California BanCorp CA
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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.
Mar 31, 2025 · Filed May 9, 2025
BCAL$22.06-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
For the three months ended March 31, 2025 and 2024
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| OPERATING ACTIVITIES | ||
| Net income | $16,853 | $4,935 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation on premises and equipment | 546 | 370 |
| Intangible asset amortization | 948 | 65 |
| Amortization of (discounts) premiums of debt securities | (218) | (127) |
| Gain on sale of loans | (577) | (415) |
| Loss on sale and disposal of fixed assets | 1 | — |
| Loans originated for sale | (8,955) | (1,777) |
| Proceeds from sales of and principal collected on loans held for sale | 9,569 | 6,778 |
| Reversal of credit losses | (3,776) | (331) |
| Deferred income tax expense | 5,566 | 1,638 |
| Stock-based compensation | 1,480 | 895 |
| Increase in cash surrender value of bank owned life insurance | (231) | (261) |
| Accretion of net discounts and deferred loan fees | (6,120) | (603) |
| Net decrease in other items | (8,103) | (3,114) |
| Net cash provided by operating activities | 6,983 | 8,053 |
| INVESTING ACTIVITIES | ||
| Proceeds from maturities and paydowns of debt securities available for sale | 13,878 | 2,941 |
| Purchases of debt securities available for sale | — | (2,041) |
| Net change in stock investments | 241 | 96 |
| Net repayment (funding) of loans | 87,321 | 61,609 |
| Purchases of premises and equipment | (105) | (89) |
| Net cash provided by investing activities | 101,335 | 62,516 |
| FINANCING ACTIVITIES | ||
| Net decrease in deposits | (56,224) | (13,017) |
| Repayment of Federal Home Loan Bank advances | — | (58,000) |
| Proceeds from exercise of stock options | 40 | 706 |
| Repurchase of common shares | (1,055) | (509) |
| Net cash used in financing activities | (57,239) | (70,820) |
| The accompanying notes are an integral part of these consolidated financial statements. | ||
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
For the three months ended March 31, 2025 and 2024
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Net change in cash and cash equivalents | 51,079 | (251) |
| Cash and cash equivalents at beginning of period | 388,162 | 86,793 |
| Cash and cash equivalents at end of period | $439,241 | $86,542 |
| Supplemental Disclosures of Cash Flow Information: | ||
| Interest paid | $16,965 | $9,593 |
| Taxes paid | — | — |
| Lease liability arising from obtaining right-of-use assets | — | — |
| Loans transferred to loans held for sale | — | — |
| Loans transferred to other real estate owned | — | 13,004 |
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