California Bancorp · NASDAQ:BCAL
California Bancorp — California BanCorp \ CA — Q1 2026 Earnings Presentation
33 slides from California Bancorp's earnings presentation, Apr 28, 2026
Slide 1: Investor Presentation March 31, 2026
Investor Presentation March 31, 2026 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 serv
Slide 5: California BanCorp
California BanCorp At a Glance Branch Footprint BCAL San Diego Nasdaq Headquarters $596M || $4.08 || 21.1% Market Cap" Assets? Ber Asset ‘ 9, anti || $3.4B |] 23.1% il Deposits? 5-Ys Deposit MOE Market data as of January 23, 2026. ‘Over the past 10 years. As of March 31, 2026. 5 ‘Compound annual gro
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 — 272 California GDP' Largest seonemainiine 2023 Population? ‘Small Businesses? world behind Japan and ahead of India’ 124 BCAL’s Southern California Footprint $1.6T
Slide 7: High Growth Franchise
High Growth Franchise % Since 2019, total assets have grown organically and through strategic M&A by $3.2 billion, or 388%, powered by a dedicated and accomplished team. November 2020 David Rainer joined BCAL July 2024 Closed merger of California BanCorp and Southern California Bancorp (S1.86B Asset
Slide 8: Experienced Leadership Team
Experienced Leadership Team David |. Rainer Chairman and Chief Executive Officer Banking Experience: > 40 Years Peter Nutz Chief Credit Officer, Bank Banking Experience: > 20 Years Richard Hernandez President Banking Experience: > 25 Years Chief Financial Officer, Company Jean Carandang Chief Financ
Slide 9: Our Vision for a Premier Banking Franchise
Our Vision for a Premier Banking Franchise aly & i) Strong Leadership Experienced teams living and working in their respective California communities, and actively involved in local organizations Reputation and credibility of leadership attracts top talent in the market Bank Advisory Boards composed
Slide 10: Financial Highlights
Financial Highlights
Slide 11: Financial Highlights
Financial Highlights | Highlights (Sin ions except per share data) Net Income Diluted EPS Pre-tax, Pre-provision Income (PTPP]! Return on Average Assets Return on Average Common Equity Net Interest Margin Efficiency Ratio® Non-performing Assets/Total Assets Allowance for Credit Losses/Total Loans He
Slide 12: Balance Sheet
Balance Sheet Cash and Cash Equivalents Debt Securities Loans Held for Sale Loans Held for Investment. Allowance for Loan Losses Net Loans Goodwill and Other Intangibles Other Assets Total Assets Liabilities Total Deposits ‘Subordinated Debentures Other Liabilities Total Liabiliti Shareholders’ Equi
Slide 13: 1Q26, 4Q25 and 1Q25 Income Statements
1Q26, 4Q25 and 1Q25 Income Statements Income Statement ($ in 000s) Three Months Ended Interest Income Interest and dividends from other institutions Total Interest Income Interest Expense Deposits Borrowings Total Interest Expense Net Interest Income Reversal of provision for credit losses after Rev
Slide 14: Net Interest Margin
Net Interest Margin Yield on Earning Assets (for three months ended March 31, 2026) Cost of Funds (for three months ended March 31, 2026) Avg.Balance Income _Yield Avg. Balance Expense Cost Total loans $ 3,013,389 $ 45,628 6.14% _Interest-bearing NOW accounts $ 919,891 $ 3,362 148% Taxable debt secu
Slide 15: Low-Cost Core Deposits
Low-Cost Core Deposits Deposit Mix and Growth at quarter ended: 20% 10% 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 [BE Noninterest-bearing Demand Money Market & Savings | icsrat Brokered Time Deposits, I Time Deposits 97.3% Core deposits" | 36.8% Interest-bearing Checking CDARS Time Deposits
