California Bancorp · NASDAQ:BCAL
California Bancorp — California BanCorp \ CA — Q3 2025 Earnings Presentation
33 slides from California Bancorp's earnings presentation, Oct 28, 2025
Slide 1: Investor Presentation September 30, 2025
Investor Presentation September 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'* 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 Ata Glance Branch and LPO Footprint BCAL San Diego Nasdaq Headquarters $563M |} $4.1B |] 21.1% Market Cap! Assets? eu 4 scdifttine |] $3.5B || 24.9% | Deposits? 5-¥ Deposit Meee! aene Market data as of October 24, 2025. Over the past 10 years. As of September 30, 2025. Ps (CAGR} o
Slide 6: Attractive Market Position
Attractive Market Position California is the Largest Banking Market in the United States $4.1T Ath 40MM 1.7MM California GDP! Largest economy in 2023 Population? Small Businesses? co the world behind d ermany and ahoc fapan’ oO 24 Banks in California‘ BCAL's Southern California Footprint $1.61 16% 2
Slide 7: High Growth Franchise
High Growth Franchise % Since 2019, total assets have grown organically and through strategic M&A by $3.3 billion, or 394%, powered by a dedicated and accomplished team. November 2020 David Rainer joined BCAL May 2020 Acquired CalWest July 2018 Acquired Americas Bancorp ($311MM Assets) United Bank $
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 Strong Leadership Ey 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 of lo
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 | Highlights Q32025 Q2 2025 Q12025 Q42024 Q3 Strategic Focus Net Income (Loss) $15.7 $14.1 $16.9 $168 $165). Dedicated to our Diluted EPS $0.48 $0.43 $0.52 $0.51 $10.59) relationship-based Pre-tax, Pre-provision Income (PTPP)' $21.8 $19.4 $1
Slide 12: Balance Sheet
Balance Sheet Cash and Cash Equivalents $559,216 $430,137 $439,241 $388,162 $614,423 $493,088 Debt Securities 262,424 241,275 184,787 195,281 212,694 219,674 Loans Held for Sale 6,685 6,088 4,625 17,180 33,704 7,338 Loans Held for Investment 2,990,299 2,991,560 3,068,744 3,139,165 3,199,714 3,211,22
Slide 13: 3Q25, 2Q25 and 3Q24 Income Statements
3Q25, 2Q25 and 3Q?4 Income Statements For the Income Statement (s in 000s) three months ended September 30, 2025 June 30, 2025 September 30, 2024 Interest Income Loans $ 48,721 $ 49,080 $ 47,528 Securities 2,142 1,751 1,687, Other interest income 6,023 4,955, 412 Total Interest Income 57,188 55,786
Slide 14: Net Interest Margin
Net Interest Margin Yield on n Eaming Assets Total loans $2,974,224 $48,721 Taxable debt securities 191,922 2,142 Tax-exempt debt securities! 53,092 302 . Deposits in other financial institutions 452,615 5,101 4.47% Fed fund sold/resale agreements 29,575 315 4.23% Restricted stock investments and ot
Slide 15: Low-Cost Core Deposits
Low-Cost Core Deposits 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Deposit Mix Cost of Deposits for at quarter ended the quarter ended 2.50% 2.00% 09% 87% 59% 9%, 1.59% 1.50% 1.00% 0.50% 0.00% 3Q24 4Q24 1925 2025 3Q25 Total Deposits at quarter ended ($MM) $4,000 $3,741 $3,500 $3,399 $3,343 $3,312 $3
Slide 16: Significant Access to Liquidity & Funding Capacity
Significant Access to Liquidity & Funding Capacity As of 9/30/2025 Cash AFS Securities FHLB Fed DW Correspondent Banks Total ($ in millions) $ 559.2 $ - $ 559.2 209.4 18.1 191.3 795.4 45.0 750.4 347.8 = 347.8 90.5, = 90.5 $ 2,002.3 $ 63.1 $ 1,939.2 $559.2 cash Significant Available Liquidity $90.5 $
Slide 17: Loan Portfolio
Loan Portfolio Total Loans | ($MM), $3,500 ‘at the quarter ended $3,000 $2,500 $2,000 $1,500 $1,000 3Q24 4Q24 1925 2925 Yield on Loans, for the quarter ended 7.50% 7.00% 6.79% 4% 1% 6.58% 6.50% 6.50% 6.00% 5.50% 5.00% 4.50% 3024 4Q24 1025 2025 3025 contractual Maturity Summary for the next 3 years a
