secwatch.observer — SEC 8-K summary
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Issuer:     California BanCorp \ CA (BCAL)
CIK:        0001795815
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0001493152-24-004229
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southern California Bancorp reports Q4 net income $4.4M, announces merger with California BanCorp
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- Q4 net income $4.4M ($0.24 diluted EPS) vs $6.6M ($0.35) Q3; full year $25.9M ($1.39), up 61% from 2022.
- Net interest margin 4.05% in Q4 (vs 4.23% Q3); full year 4.33% (vs 4.06% previous year).
- Tangible book value per share $13.56, up from $13.08 Q3; total assets $2.36B.
- Entered into a merger agreement with California BanCorp; further details in a separate release.
- Provision for credit losses $824K in Q4 vs $96K reversal in Q3; $1.3M charge-off on a nonaccrual multifamily loan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795815/000149315224004229/0001493152-24-004229-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795815/000149315224004229/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-004229

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