California BanCorp CA
For the period ended Dec 31, 2024. Filed Apr 1, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Apr 1, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Changes in Shareholders Equity
(dollars in thousands, except share data)
| Common Stock · RetainedEarnings · Accumulated Other Comprehensive Income (Loss) · Total Shareholders’ Equity | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| Balance at December 31, 2022 | 17,940,283 | $218,280 | $48,516 | $(6,441) | $260,355 |
| Adoption of ASU No. 2016-13, net of tax(1) | — | — | (3,851) | — | (3,851) |
| Balance at January 1, 2023 (as adjusted for change in accounting principle) | 17,940,283 | 218,280 | 44,665 | (6,441) | 256,504 |
| Stock-based compensation | — | 4,518 | — | — | 4,518 |
| Stock options exercised | 16,000 | 127 | — | — | 127 |
| Restricted stock units vested | 470,648 | — | — | — | — |
| Repurchase of shares in settlement of restricted stock units | (57,816) | (889) | — | — | (889) |
| Net income | — | — | 25,910 | — | 25,910 |
| Other comprehensive income | — | — | — | 1,982 | 1,982 |
| Balance at December 31, 2023 | 18,369,115 | 222,036 | 70,575 | (4,459) | 288,152 |
| Stock-based compensation | — | 6,244 | — | — | 6,244 |
| Issuance of common stock in business combination(2) | 13,497,091 | 214,380 | — | — | 214,380 |
| Stock options exercised | 112,275 | 950 | — | — | 950 |
| Restricted stock units vested(3) | 430,180 | 825 | — | — | 825 |
| Repurchase of shares in settlement of restricted stock units | (142,726) | (1,966) | — | — | (1,966) |
| Net income | — | — | 5,433 | — | 5,433 |
| Other comprehensive loss | — | — | — | (2,182) | (2,182) |
| Balance at December 31, 2024 | 32,265,935 | $442,469 | $76,008 | $(6,641) | $511,836 |
(1)Related to the adoption of Accounting Standards Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.
(2)Includes $1.3 million related to replacement awards granted in connection with the business combination (Refer to Note 2 - Business Combinations).
(3)Related to the acceleration of 123,123 replacement awards issued in connection with the business combination for non-continuing directors, executives and employees (Refer to Note 2 - Business Combinations).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.