California Bancorp · NASDAQ:BCAL
California Bancorp — California BanCorp \ CA — Q2 2025 Earnings Presentation
33 slides from California Bancorp's earnings presentation, Jul 28, 2025
Slide 1: Investor Presentation June 30, 2025
Investor Presentation June 30, 2025 CALIFORNIA CALIFORNIA BANCORP BANK OF COMMERCE
Slide 2: Forward-Looking Statements
Forward-Looking Statements CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS In addition to historical information, this release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to expectations, belie
Slide 3: Company Overview
Company Overview
Slide 4: Investment Highlights
Investment Highlights Market and Footprint * California is the world's 4'r largest economy and the largest banking market in the U.S.! + Bank's footprint covers the best small to middle-market business banking markets in California (1.4 million small to medium-sized businesses in the counties we ser
Slide 5: California BanCorp At a Glance
California BanCorp At a Glance Branch Footprint BCAL San Diego Nasdaq Headquarters $533M || $4.08 || 20.7% 5-Yr Asset Market Cap! Assets? CAG A Bank Acquisitions? $3.3B |} 23.4% if 5-Yr Deposit Deposits? CAGR® MOE Market data as of July 15, 2025. Over the past 10 years. As of June 30, 2025. 5 Compou
Slide 6: Attractive Market Position
Attractive Market Position California is the Largest Banking Market in the United States $3.9T Ath 39MM 1.7MM California GDP" Largest economy in 2023 Population? ‘Small Businesses? the world behind Germany and ahead f Japan" BCAL's Southern California Footprint $1.6T 16" 23MM 1.1MM Combined GDP! Lar
Slide 7: High Growth Franchise
High Growth Franchise % Since 2019, total assets have grown organically and through strategic M&A by $3.1 billion, or 376%, powered by a dedicated and accomplished team. July 2018 Acquired Americas United Bank ($230MM Assets) $537 $480 2017 2018 July 2024 Closed merger of California BanCorp and Sout
Slide 8: Experienced Leadership Team
Experienced Leadership Team Steven Shelton Chief Executive Officer David |. Rainer Executive Chairman Banking Experience: Banking Experience: > 40 Years > 40 Years Peter Nutz Chief Credit Officer, Bank Banking Experience: > 20 Years Richard Hernandez President Banking Experience: > 25 Years Jean Car
Slide 9: Our Vision for a Premier Banking Franchise
Our Vision for a Premier Banking Franchise all & Q Strong Leadership Experienced teams living and working in their respective California communities, and actively involved in local organizations Reputation and credibility of leadership attracts top talent in the market Bank Advisory Boards composed
Slide 10: Financial Highlights
Financial Highlights
Slide 11: Post 2024 Merger Our TBV and Capital Ratios Have Increased
Post 2024 Merger Our TBV and Capital Ratios Have Increased Q22025 QI 2025 Q42024 Q3 2024 BA [oj (-Ye] (om noreat hy Net Income (Loss) $14.1 $16.9 $168 $165). Dedicated to our Diluted EPS $0.43 $0.52 $0.51 $(0.59) relationship-based Pre-tax, Pre-provision Income (PTPP]' $19.4 $19.9 $19.4 $0.4 commerc
Slide 12: Balance Sheet
Balance Sheet in 000s) Assets Cash and Cash Equivalents Debt Securities Loans Held for Sale Loans Held for Investment Allowance for Loan Losses Net Loans Goodwill and Other Intangibles Other Assets Total Assets Liabilities Total Deposits Subordinated Debentures Other Liabilities Total Liabilities Sh
