California Bancorp · NASDAQ:BCAL
California Bancorp — 28th Annual D.A. Davidson Financial Institutions Conference (May 2026)
33 slides from California Bancorp's conference presentation, May 5, 2026
Slide 1: Investor Presentation
Investor Presentation March 31, 2026
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 3
Slide 4: Investment Highlights
Investment Highlights Market and Footprint • California is the world’s 5th largest economy and the largest banking market in the U.S.1 • 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 $596M $4.0B 21.1% 5-Yr Asset Market Cap1 Assets3 CAGR4 4 Bank Acquisitions2 $3.4B 23.1% 5-Yr Deposit 1 Deposits3 CAGR4 MOE 1. Market data as of January 23, 2026. 2. Over the past 10 years. 3. As of March 31, 2026. 4.
Slide 6: Attractive Market Position
Attractive Market Position California is the Largest Banking Market in the United States Banks in California (4) $4.2T 5th 40MM 1.7MM 351 272 California GDP1 Largest economy in the 2023 Population2 Small Businesses3 world behind Japan and ahead of India1 124 BCAL’s Southern California Footprint $1.6
Slide 7: High Growth Franchise
High Growth Franchise July 2024 Closed merger of California BanCorp and Southern California Bancorp ($1.86B Assets) Since 2019, total assets have grown October 2021 Acquired Bank of organically and through strategic Santa Clarita M&A by $3.2 billion, or 388%, powered by ($425MM Assets) a dedicated a
Slide 8: Experienced Leadership Team
Experienced Leadership Team David I. Rainer Richard Hernandez Thomas Dolan Michele Wirfel President Chief Financial Officer, Company Chief Operating Officer Chairman and Chief Executive Officer Banking Experience: Banking Experience: Banking Experience: Banking Experience: > 25 Years > 40 Years > 40
Slide 9: Our Vision for a Premier Banking Franchise
Our Vision for a Premier Banking Franchise Strong Leadership Growth Strategy • Experienced teams living and working in their • Provide expertise in commercial and industrial, respective California communities, and actively and commercial real estate lending to small and involved in local organizatio
Slide 10: Financial Highlights
Financial Highlights 10
Slide 11: Financial Highlights
Financial Highlights Financial Highlights Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 ($ in millions except per share data) Net Income $13.8 $16.4 $15.7 $14.1 $16.9 Strategic Focus Diluted EPS $0.42 $0.50 $0.48 $0.43 $0.52 • Dedicated to our relationship- Pre-tax, Pre-provision Income (PTPP) 1 $18.7 $18
Slide 12: Balance Sheet
Balance Sheet March 31, December 31, September 30, June 30, March 31, ($ in 000s) 2026 2025 2025 2025 2025 Assets Cash and Cash Equivalents $ 411,140 $ 399,913 $ 559,216 $ 430,137 $ 439,241 Debt Securities 351,466 287,826 262,424 241,275 184,787 Loans Held for Sale 24,096 25,105 6,685 6,088 4,625 Lo
Slide 13: 1Q26, 4Q25 and 1Q25 Income Statements
1Q26, 4Q25 and 1Q25 Income Statements Income Statement ($ in 000s) Three Months Ended March 31, 2026 December 31, 2025 March 31, 2025 Interest Income Loans $ 45,628 $ 47,426 $ 50,686 Securities 3,076 2,701 1,829 Interest and dividends from other institutions 5,081 6,054 4,310 Total Interest Income 5
Slide 14: Net Interest Margin
Net Interest Margin Yield on Earning Assets Cost of Funds (for three months ended March 31, 2026) (for three months ended March 31, 2026) Assets Liabilities and Shareholders' Equity ($ in thousands) Avg. Balance Income Yield ($ in thousands) Avg. Balance Expense Cost Total loans $ 3,013,389 $ 45,628
Slide 15: Low-Cost Core Deposits
Low-Cost Core Deposits Deposit Mix and Growth Cost of Deposits for the at quarter ended: quarter ended 1% 100% 3% 3% 2% 2% 2.00% 2% 2% 1% 2% 2% 1.59% 1.59% 1.59% 90% 1.43% 20% 1.50% 1.29% 18% 20% 21% 22% 80% 1.00% 4% 4% 4% 4% 4% 70% 0.50% 60% 34% 36% —% 34% 35% 36% 50% 1Q25 2Q25 3Q25 4Q25 1Q26 40% T
Slide 16: Significant Access to Liquidity & Funding Capacity
Significant Access to Liquidity & Funding Capacity Total Available Access to ample on-Balance Sheet (BS) and off-BS Source Funding Capacity In-Use Liquidity liquidity (as of 3/31/2026) As of 3/31/26 ($ in millions) Cash $ 411.1 $ — $ 411.1 • On-BS Cash = $411.1 million AFS Securities 298.6 100.8 197
Slide 17: Loan Portfolio
Loan Portfolio Total Loans 1 ($MM), Contractual Maturity Summary for the next 3 years as of March 31, 2026 at the quarter ended ($ in millions) < 1 year 1-2 Years > 2-3 Years $4,000 % of total % of total % of total $ Loans $ Loans $ Loans $3,073 $2,998 $2,997 $3,059 $2,997 Construction & land develo
