California BanCorp \ CA — Form 8-K
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 28/100
What the filing says
California BanCorp reported Q3 2026 net income of $14.0M ($0.43/share), down from $14.3M ($0.44/share) in Q2 2026 and $15.7M ($0.48/share) in Q3 2025. Total loans grew $53.3M to $3.16B (1.7% quarterly); deposits grew $117.4M to $3.48B (3.5% quarterly). Provision for credit losses jumped to $3.2M from $0.714M prior quarter, driven by $4.6M in charge-offs on two commercial/industrial loans. Net interest margin compressed 10 bps to 4.61%. The company redeemed $35M subordinated debt at par and repurchased 209,348 shares for $4.6M at average $21.81/share. Capital ratios remain well-capitalized.
Why this rating
Modest earnings decline with routine Q3 operations. Credit loss provision increase and margin compression are concerning but offset by steady deposit/loan growth. Event scale ≈6-7% of market cap; ordinary quarterly results.
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