Slide 13: 2Q25, 1Q25 and 2Q24 Income Statements
2Q25, 1Q25 and 2Q?24 Income Statements For the Income Statement (s in 000s) three months ended June 30, 2025 March 31, 2025 June 30, 2024 Interest Income Loans $ 49,080 $ 50,686 $ 29,057 Securities 1,751 1,524 123% Other interest income 4,955, 4615 1,563 Total Interest Income 55,786 56,825 31,859 In
Slide 14: Net Interest Margin
Net Interest Margin Yield on Earning Assets (for three months enc d June 30, 2025) Income Total loans $2,992,299 $49,080 6.58% Taxable debt securities 164,558 1,751 4.27% Tax-exempt debt securities! 53,438 304 = 2.89% Deposits in other financial institutions 295,602 3,270 4.44% Fed fund sold/resale
Slide 15: Low-Cost Core Deposits
Low-Cost Core Deposits Deposit Mix Cost of Deposits for at quarter ended the quarter ended 100% Brokered 2.50% Deposits 90% now 0% 2.00% 20% 1.50% 1.00% 70% 0.50% 60% 0.00% 50% 2024 3Q24 4Q24 1Q25 2Q25 40% Total Deposits at quarter ended ($MM) 30% $4,000 "] $3,74 $3,500 $3,399 $3,343 $3,312 _ $3,000
Slide 16: Significant Access to Liquidity & Funding Capacity
Significant Access to Liquidity & Funding Capacity As of 6/30/2025 ($ in millions) Cash $ 430.1 $ - $ 430.1 AFS Securities 188.2 18.3 169.9 FHLB 727.6 45.0 682.6 Fed DW 320.4 - 320.4 Correspondent Banks 90.5 - 90.5 Total $ 1,756.8 — §$ 63.3 $ 1,693.5 $169.9 $430.1 AFS Securities Cash $682.6 FHLB $32
Slide 17: Loan Portfolio
Loan Portfolio $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 7.50% 7.00% 6.50% 6.00% 5.50% 5.00% 4.50% Total Loans ! ($MM), at the quarter ended 2924 3Q24 4Q24 1925 2925 Yield on Loans, for the quarter ended 6.84% 6.61% 6.58% 2024 3Q24 4024 1025 2Q25 Contractual Maturity Summary for the next 3 years as
Slide 18: Loan Portfolio Composition and CRE Geography
Sponsor Finance Other?0.8% 1.4% 1-4 SER 5.2% Construction & Lan 6.2% Total Loans! CRE * ene CRE - Office $3.00 billion 59.3% 90.1% CRE - Others 6.9% CRE - Hotel, 4.5% CRE - Special Purpose 4.0% CRE - Medical/Dental Office 3.7% “CRE = Restaurant 1.4% Total loans includes loans held for sale and loans
Slide 19: Low LTV Commercial Real Estate Loans
Low LTV Commercial Real Estate Loans Total CRE! Distribution by LTV2, as of June 30, 2025 CRE NOO vs CRE OO by Property Type, as of June 30, 2025 >65% to 70% “a 100% + 7 5% P6010 65% \\ 90% + < 50% % a CRE 10.5% 58% 80% + , >55% 10.60% / 14% 70% + 3.9% >50% to 55% 1% 60% + No. of Loans _Balance?3 Av
Slide 20: CRE Office Distribution by LTV and Location
CRE Office Distribution by LTV!, as of CRE Office and Medical/Dental Office by Location 3, as of June 30, 2025 June 30, 2025 California - Santa Out of State Barbara 2.7% California - Los Angeles <$0.5 44 $10.8 $0.2 41% 8.7% 2% >$0.5 - $2 60 $53.6 $0.9 45% >$2-$5 19 $57.0 $3.0 52% California - >$5-$1
Slide 21: Multifamily Loans
Multifamily Loans Out of State, _ . 8. 8.6% Average Weighted California - Bay Area, = Loans Balance? Loan Size __ Avg. LTV! EGifomia -Sa <$0.5 22 $6.7 $0.3 33% 12.4 >$0.5 - $2 35 $42.7 $1.2 46% >$2-$5 27 $81.4 $3.0 56% >$5 - $10 10 $72.0 $7.2 59% >$10 - $20 4 $55.7 $13.9 61% California -_ Multifamil
Slide 22: Loans Held for Investment by Risk Category
Loans Held for Investment by Risk Category (Sin Thousands, Construction and Land Development Real Estate - Other: 1-4 Family Residential Multifamily Residential Commercial Real Estate and Other Commercial and Industrial Sponsor Finance Consumer Total loans held for investment (Sin Thousands, Constru