Slide 18: Diverse Loan Portfolio
Diverse Loan Portfolio Total CRE 3 by Location4, as of March 31, 2026 Out of State - 10% California - Bay Area - 23% Total Loan Portfolio1, as of March 31, 2026 4 Others - 7% San Bernardino - 3% Commercially Focused | Relationship Based Total CRE Loans Sacramento - 6% $1.85 billion Multifamily 9.1%
Slide 19: Low LTV Commercial Real Estate Loans
Low LTV Commercial Real Estate Loans Total CRE1 Distribution by LTV2, as of March 31, 2026 CRE NOO vs CRE OO by Property Type, as of March 31, 2026 >70% CRE NOO 6% >65% to 70% CRE - Restaurant, 2.4% CRE - Retail, 19.4% 8% CRE - Medical/Dental Office, 3.2% >60% to 65% CRE - Special Purpose, 3.9% 10%
Slide 20: CRE Office and Medical/Dental Office Loans
CRE Office and Medical/Dental Office Loans CRE Office and Medical/Dental Office by Location 3 CRE Office Distribution by LTV , as of March 31, 2026 1 as of March 31, 2026 Loan Size No. of Average Loan Weighted Avg. Riverside ($ in millions) Loans Balance 2 Size LTV 1 1.2% < $0.5 41 $ 10.5 $ 0.3 40%
Slide 21: Multifamily Loans
Multifamily Loans Multifamily Loans Distribution by LTV1, Multifamily Loans by Location3, as of March 31, 2026 as of March 31, 2026 Out of State 0.2% No. of Average Loan Weighted Loan Size Others3 ($ in millions) Loans Balance 2 Size Avg. LTV 3.8% < $0.5 20 $ 5.5 $ 0.3 35% California - Bay Area 6.6%
Slide 22: Loans Held for Investment by Risk Category
Loans Held for Investment by Risk Category Special Pass Mention Substandard1 Doubtful Loss Nonaccrual2 Total ($ in Thousands) March 31, 2026 Construction and Land Development $ 132,005 $ 3,340 $ — $ — $ — $ 5,000 $ 140,345 Real Estate - Other: 1-4 Family Residential 126,459 — 2,662 — — — 129,121 Mul
Slide 23: Credit Profile
Credit Profile Adequate Reserves NPAs / Assets ($000) 1Q25 2Q25 3Q25 4Q25 1Q26 1.00% Nonaccrual Loans 0.97% 1-4 Family $ — $ — $ — $ — $ — CRE & Multifamily 1,763 1,705 83 83 23,689 0.75% 0.68% Construction & Land Development 14,659 14,659 13,497 13,808 5,000 Consumer — — — — — 0.46% 0.50% 0.40% Com
Slide 24: Allowance for Credit Losses – Loans
Allowance for Credit Losses – Loans as of and for the Three Months Ended March 31, 2026 1.13% 1 $35,000 $(381) thousand provision breakdown 1.14% 1 At At December 31, $441 March 31, $34,500 $34,348 $35 2025 2026 $(35) $— $13 $34,002 Balance (thousands) $34,000 $(302) $(372) $(126) $33,500 $33,000 $3
Slide 25: Noninterest Expense and Total Revenue
Noninterest Expense and Total Revenue Noninterest Expense ($MM) and Efficiency Ratio 1 Total Revenue2 ($MM) $30.0 $50.0 $45.2 $45.9 $44.8 $44.3 $44.2 $45.0 $24.0 $40.0 $35.0 60.8% $18.0 57.7% 55.6% 56.1% $30.0 51.7% $27.9 $25.0 $24.9 $24.8 $25.5 $12.0 $23.4 $20.0 $6.0 $15.0 $10.0 $— $5.0 1Q25 2Q25 3
Slide 26: Income Metrics
Income Metrics Tangible Book Value (TBV)1 and Net Income and Return on Average Assets (ROAA) ($MM) 3 Return on Average Tangible Common Equity (ROATCE)1,2 $20.0 $16.9 $16.4 2.00% $16.00 $13.79 $13.97 30.00% $14.1 $15.7 $12.29 $12.82 $13.39 $13.8 20.00% $10.0 1.71% 1.50% $8.00 1.54% 1.58% 17.75% 1.45%
Slide 27: Strong Capital Base
Strong Capital Base Tangible Common Equity Ratio1,3 Tier 1 Ratio2,3 13.3% 13.2% 13.3% 13.8% 12.9% 11.5% 11.5% 10.9% 10.9% 10.3% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Total Risk-Based Capital Ratio2,3 Leverage Ratio2,3 12.2% 12.1% 12.0% 14.8% 11.4% 11.6% 14.4% 14.3% 14.1% 14.2% 1Q25 2Q25
Slide 28: Appendix
Appendix 28
Slide 29: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-tax, pre-provision income is non-U.S. GAAP financial measure 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. Management believes that the exclusion of such items from
Slide 30: Non-GAAP Reconciliation
Non-GAAP Reconciliation Efficiency ratio is a non-U.S. GAAP financial measure 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. Management believes that the exclusion of such items fr
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) average tangible common equity, and (2) return on average tangible common equity. We believe the presentation of certain non-GAAP financial measures provides useful informat
Slide 33: California Bancorp / California Bank of Commerce
CALIFORNIA BANCORP CALIFORNIA BANK OF COMMERCE 33
California BanCorp — 28th Annual D.A. Davidson Financial Institutions Conference (May 2026) on 6ix