---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-120065"
form_type: "8-K"
ticker: null
cik: "0001752036"
company_name: "California BanCorp"
filed_at: "2024-04-29T23:59:59+00:00"
generated_at: "2026-06-03T05:40:05.074365+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# California BanCorp Q1 net income $3.8M, down 30% YoY; merger on track for Q3 2024

## Summary
- Net income $3.8M ($0.45 diluted EPS) vs $5.4M ($0.64) in Q1 2023; adjusted EPS $0.57 excluding merger expenses.
- Net interest income $17.7M, NIM 3.89%; total revenue $19.4M, down 2% QoQ.
- Total assets $1.92B, loans $1.52B, deposits $1.64B; paid off all FHLB borrowings.
- Non-performing assets ratio improved to 0.08% from 0.19% at year-end; loan loss allowance 1.05%.
- Merger with Southern California Bancorp expected to close Q3 2024; integration planning underway.

## SEC filing metadata
- accession: 0001193125-24-120065
- form_type: 8-K
- cik: 0001752036
- company_name: California BanCorp
- filed_at: 2024-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1752036/000119312524120065/0001193125-24-120065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1752036/000119312524120065/d826807d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-120065
- JSON: https://secwatch.observer/filing/0001193125-24-120065.json
- Plain text: https://secwatch.observer/filing/0001193125-24-120065.txt

## Key facts
- Earnings Releases
  California BanCorp reported financial results for first quarter ended March 31, 2024.
  - Period: first quarter ended March 31, 2024
  - Result: reported results
  source text: On April 29, 2024, California BanCorp (the “Company”) issued a press release setting forth its unaudited financial results for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524120065/0001193125-24-120065-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.