California BanCorp CA
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Changes in Shareholders' Equity
| Common Stock · RetainedEarnings · Accumulated Other Comprehensive Loss · Total Shareholders’ Equity | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| Three months ended September 30, 2024: | |||||
| Balance at June 30, 2024 | 18,547,352 | $224,006 | $75,700 | $(6,487) | $293,219 |
| Stock-based compensation | — | 2,804 | — | — | 2,804 |
| Issuance of common stock in business combination1 | 13,497,091 | 214,380 | — | — | 214,380 |
| Restricted stock units vested2 | 141,263 | 825 | — | — | 825 |
| Repurchase of shares in settlement of restricted stock units | (44,779) | (341) | — | — | (341) |
| Net loss | — | — | (16,464) | — | (16,464) |
| Other comprehensive income | — | — | — | 3,631 | 3,631 |
| Balance at September 30, 2024 | 32,142,427 | $441,684 | $59,236 | $(2,856) | $498,064 |
| Nine months ended September 30, 2024: | |||||
| Balance at December 31, 2023 | 18,369,115 | $222,036 | $70,575 | $(4,459) | $288,152 |
| Stock-based compensation | — | 4,695 | — | — | 4,695 |
| Issuance of common stock in business combination1 | 13,497,091 | 214,380 | — | — | 214,380 |
| Stock options exercised | 82,900 | 716 | — | — | 716 |
| Restricted stock units vested2 | 280,051 | 825 | — | — | 825 |
| Repurchase of shares in settlement of restricted stock units | (86,730) | (968) | — | — | (968) |
| Net loss | — | — | (11,339) | — | (11,339) |
| Other comprehensive income | — | — | — | 1,603 | 1,603 |
| Balance at September 30, 2024 | 32,142,427 | $441,684 | $59,236 | $(2,856) | $498,064 |
1 Includes $1.3 million related to replacement awards granted in connection with the business combination for the three and nine months ended September 30, 2024 (Refer to Note 2 - Business Combinations).
2 The three and nine months ended September 30, 2024 include $825 thousand 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).
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
| Common Stock · RetainedEarnings · Accumulated Other Comprehensive Loss · Total Shareholders’ Equity | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| Three months ended September 30, 2023: | |||||
| Balance at June 30, 2023 | 18,296,365 | $220,702 | $59,607 | $(6,560) | $273,749 |
| Stock-based compensation | — | 992 | — | — | 992 |
| Restricted stock units vested | 17,148 | — | — | — | — |
| Repurchase of shares in settlement of restricted stock units | (4,231) | (62) | — | — | (62) |
| Net income | — | — | 6,556 | — | 6,556 |
| Other comprehensive loss | — | — | — | (2,685) | (2,685) |
| Balance at September 30, 2023 | 18,309,282 | $221,632 | $66,163 | $(9,245) | $278,550 |
| Nine months ended September 30, 2023: | |||||
| 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 | — | — | (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 | — | 3,763 | — | — | 3,763 |
| Stock options exercised | 10,950 | 93 | — | — | 93 |
| Restricted stock units vested | 390,320 | — | — | — | — |
| Repurchase of shares in settlement of restricted stock units | (32,271) | (504) | — | — | (504) |
| Net income | — | — | 21,498 | — | 21,498 |
| Other comprehensive loss | — | — | — | (2,804) | (2,804) |
| Balance at September 30, 2023 | 18,309,282 | $221,632 | $66,163 | $(9,245) | $278,550 |
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