California BanCorp resolves two nonaccrual loans after cash sale of LA-area event venue

California BanCorp \ CA

Two nonaccrual loans secured by a 123-acre property (event venue) in Los Angeles area fully repaid after cash sale.
Cash sale of the property completed May 4, 2026; buyer was disclosed as engaged in April 28 earnings release.
No dollar amounts disclosed for loan balances or sale price, so materiality cannot be precisely sized.
Resolution removes credit risk from two previously nonperforming assets, a positive for asset quality.

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