438

$ 83,672

Noninterest income

1,551

2,137

2,856

3,688

5,422

Total net interest income and noninterest income

44,905

44,221

44,273

89,126

89,094

Less: Noninterest expense

24,346

25,512

24,833

49,858

49,753

Pre-tax pre-provision income (non-GAAP)

$ 20,559

$ 18,709

$ 19,440

$ 39,268

$ 39,341

Return on Average Assets, Equity, and Tangible Equity

Net income

$ 14,300

$ 13,791

$ 14,099

$ 28,091

$ 30,952

Average assets

$ 3,997,252

$ 4,114,498

$ 3,905,279

$ 4,055,551

$ 3,952,134

Average shareholders’ equity

582,699

581,184

538,378

581,945

528,516

Less: Average intangible assets

128,203

128,992

132,600

128,595

133,081

Average tangible common equity (non-GAAP)

$ 454,496

$ 452,192

$ 405,778

$ 453,350

$ 395,435

Return on average assets

1.43 %

1.36 %

1.45 %

1.40 %

1.58 %

Return on average equity

9.84 %

9.62 %

10.50 %

9.73 %

11.81 %

Return on average tangible common equity (non-GAAP)

12.62 %

12.37 %

13.94 %

12.50 %

15.78 %

June 30,

2026

March 31,

2026

December 31,

2025

($ in thousands except share and per share data)

Tangible Common Equity Ratio/Tangible Book Value Per Share

Shareholders’ equity

$ 586,640

$ 577,835

$ 576,586

Less: Intangible assets

127,814

128,614

129,414

Tangible common equity (non-GAAP)

$ 458,826

$ 449,221

$ 447,172

Total assets

$ 4,025,259

$ 4,048,734

$ 4,033,386

Less: Intangible assets

127,814

128,614

129,414

Tangible assets (non-GAAP)

$ 3,897,445

$ 3,920,120

$ 3,903,972

Equity to asset ratio

14.57 %

14.27 %

14.30 %

Tangible common equity to tangible asset ratio (non-GAAP)

11.77 %

11.46 %

11.45 %

Book value per share

$ 18.27

$ 17.97

$ 17.79

Tangible book value per share (non-GAAP)

$ 14.29

$ 13.97

$ 13.79

Shares outstanding

32,110,117

32,152,298

32,418,182

INVESTOR

RELATIONS CONTACT

Tom

Dolan

California

Bank of Commerce, N.A.

IR@bankcbc.com

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Jul. 23, 2026

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El Camino Real

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