Quarterly ResultJul 27, 2026, 08:16 AM
California BanCorp Q2 Net Income $14.3M; Raises Dividend to $0.12
AI Summary
California BanCorp reported strong second-quarter 2026 earnings with net income of $14.3 million, or $0.44 per diluted share. The company achieved significant loan growth of $113.7 million and improved credit quality, with nonperforming assets to total assets decreasing to 0.44%. Reflecting this performance, the Board of Directors approved an increase in the quarterly cash dividend to $0.12 per share. The company also furnished an investor presentation for upcoming meetings.
Key Highlights
- Net income of $14.3 million, or $0.44 diluted EPS for Q2 2026.
- Total loans increased by $113.7 million, or 3.8%, to $3.11 billion.
- Nonperforming assets to total assets decreased to 0.44% from 0.97%.
- Quarterly cash dividend increased by $0.02 to $0.12 per share.
- Net interest margin expanded to 4.71% from 4.47% in prior quarter.
- Tangible book value per common share rose to $14.29 from $13.97.
- Repurchased 102,594 shares for $2.0 million under stock repurchase program.
Price Impact
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