California Bancorp · NASDAQ:BCAL
California Bancorp — California BanCorp \ CA — Q4 2025 Earnings Presentation
34 slides from California Bancorp's earnings presentation, Jan 28, 2026
Slide 1: Investor Presentation December 31, 2025
Investor Presentation December 31, 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 5'* 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 $596M |] $4.0B |] 21.1% Market Cap! Assets? Sal assel mn seri $3.4B |} 23.1% * 5-Yr Deposit Meraer of Deposits? CAGR Equals: Market data as of January 23, 2026. Over the past 10 years. As of December 31, 2025.
Slide 6: Attractive Market Position
Attractive Market Position Banks in California‘ California is the Largest Banking Market in the United States $4.2T 5th 4OMM_— 1.7MM California GDP" Largest economy in 2023 Population? Small Businesses? he world behind Japan and ahead of India! CJ BCAL's Southern California Footprint $1.67 16% 23MM.
Slide 7: High Growth Franchise
High Growth Franchise % Since 2019, total assets have grown organically and through strategic M&A by $3.2 billion, or 386%, powered by a dedicated and accomplished team. July 2018 Acquired Americas United Bank ($230MM Assets) $537 2018 November 2020 David Rainer joined BCAL May 2020 Acquired CalWest
Slide 8: Experienced Leadership Team
Experienced Leadership Team David |. Rainer Richard Hernandez Thomas Dolan Chairman and Chief Executive Officer President Chiet hnonclet Oficers Banking Experience: Banking Experience: Banking Experience: > 40 Years > 25 Years > 40 Years Peter Nutz Jean Carandang Chief Credit Officer, Bank Chief Fin
Slide 9: Our Vision for a Premier Banking Franchise
Our Vision for a Premier Banking Franchise & 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 of l
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 FY 2025 2025 Strategic Focus Net Income $16.4 $15.7 . $16.9 $63.1 $5.4 ; Diluted EPS $0.50 $0.48 ’ $052 $193 «$0.22 Dedicated to our relationship-based Pre-tax, Pre-provision Income (PTPP)' $18.0 $21.8 F $19.9 $79.1 $30.0 commercial business
Slide 12: Balance Sheet
Balance Sheet (s in 000s) Assets liabilities Sharehold 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 Total Deposits Subordinated Debentures Other Liabilities Total L
Slide 13: 4Q25, 3Q25 and 4Q24 Income Statements
4Q25, 3Q25 and 4Q24 Income Statements For the Income Statement (s in 000s) three months ended 31, 2025 30, 2025 31, 2024 Interest Income Loans $ 47,426 $ 48,721 $ 54,791 Securities 2,701 2444 2,003 Interest and dividends from other institutions 6,054 6,023 5,764 Total Interest Income 56,181 57,188 6
Slide 14: 2025 and 2024 Income Statements
2025 and 2024 Income Statements Income Statement (s in 000s) Interest Income For the years ended December 31, 2025 December 31, 2024 Loans $ 195,913 $ 159,960 Securities 9.029 7,050 Interest and dividends from other institutions 21,028 12,788 Total Interest Income 225,980 179.798 Interest Expense De
Slide 15: Net Interest Margin
Net Interest Margin Yield on Earning Asses Is ni Total loans @. 981. 137 $47,426 Taxable debt securities 221,991 2,403 Tax-exempt debt securities! 52,437 298 Deposits in other financial institutions 515,730 5,215 4.01% Fed fund sold/resale agreements 26,854 268 3.96% Restricted stock investments and
Slide 16: Low-Cost Core Deposits
Low-Cost Core Deposits Deposit Mix Cost of Deposits for at quarter ended the quarter ended 100% 2.00% 1.87% oe 59% 1.59% 1.59% OR Brokered et time 1.40% 1.43% 80% Deposits 1.20% at 0% 1.00% since 0.80% 7 3/31/2025 020% 0.40% 60% 0.20% 0.00% 60% 4Q24 1025 225 3Q25 4Q25 40% . Total Deposits at quarter
Slide 17: Significant Access to Liquidity & Funding Capacity
Significant Access to Liquidity & Funding Capacity As of 12/31/2025 Cash AFS Securities FHLB Fed DW Correspondent Banks Total ($ in millions) $ 399.9 $ 2 $ 399.9 234.9 42.3 192.6 814.3 65.0 749.3 327.8 = 327.8 90.5 : 90.5 $ 1,867.4 $ 107.3 $ 1,760.1 $399.9 cash AFS Securities Fed DW Significant Avai
Slide 18: Loan Portfolio
