secwatch.observer — SEC 8-K summary
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Issuer:     California BanCorp \ CA (BCAL)
CIK:        0001795815
Form:       8-K/A
Filed at:   2024-10-08T23:59:59+00:00
Accession:  0001493152-24-040455
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 9.01, 2.01
LLM model:  deepseek-v4-flash:cloud@v2

CBC reports Q2 2024 net loss of $5.86M; provision for credit losses jumps to $13.5M
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- Net loss of $5.86M in Q2 2024 vs net income $5.44M in Q2 2023; six-month loss $2.04M vs income $10.89M.
- Provision for credit losses surged to $13.5M in Q2 2024 from $0.44M a year ago.
- Total loans declined to $1.473B at June 30, 2024 from $1.544B at Dec 31, 2023.
- Subsequent event: CBC sold 27 HTM securities in July 2024, realizing an $11.8M loss.
- Merger with SCB closed July 31, 2024; this amendment provides pre-merger financials.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795815/000149315224040455/0001493152-24-040455-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795815/000149315224040455/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-040455

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