Slide 18: Loan Portfolio Composition
Sponsor Finance 0.7% 1-4 SER 4.7% Construction Land Dev) 5.8% D Sacramento orenes Ventura Other? 0.8% 6% \ 2 5% \ Riverside Calif rnia - Bay Area 24% Ea oe 8% 1 CRE* Total Loans 58.6% @E-Giitea Total CRE Loans $3.00 billion 9.0% $1.76 billion CRE - Hotel 4.7% owes CRE - Special Purpose, 3.9% 10% CRE
Slide 19: Low LTV Commercial Real Estate Loans
Low LTV Commercial Real Estate Loans Total CRE! Distribution by LTV2, as of September 30 >65%10 70% 740% 1% is 100% + >60% to 65% 9% < 50% 90% + 54% >55% to 60% [ 80% + 13% 70% + >50% to 55% Weighted Avg. 60% + Balance 43 Average Loan Size LIv2 CRE - Industrial 278 $513.7 18 50% 50% CRE - Office 132
Slide 20: CRE Office Distribution by LTV
CRE Office Distribution by LTV!, as of September 30, 2025 <$0.5 42 $10.3 $0.2 40% $0.5 -< $2 56 $49.9 $0.9 46% $2-<$5 20 $59.7 $3.0 49% $5-<$10 7 $45.2 $6.5 60% $10 -< $20 5 $60.8 $12.2 48% 2 $20 2 $44.8 $22.4 58% CRE - Office 132 $270.7 $2.1 51% CRE Medical/Dental Office Distribution by LTV!, as of
Slide 21: Multifamily Loans
Multifamily Loans Itifamily Loans Distribution by LT Multifamily Loans by Location’, b 5 as of September 30, 2025 pare State, 7 5% Average Weighted _ ~ Californie a Areq Loans Balance? Loan Size _Avg. LIV! < $0.5 24 $6.5 $0.3 34% $0.5-<$2 40 $49.9 $1.2 49% San Pee. $2-<$5 26 $79.2 $3.0 56% $5-<$10 1
Slide 22: Loans Held for Investment by Risk Category
Loans Held for Investment by Risk Category Special Pass Mention + Doubtful _Loss > Total ($in Thousands, 30, 2025 Construction and Land Development $ 144,197 $ 14,979 $ 74 $ - $ - $ 13,497 $ 172,747 Real Estate - Other: 1-4 Family Residential 139,079 7 2,692 7 7 - 141,771 Multifamily Residential 286
Slide 23: Credit Profile
Credit Profile NPAs / Assets (S000) 3024 4024 1025 2025 5 0.80% Nonaccrual Loans 1-4 Family $2,895 $2,895 $ - $ -$ - 0.60% CRE & Multifamily 9,432 8,915 1,763 1,705 83 Construction and Land Development 9,105 9,659 14659 14,659 13,497 0.40% Consumer - - - - - Commercial 4,002 4,917 6,358 1,990 2,020
Slide 24: Allowance for Credit Losses — Loans
Allowance for Credit Losses — Loans as of and for the Three Months Ended September 30, 2025 $221 thousand provision breakdown $1,489K September 30, 2025 ($965k) $41,292K }41,110K . ($333k) ($39K) ($587k) > During the third quarter of 2025, the provision for credit losses for loans held for investmen
Slide 25: Noninterest Expense and Total Revenue
Noninterest Expense and Total Revenue Noninterest Exoense ($MM) Total Revenue? ($MM) for the quarter ended: for the quarter ended: <— 98.9% 100.0% 50 45.5 90.0% 5 $ $44.8 $44.3 $45.2 80.0% 40 $38.1 $0.6 574% 56.0% 55.6% 56.1% 51.8% 70.0% 35 60.0% 30 50.0% 25 40.0% 20 : 30.0% 15 20.0% 10 10.0% L 3Q24
Slide 26: Income Metrics
Income Metrics Net Income (Loss)> ($MM) Tangible Book Value Per Share (TBVPS)'2 14.00 = - 30.00% $20.0 1.60% 1.71% 4.45% 1.54% 2.00% . 18.04% 17.75% 13.08 fo N872% oy, _ 1.50% J $10.0 100% $13.00 $13.39 on $0.0 0.00% $12.00 0.00% 0.50% ($10.0) 1.00% $11.00 10.00% -1.50% ($20.0) -1.82% 2.00% -20.00%
Slide 27: Tangible Common Equity Ratio and Tier 1 Ratio
Tangible Common Equity Ratio! Tier 1 Ratio? 14.4% 14.3% 12.4% 2.2 9 14.1% tax 12.2% 12.1% ie 13.5% 12.5% 3024 4024 1025 2025 3025 3024 1025 2025 3025 1. Non-GAAP financial measure: to the Nts provided at the end of this slide presentation. 2. Tier 1 ratio, total risk-based cepa ratio and leverage ra
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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