Slide 23: Credit Profile
Credit Profile NPAs / Assets ($000) 3024 1025 2025] 0.80% — 0.76% Nonaccrual Loans 0.68% < 0.68% 1-4 Family S$ - $2,895 $2,895 $ -$ - 0.60% CRE & Multifamily 4,696 9,432 8,915 1,763 1,705 0.46% Construction - 9,105 9,659 «14,659 14,659 0.40% : Consumer - - : = : Commercial - 4,002 4,917___—«6,358__1
Slide 24: Allowance for Credit Losses — Loans
Allowance for Credit Losses — Loans as of and for the Three Months Ended June 30, 2025 $663 th d reversal of pi $1,273K $45,839K $4,065K March 31, 2025 g g e s ro rs) ($3,685K) "(5961k) 42m ($4,065K) ($1,462k) ($659k) 40m 38M > During the second quarter of 2025, the reversal of provision for credit
Slide 25: Noninterest Expense and Total Revenue
Noninterest Expense and Total Revenue Noninterest Expense ($MM) for the quarter ended: Total Revenue? ($MM) for the quarter ended: 98.9% 100.0% 50 $45.5 90.0% s $44.8 $44.3 80.0% 40 $38.1 “/-- 56.0% 55.6% 56.1% 70.0% 35 $0.5 60.0% 30 5% eo 25 $22.2 40.0% 20 $18.5 30.0% 15 20.0% 10 10.0% 5 2024 3024
Slide 26: Income Metrics
Income Metrics Net Income (Loss)> ($MM) Tangible Book Value Per Share (TBVPS)'2 s200 1.60% 1.71% 45% 200% 18.04% 17.75% 13.94% 30.00% $0 2 et 1.50% 20.00% $10.0 aoe $10.00 10.00% $0.0 Oe 0.00% -$10.0 -1.00% $5.00 -10.00% $200 “1.82% “Soon 20.00% 2024 3Q24 4Q24 1025 2Q25 $0.00 aaaial 2024 3024 4024 1
Slide 27: Tangible Common Equity Ratio and Tier 1 Ratio
Tangible Common Equity Ratio! Tier 1 Ratio? 13.3% 13.3% 13.2% ILS a 10.9% 9.7% ~ 8.6% 12.4% | i a 2Q24 3Q24 4Q24 1Q25 2Q25 2024 3Q24 4Q24 1025 2025 14.3% 14.4% 4. 14.56 12.2% 12.4% 12.2% 12.1% 11.1% 13.5% 7 | 2024 3024 4024 1025 2025 2024 3024 4024 1025 2025 1. Non-GAAP financial measure; a AAP nt i
Slide 28: Appendix
Appendix
Slide 29: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-tax, pre-provision income and adjusted pre-tax, pre-provision income are non-U.S. GAAP financial measures derived from U.S. GAAP-based amounts. We calculate pre-tax, pre-provision income by excluding income tax and provision for credit losses from net income. We calculate
Slide 30: Non-GAAP Reconciliation
Non-GAAP Reconciliation Efficiency ratio and adjusted efficiency ratio are non-U.S. GAAP financial measures derived from U.S. GAAP-based amounts. The efficiency ratio represents the ratio of noninterest expense to the sum of net interest income and total noninterest income. The adjusted efficiency r
Slide 31: Non-GAAP Reconciliation
Non-GAAP Reconciliation Tangible common equity to tangible assets (the "tangible common equity ratio") and tangible book value per share are non-U.S. GAAP financial measures derived from U.S. GAAP-based amounts. We calculate the tangible common equity ratio by excluding the balance of intangible ass
Slide 32: Non-GAAP Reconciliation
Non-GAAP Reconciliation The following table presents a reconciliation of non-GAAP financial measures to GAAP measures for: (1) adjusted net income, (2) average tangible common equity, (3) adjusted return on average assets, (4) adjusted return on average equity, (5) return on average tangible common
Slide 33: California BanCorp / California Bank of Commerce
CALIFORNIA BANCORP CALIFORNIA BANK OF COMMERCE 33
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