Earnings summaries and quarterly performance for California BanCorp \ CA.
Executive leadership at California BanCorp \ CA.
Steven Shelton
Chief Executive Officer
David Rainer
Executive Chairman
Jean Carandang
Executive Vice President, Chief Financial Officer (Bank)
Joann Yeung
Executive Vice President, Principal Accounting Officer; Chief Accounting Officer (Bank)
Manisha Merchant
Executive Vice President, Chief Legal Officer
Martin Liska
Executive Vice President, Chief Risk Officer (Bank)
Michele Wirfel
Executive Vice President, Chief Operating Officer
Peter Nutz
Executive Vice President, Chief Credit Officer (Bank)
Richard Hernandez
President
Thomas Dolan
Executive Vice President, Chief Financial Officer; Chief Strategy Officer
Board of directors at California BanCorp \ CA.
Research analysts covering California BanCorp \ CA.
Recent press releases and 8-K filings for BCAL.
- Steven Shelton retired as Chief Executive Officer and Director of California BanCorp, effective December 31, 2025.
- David Rainer was appointed as the new Chief Executive Officer, effective December 31, 2025, in addition to his role as Chairman.
- Mr. Shelton will serve as a Strategic Transition Partner from January 1, 2026, to December 31, 2026, receiving a base salary of $16,666.66 per month.
- He will also receive a $996,400 separation payment in a lump sum on or after July 1, 2026, along with COBRA severance benefits, a potential 2025 discretionary bonus, and accelerated vesting of certain stock awards and his SERP.
- California BanCorp reported net income of $15.7 million, or $0.48 per diluted share, for the third quarter of 2025, an increase from $14.1 million, or $0.43 per diluted share, in the second quarter of 2025, and a significant improvement from a net loss of $16.5 million, or $0.59 per diluted share, in the third quarter of 2024.
- The company's Return on Average Assets was 1.54% for Q3 2025, up from 1.45% in the prior quarter, and the efficiency ratio improved to 51.75% from 56.09%. The Net Interest Margin for Q3 2025 was 4.52%, compared with 4.61% in the prior quarter.
- Total assets increased to $4.10 billion at September 30, 2025, from $3.95 billion at June 30, 2025, primarily due to a $147.4 million increase in total deposits to $3.46 billion.
- California BanCorp redeemed $20.0 million in high-cost subordinated notes during the third quarter of 2025 and repurchased 89,500 shares of common stock for $1.4 million under its stock repurchase program.
- Asset quality improved, with the non-performing assets to total assets ratio decreasing to 0.38% at September 30, 2025, from 0.46% at June 30, 2025.
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