California BanCorp CA
For the period ended Dec 31, 2024. Filed Apr 1, 2025.
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FY2024 · Filed Apr 1, 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 Income
(dollars in thousands, except per share data)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| INTEREST AND DIVIDEND INCOME | ||
| Interest and fees on loans | $159,960 | $113,951 |
| Interest on debt securities | 5,827 | 3,497 |
| Interest on tax-exempted debt securities | 1,223 | 1,655 |
| Interest on deposits at other financial institutions | 11,011 | 3,357 |
| Interest and dividends on other interest-earning assets | 1,777 | 1,062 |
| Total interest and dividend income | 179,798 | 123,522 |
| INTEREST EXPENSE | ||
| Interest on NOW, money market and savings accounts | 37,329 | 20,161 |
| Interest on time deposits | 15,432 | 6,704 |
| Interest on borrowings | 4,053 | 2,519 |
| Total interest expense | 56,814 | 29,384 |
| Net interest income | 122,984 | 94,138 |
| Provision for credit losses | 21,690 | 915 |
| Net interest income after provision for credit losses | 101,294 | 93,223 |
| NONINTEREST INCOME | ||
| Service charges and fees on deposit accounts | 2,106 | 1,202 |
| Interchange and ATM income | 1,034 | 744 |
| (Loss) gain on sale of loans | (672) | 831 |
| Income from bank owned life insurance | 1,748 | 946 |
| Servicing and related income on loans, net | 307 | 240 |
| Loss on sale of available-for-sale debt securities | — | (974) |
| Loss on sale and disposal of fixed assets | (19) | — |
| Other charges and fees | 256 | 390 |
| Total noninterest income | 4,760 | 3,379 |
| NONINTEREST EXPENSE | ||
| Salaries and employee benefits | 49,845 | 39,249 |
| Occupancy and equipment | 7,242 | 6,231 |
| Data processing and communications | 5,832 | 4,534 |
| Legal, audit and professional | 2,559 | 3,211 |
| Regulatory assessments | 1,714 | 1,508 |
| Director and shareholder expenses | 1,410 | 849 |
| Merger and related expenses | 16,288 | — |
| Intangible asset amortization | 1,877 | 389 |
| Other real estate owned expenses | 5,246 | — |
| Other expenses | 5,778 | 3,775 |
| Total noninterest expense | 97,791 | 59,746 |
| Income before income taxes | 8,263 | 36,856 |
| Income tax expense | 2,830 | 10,946 |
| Net income | $5,433 | $25,910 |
| Earnings per share: | ||
| Basic | $0.22 | $1.42 |
| Diluted | $0.22 | $1.39 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.