California BanCorp \ CA
For the period ended Mar 31, 2026. Filed May 8, 2026.
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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, 2026 · Filed May 8, 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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Consolidated Statements of Cash Flows
For the three months ended March 31, 2026 and 2025
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| OPERATING ACTIVITIES | ||
| Net income | $13,791 | $16,853 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Accretion of net discounts and deferred loan fees | (3,934) | (6,120) |
| Depreciation on premises and equipment | 374 | 546 |
| Intangible asset amortization | 800 | 948 |
| Amortization of discounts on debt securities | (566) | (218) |
| Gain on sale of loans | — | (577) |
| Loans originated for sale | — | (8,955) |
| Proceeds from sales of and principal collected on loans held for sale | — | 9,569 |
| Reversal of provision for credit losses | (381) | (3,776) |
| Deferred income tax expense | 3,759 | 5,566 |
| Stock-based compensation | 1,361 | 1,480 |
| Income from bank owned life insurance | (518) | (463) |
| Valuation allowance on loans held for sale | 266 | — |
| Net change in other items | (6,417) | (7,870) |
| Net cash provided by operating activities | 8,535 | 6,983 |
| INVESTING ACTIVITIES | ||
| Proceeds from bank owned life insurance death benefits | 877 | — |
| Proceeds from maturities and paydowns of debt securities available for sale | 7,085 | 13,878 |
| Purchases of debt securities available for sale | (73,209) | — |
| Purchases of restricted stock | (8) | (17) |
| Net (contributions) distributions of other stock investments | (120) | 258 |
| Net repayment of loans | 57,153 | 87,321 |
| Purchases of premises and equipment | (236) | (105) |
| Net cash (used in) provided by investing activities | (8,458) | 101,335 |
| FINANCING ACTIVITIES | ||
| Net increase in deposits | 22,905 | (56,224) |
| Proceeds from Federal Home Loan Bank advances | 10,000 | — |
| Repayment of Federal Home Loan Bank advances | (10,000) | — |
| Proceeds from exercise of stock options | 228 | 40 |
| Repurchase of shares in settlement of restricted stock units | (1,322) | (1,055) |
| Repurchase of common stock under authorized stock repurchase program | (7,412) | — |
| Common stock dividends | (3,249) | — |
| Net cash provided by (used in) financing activities | 11,150 | (57,239) |
| Net change in cash and cash equivalents | 11,227 | 51,079 |
| Cash and cash equivalents at beginning of period | 399,913 | 388,162 |
| Cash and cash equivalents at end of period | $411,140 | $439,241 |
| 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, 2026 and 2025
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Supplemental Disclosures of Cash Flow Information: | ||
| Interest paid | $11,606 | $16,965 |
| Taxes paid | — | — |
| Lease liability arising from obtaining right-of-use assets | 1,461 | — |
| Loans transferred to other real estate owned | 8,613 | — |
| Goodwill adjustments | $— | $(7) |
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