Loan Portfolio $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 4.50% Total Loans | ($MM), ‘at the quarter ended 1925 20925 Yield on Loans, for the quarter ended 6.84% 61% 6.58% 6.50% 6.31% 6.08% 5.87% = <= 5.80% 5.39% 5.91% 4024 1025 2025 3025 4025 Yield on loans =~ ——=Yield on loans less accretion Contra
Slide 19: Loan Portfolio Composition by Type and Location
Sponsor Finance, Other? 0.7% 0.7% Construction & Land Dev 4.5% 1-4 SER 4.7% counties. CRE - Retail 9.0% CRE - Hotel 5.7% CRE - Special Purpose, 3.8% CRE - Medical/Dental Office 3.5% CRE - Self Storage 3.3% Total loans includes loans held for sale and loans held for investment, ides loans secured by
Slide 20: Low LTV Commercial Real Estate Loans
Low LTV Commercial Real Estate Loans Total CRE! Distribution by LTV2, as of December 31, 2025 CRE NOO vs CRE OO by Property Type, as of December 31, 2025 >as%io70% "40% 8 100% + >60% to 65% < 50% pa % to 65% h eo 90% + cri % aN 58% ° CRE - Mixed Use, [ 7. >55% to 60% 80% + 13% >50% to 55% 70% + CRE
Slide 21: 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 December 31, 2025 December 31, 2025 Others Out of State, vena 4.8% : 2.9% Orange, : 2.3% < $0.5 40 $10.0 $0.3 40% ° y, o% $0.5 -< $2 57 $51.0 $0.9 45% San Diego $2-<$5 19 $61.4 $3.2 48% 8.3% $5-<$10 7 $4
Slide 22: Multifamily Loans
Multifamily Loans Itifamily Loans Distribution by LT Multifamily Loans by Location’, il as of December 31, 2025 No. of Average Weighted Out of State, Others, 6.6% [ Loans Balance? Loan Size __ Avg. LTV! California - Bay Area. 73% < $0.5 19 $5.9 $0.3 34% 67% > $0.5-<$2 42 $53.4 $1.3 48% $2-<$5 26 $80
Slide 23: Loans Held for Investment by Risk Category
Loans Held for Investment by Risk Category Special Pass Mention Substandard* Doubtful Loss __Nonacerual* Total (Sin Thousands, December 31, 2025 Construction and Land Development $ 125,014 $ ry 2 $ - $ - §$ 13808 $ 138,804 Real Estate - Other: 1-4 Family Residential 139,732 - 2,067 - - - 142,399 Mul
Slide 24: Credit Profile
Credit Profile NPAs / Assets (S000) 4024 1025 2025 3025 4Q25] 0.80% 0.76% Nonaccrual Loans 0.68% 1-4 Family $2,895 $ - § - $$ -§ - 0.60% CRE & Multifamily 8,915 1,763 1,705 83 83 “ 0.40% Construction and Land Development 9,659 14,659 14,659 13,497 13,808 0.40% Consumer - = - - - Commercial 4917 6358
Slide 25: Allowance for Credit Losses — Loans
Allowance for Credit Losses — Loans as of and for the Three Months Ended December 31, 2025 1.38%! At “ae $41,292K $2,719K September 30, ($4.2 million) provision breakdown 2025 - ($1,186K) 8 € 38M 3 @ 8 364 ($3,858K) —($34K) 34M December 31, 2025 > During the fourth quarter of 2025, the reversal of p
Slide 26: Noninterest Expense and Total Revenue
Noninterest Exoense ($MM) for the quarter ended Total Revenue? ($MM) for the quarter ended: $30.0 100.0% $0.6 57.4% $45.5 $45.2 $45.9 Z ; 55.6% 56.1% 90.0% 45 — $44.3 $25.0 56.0 80.0% 40 $20.0 70.0% a5 [ 60.0% 30 $15.0 = _ 50.0% 25 $10.0 40.0% 20 30.0% 15 $5.0 20.0% 10 $0.0 10.0% t | 4024 1925 2925
Slide 27: Net Income and Tangible Book Value Per Share
Net Income? ($MM) Tangible Book Value Per Share (TBVPS)! $18.0 $15.00 30.00% 1.71% 2.00% 18.04% 17: ay say 94% 1.5389 $16.0 $10.00 $1 20.00% $14.0 eae ee 1.50% vos ~ ~ yo | _ $10.0 1.00% $0.00 0.00% aG24 ol 205 #025 ACES 4024 1025 2025 3025 4025 mm Net income ROAA memes —ROATCE Pre-Tax Pre-Provision
Slide 28: Tangible Common Equity Ratio and Tier 1 Ratio
Tangible Common Equity Ratio! Tier 1 Ratio? i 9 14.1% 142% 11.1% 12.2% tis 11.4% 11.6% T r i i 1025 3025 4025 4024 1025 2025 3025 4025 1. Non-GAAP financial measure; a to the Nt is provided at the end of this slide presentation. 2. Tier 1 ratio, total risk-based capital ratio and leverage ratio are
Slide 29: Appendix
Appendix
Slide 30: 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 31: 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 32: 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 33: 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 34: California BanCorp / California Bank of Commerce
CALIFORNIA BANCORP CALIFORNIA BANK OF COMMERCE 34
California BanCorp \ CA — Q4 2025 Earnings Presentation on 6ix