secwatch.observer — SEC 8-K summary
======================================

Issuer:     California BanCorp \ CA (BCAL)
CIK:        0001795815
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001493152-23-025443
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southern California Bancorp Q2 net income $6.7M, EPS $0.36, down from Q1; NIM 4.36%
--------------------------------------------------------------------------------

- Net income of $6.7M ($0.36 diluted EPS) vs. $8.2M ($0.44) in Q1 2023 and net loss of $736K in Q2 2022.
- Net interest margin narrowed to 4.36% from 4.71% as deposit costs rose 49 bps to 1.29%.
- Total loans grew $19.9M to $1.91B; nonperforming assets negligible at 0.002% of assets.
- Noninterest-bearing deposits fell to 39.2% of total deposits vs. 44.4% in Q1; cost of funds up 50 bps to 1.38%.
- Tangible book value per share increased 2.6% to $12.82 from $12.49 in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795815/000149315223025443/0001493152-23-025443-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795815/000149315223025443/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-025443

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer