secwatch.observer — SEC 8-K summary
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Issuer:     California BanCorp \ CA (BCAL)
CIK:        0001795815
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001493152-24-016848
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southern California Bancorp Q1 net income $4.9M, EPS $0.26; NIM narrows to 3.80%; NPA ratio rises
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- Net income $4.9M ($0.26 diluted) vs $4.4M ($0.24) Q4 2023 and $8.2M ($0.44) Q1 2023.
- Net interest margin 3.80% down from 4.05%; cost of deposits up to 2.05% from 1.81%.
- Loans held for investment fell $74.2M; total assets $2.29B down 3.0%.
- Nonperforming assets to total assets 0.84% vs 0.55% prior quarter; OREO added $13.1M multifamily.
- Merger with California BanCorp expected to close later 2024; $547k after-tax merger expenses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795815/000149315224016848/0001493152-24-016848-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795815/000149315224016848/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-016848

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