California BanCorp \ CA
For the period ended Dec 31, 2025. Filed Mar 13, 2026.
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FY2025 · Filed Mar 13, 2026
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 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| OPERATING ACTIVITIES | ||
| Net income | $63,058 | $5,433 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation on premises and equipment | 1,824 | 1,759 |
| Core deposit intangible amortization | 3,791 | 1,877 |
| Accretion of net discounts and deferred loan fees | (21,273) | (12,313) |
| Amortization of discounts of debt securities | (1,450) | (939) |
| (Gain) loss on sale of loans | (577) | 680 |
| Loss on sale and disposal of fixed assets | 1 | 19 |
| Loans originated for sale | (8,955) | (6,324) |
| Proceeds from sales of and principal collected on loans held for sale | 9,569 | 6,778 |
| (Reversal of) provision for credit losses | (8,823) | 21,690 |
| Deferred income tax expense (benefit) | 11,482 | (426) |
| Impairment charges of right-of-use assets | — | 78 |
| Stock-based compensation | 5,822 | 6,244 |
| Income from bank owned life insurance | (2,336) | (1,748) |
| Loss on sale of other real estate owned | 862 | 4,783 |
| Valuation allowance on other real estate owned | — | 614 |
| Net decrease in other items | 4,295 | 22,087 |
| Net cash provided by operating activities | 57,290 | 50,292 |
| INVESTING ACTIVITIES | ||
| Net cash acquired in business combination | — | 336,298 |
| Proceeds from bank owned life insurance death benefits | 1,572 | — |
| Proceeds from sale of debt securities available for sale | — | 3,400 |
| Proceeds from maturities and paydowns of debt securities available for sale | 38,396 | 27,528 |
| Purchases of debt securities available for sale | (122,364) | (2,041) |
| Purchases of debt securities held to maturity | — | — |
| Purchases of restricted stock | (103) | (8,914) |
| Net (contributions) distributions of stock investments | (680) | 2,217 |
| Net repayment of loans | 98,357 | 81,549 |
| Proceeds from sale of loans held for investment | 13,500 | 76,843 |
| Proceeds from sale of other real estate owned | 1,421 | 8,327 |
| Purchases of premises and equipment | (346) | (552) |
| Net cash provided by investing activities | 29,753 | 524,655 |
| The accompanying notes are an integral part of these consolidated financial statements. | ||
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| FINANCING ACTIVITIES | ||
| Net decrease in deposits | (28,142) | (187,562) |
| Repayment of Federal Home Loan Bank advances | — | (85,000) |
| Repayment of other borrowings | (38,000) | — |
| Proceeds from exercise of stock options | 132 | 950 |
| Repurchase of shares in settlement of restricted stock units | (2,663) | (1,966) |
| Repurchase of common stock under authorized stock repurchase program | (3,366) | — |
| Common stock dividends | (3,253) | — |
| Net cash used in financing activities | (75,292) | (273,578) |
| Net change in cash and cash equivalents | 11,751 | 301,369 |
| Cash and cash equivalents at beginning of year | 388,162 | 86,793 |
| Cash and cash equivalents at end of year | $399,913 | $388,162 |
| Supplemental Disclosures of Cash Flow Information: | ||
| Interest paid | $58,481 | $52,093 |
| Taxes paid (Note 11) | 9,779 | 2,886 |
| Lease liability arising from obtaining right-of-use assets | 4,796 | 105 |
| Loans transferred from loans held for investment to loans held for sale | 17,300 | 25,900 |
| Loans transferred from loans held for investment to other real estate owned | — | 17,701 |
| Loan to facilitate sale of other real estate owned | 1,800 | — |
| Liabilities assumed in business combination (Note 2): | ||
| Fair value of net assets acquired | $— | $1,938,700 |
| Fair value of stock and equity award consideration | — | 215,205 |
| Cash consideration | — | (1,433) |
| Liabilities assumed | $— | $1,722,062 |
| Goodwill measurement period adjustments | $(853) | $(728) |
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