California BanCorp (BCAL) reported second-quarter 2026 net income of $14.3 million, or $0.44 per diluted share, compared with $13.8 million, or $0.42 per diluted share, in the first quarter of 2026.
The company said total loans, including loans held for sale, rose to $3.11 billion at June 30, 2026, while nonperforming assets to total assets declined to 0.44% from 0.97% at March 31, 2026. The board approved a quarterly cash dividend increase to $0.12 per common share beginning in the third quarter.
- Net interest margin was 4.71%, compared with 4.47% in the prior quarter.
- Total loans increased by $113.7 million, or 3.8%, from March 31, 2026.
- Nonperforming loans were $8.9 million, down $21.7 million, or 70.9%, from March 31, 2026.
- The company recorded a provision for credit losses of $714 thousand for the quarter.
- California BanCorp repurchased 102,594 shares at an average price of $19.46 for a total cost of $2.0 million.
- The dividend of $0.12 per share is expected to be paid Oct. 15, 2026, to shareholders of record on Sept. 21, 2026.
