California BanCorp CA
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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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
BCAL$22.08+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(dollars in thousands, except per share data)
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 30,2024 | September 30,2023 | September 30,2024 | September 30,2023 | |
| INTEREST AND DIVIDEND INCOME | ||||
| Interest and fees on loans | $47,528 | $28,977 | $105,169 | $83,983 |
| Interest on debt securities | 1,687 | 942 | 4,129 | 2,506 |
| Interest on tax-exempted debt securities | 306 | 359 | 918 | 1,302 |
| Interest on deposits at other financial institutions | 4,101 | 964 | 5,850 | 2,473 |
| Interest and dividends on other interest-earning assets | 505 | 242 | 1,174 | 689 |
| Total interest and dividend income | 54,127 | 31,484 | 117,240 | 90,953 |
| INTEREST EXPENSE | ||||
| Interest on NOW, money market and savings accounts | 11,073 | 5,922 | 24,882 | 13,555 |
| Interest on time deposits | 5,087 | 1,867 | 11,253 | 4,373 |
| Interest on borrowings | 1,025 | 434 | 2,662 | 1,446 |
| Total interest expense | 17,185 | 8,223 | 38,797 | 19,374 |
| Net interest income | 36,942 | 23,261 | 78,443 | 71,579 |
| Provision for (reversal of) credit losses | 22,963 | (96) | 25,525 | 91 |
| Net interest income after provision for (reversal of) credit losses | 13,979 | 23,357 | 52,918 | 71,488 |
| NONINTEREST INCOME | ||||
| Service charges and fees on deposit accounts | 842 | 286 | 1,582 | 881 |
| Interchange and ATM income | 294 | 184 | 647 | 558 |
| Gain (loss) on sale of loans | 8 | (54) | 423 | 831 |
| Income from bank owned life insurance | 398 | 238 | 925 | 693 |
| Servicing and related income on loans, net | 82 | 61 | 150 | 223 |
| Gain on sale of available-for-sale debt securities | — | — | — | 34 |
| Loss on sale and disposal of fixed assets | — | — | (19) | — |
| Other charges and fees | (450) | 100 | 48 | 261 |
| Total noninterest income | 1,174 | 815 | 3,756 | 3,481 |
| NONINTEREST EXPENSE | ||||
| Salaries and employee benefits | 15,385 | 9,736 | 33,771 | 29,651 |
| Occupancy and equipment | 2,031 | 1,579 | 4,928 | 4,553 |
| Data processing and communications | 1,536 | 1,144 | 3,872 | 3,376 |
| Legal, audit and professional | 669 | 598 | 1,742 | 2,050 |
| Regulatory assessments | 544 | 369 | 1,278 | 1,188 |
| Director and shareholder expenses | 520 | 215 | 952 | 642 |
| Merger and related expenses | 14,605 | — | 15,645 | — |
| Core deposit intangible amortization | 687 | 128 | 817 | 309 |
| Other real estate owned expenses | 3 | — | 5,026 | — |
| Other expenses | 1,700 | 1,012 | 3,635 | 2,638 |
| Total noninterest expense | 37,680 | 14,781 | 71,666 | 44,407 |
| (Loss) income before income taxes | (22,527) | 9,391 | (14,992) | 30,562 |
| Income tax (benefit) expense | (6,063) | 2,835 | (3,653) | 9,064 |
| Net (loss) income | (16,464) | 6,556 | (11,339) | 21,498 |
| (Loss) earnings per share: | ||||
| Basic | $(0.59) | $0.36 | $(0.53) | $1.18 |
| Diluted | $(0.59) | $0.35 | $(0.53) | $1.15 |
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