---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-189986"
form_type: "8-K"
ticker: null
cik: "0001752036"
company_name: "California BanCorp"
filed_at: "2024-07-31T23:59:59+00:00"
generated_at: "2026-05-31T14:26:54.512192+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# California BanCorp and Southern California Bancorp close merger of equals; combined entity trades as BCAL

## Summary
- All-stock merger closed July 31, 2024; each CALB share exchanged for 1.59 shares of BCAL.
- Combined company holds ~$4.2B assets, operates as California BanCorp (BCAL) with California Bank of Commerce, N.A. name.
- Board expanded to 12 directors, six from each legacy company; Steven Shelton remains CEO.
- California BanCorp common stock delisted from Nasdaq; BCAL continues trading.
- Full operational integration expected by September 23, 2024; no immediate customer changes.

## SEC filing metadata
- accession: 0001193125-24-189986
- form_type: 8-K
- cik: 0001752036
- company_name: California BanCorp
- filed_at: 2024-07-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 3.01, 3.03, 5.02, 5.03, 5.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/d859733d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-189986
- JSON: https://secwatch.observer/filing/0001193125-24-189986.json
- Plain text: https://secwatch.observer/filing/0001193125-24-189986.txt

## Key facts
- Executive change
  Stephen A. Cortese departed as Director at California BanCorp.
  - Action: ceased serving
  - Role: Director
  source text: each of the Company’s directors and executive officers ceased serving in such capacities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm
- Executive change
  Rochelle E. Klein departed as Director at California BanCorp.
  - Action: ceased serving
  - Role: Director
  source text: each of the Company’s directors and executive officers ceased serving in such capacities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm
- Executive change
  Kevin J. Cullen departed as Director at California BanCorp.
  - Action: ceased serving
  - Role: Director
  source text: each of the Company’s directors and executive officers ceased serving in such capacities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm
- Executive change
  Andrew J. Armanino departed as Director at California BanCorp.
  - Action: ceased serving
  - Role: Director
  source text: each of the Company’s directors and executive officers ceased serving in such capacities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm
- Executive change
  Frank L. Muller departed as Director at California BanCorp.
  - Action: ceased serving
  - Role: Director
  source text: each of the Company’s directors and executive officers ceased serving in such capacities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm
- Executive change
  Steven E. Shelton departed as Director at California BanCorp.
  - Action: ceased serving
  - Role: Director
  source text: each of the Company’s directors and executive officers ceased serving in such capacities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm
- M&A Transactions
  California BanCorp underwent a change of control involving Southern California Bancorp for 1.590 shares of SCB Common Stock per share of Company Common Stock (closed 2024-07-31).
  - Action: change of control
  - Counterparty: Southern California Bancorp
  - Consideration: 1.590 shares of SCB Common Stock per share of Company Common Stock
  - Closing: 2024-07-31
  source text: each share of common stock, no par value, of the Company (“Company Common Stock”) outstanding immediately prior to the Effective Time was converted into the right to receive 1.590 shares (the “Exchange Ratio,” and such shares, the “Merger Consideration”) of common stock, no par value, of SCB (“SCB Common Stock”), with cash (without interest) paid in lieu of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1752036/000119312524189986/0001193125-24-189986-index.htm

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