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$22.06-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Balance Sheets
| September 30,2024 | December 31,2023 | |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $115,165 | $33,008 |
| Federal funds and interest-bearing balances | 499,258 | 53,785 |
| Total cash and cash equivalents | 614,423 | 86,793 |
| Debt securities available-for-sale, at fair value (amortized cost of $163,384 and $136,366 at September 30, 2024 and December 31, 2023) | 159,330 | 130,035 |
| Debt securities held-to-maturity, at amortized cost (fair value of $49,487 and $50,432 at September 30, 2024 and December 31, 2023) | 53,364 | 53,616 |
| Loans held for sale, at lower of cost or fair value | 33,704 | 7,349 |
| Loans held for investment | 3,199,714 | 1,957,442 |
| Allowance for credit losses on loans | (53,552) | (22,569) |
| Loans held for investment, net | 3,146,162 | 1,934,873 |
| Restricted stock, at cost | 27,394 | 16,055 |
| Premises and equipment, net | 13,996 | 13,270 |
| Right-of-use asset | 15,310 | 9,291 |
| Other real estate owned, net | 4,083 | — |
| Goodwill | 112,515 | 37,803 |
| Core deposit intangible, net | 23,031 | 1,195 |
| Bank owned life insurance | 66,180 | 38,918 |
| Deferred taxes, net | 45,644 | 11,137 |
| Accrued interest receivable and other assets | 47,631 | 19,917 |
| Total assets | $4,362,767 | $2,360,252 |
| LIABILITIES | ||
| Noninterest-bearing demand | $1,368,303 | $675,098 |
| Interest-bearing NOW accounts | 781,125 | 381,943 |
| Money market and savings accounts | 1,149,268 | 636,685 |
| Time deposits | 442,219 | 249,830 |
| Total deposits | 3,740,915 | 1,943,556 |
| Borrowings | 69,142 | 102,865 |
| Operating lease liability | 19,211 | 12,117 |
| Accrued interest payable and other liabilities | 35,435 | 13,562 |
| Total liabilities | 3,864,703 | 2,072,100 |
| Commitments and contingencies (Note 12) | ||
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock - 50,000,000 shares authorized, no par value; no shares issued and outstanding at September 30, 2024 and December 31, 2023 | — | — |
| Common stock - 50,000,000 shares authorized, no par value; issued and outstanding 32,142,427 and 18,369,115 at September 30, 2024 and December 31, 2023 | 441,684 | 222,036 |
| Retained earnings | 59,236 | 70,575 |
| Accumulated other comprehensive loss - net of taxes | (2,856) | (4,459) |
| Total shareholders’ equity | 498,064 | 288,152 |
| Total liabilities and shareholders’ equity | $4,362,767 | $2,360,252 |
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