Slide 16: Significant Access to Liquidity & Funding Capacity
Significant Access to Liquidity & Funding Capacity As of 3/31/26 ($ in millions) Cash $ 4111 $ —$ 4114 AFS Securities 298.6 100.8 197.8 FHLB 821.7 65.0 756.7 FRB DW 318.8 _ 318.8 Other Sources 90.5 = 90.5 Total $ 1,940.7_$ 165.8 _$ 1,774.9 Significant Available Liquidity ($ in millions) $90.5 $1,774
Slide 17: Loan Portfolio
Loan Portfolio Total Loans + (SMM), Contractual Maturity Summary for the next 3 years as of March 31, 2026 at the quarter ended ($ in millions) <1year 1-2 Years > 2-3 Years % of total % of total % of total #000 $ Loans $ Loans $ Loans $4000 $3,073 $2,998 $2,997 $3,059 $2,997 Construction & land deve
Slide 18: Diverse Loan Portfolio
Diverse Loan Portfolio Out of State - on\ alifornia - Bay Area - 23% Ci ‘al Loan Portfo Otners* 7% J * ‘ “ San Bernardino - 3% Commercially Focused | Relationship Based _ Total CRE Loans Sacramento - 6% ——, $1.85 billion Riverside - 6% —— @ vos Angeles - 24% San Diego - 11% ai Ventura - on! lOrange
Slide 19: Low LTV Commercial Real Estate Loans
Low LTV Commercial Real Estate Loans Total CRE? Distribution by LTV?, as of March 31, 2026 CRE NOO vs CRE OO by Property Type, as of March 31, 2026 >70% 6% \ >65% to 70% _ 8% >60% to 65% ——~ 10% <50% CRE NOO CRE - Restaurant, 2.4% CRE - Medical/Dental Office, 3.2% CRE - Special Purpose, 3.9% CRE - O
Slide 20: CRE Office and Medical/Dental Office Loans
CRE Office and Medical/Dental Office Loans LTV2, as of March 31 CRE Office and Medical/Dental Office as of March 3 Byeras! Riverside Loans _ Balance z 1.29 a § 10.5 § . Orange >. $0.5-<$2 56S 501 $ 09 16% — §2-<$5 19 § 61.3 § 3.2 48% _ ot State California - Bay Area $5-<$10 8 S$ 53.9 $ 6.7 58% hers
Slide 21: Multifamily Loans
Multifamily Loans Itifamily Loans Distribution by LTV* amily Loans by Locat as of March 3 as of March 31, 2026 Out of State 0.2% No. of Average Loan Weighted (einaaions) Loans Balance Size Avg. LTV Others! age <$0.5 20 § 55 03 35% Calfomia- Bay Area “a $0.5 -< $2 35. § 415 $ 1.2 50% Bem v4 $2-<$5 m4
Slide 22: Loans Held for Investment by Risk Category
Loans Held for Investment by Risk Category Special Pass Mention Doubtful Loss Nonaccrual? Total ($ 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 Multifamily Reside
Slide 23: Credit Profile
Credit Profile Adequate Reserves ($000) 1Q25 2Q25 4Q25 Loans 1-4 Family $ =—5$ = 5 =—§ -—§$ = CRE & Multifamily 1,763 1,705 83 83 23,689 Construction & Land Development 14,659 14,659 13,497 13,808 5,000 Consumer = = - = = Commercial 6,358 1,990 2,020 2,195 1,936 Total Nonaccrual 22,780 18,354 15,600
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% * $35,000 [ $(381) thousand provision breakdown | At L T December 31, $441 March 31, 2025 $34,500 $34,348 $35, 2026 aoe 2 - $— $13 $34,002 F $34,000 $(302) = — — § $(372) $(126) g $33,500 8 5 § $33,000 $32,
Slide 25: Noninterest Expense and Total Revenue
Noninterest Expense and Total Revenue Noninterest Expense (SMM) and Efficiency Ratio * Total Revenue? (SMM) $30.0 $50.0 $45.9 oso 8448 $44.3 2 $44.2 $24.0 $40.0 $35.0 $18.0 $30.0 ’ $25.0 $12.0 4 $20.0 $6.0 $15.0 $10.0 s— $5.0 1025 2025 3025 4025 1026 HH Noninterest expense _-@- Efficiency ratio a 10
Slide 26: Income Metrics
Income Metrics Net Income and Return on Average Assets (ROAA)? (SMM) $20.0 $16.9 16.4 2.00% $14.1 $15.7 i $13.8 $10.0 1.50% $— 1.00% 1025 2025 3025 4025 1026 HI Netincome -@ ROAA Pre-Tax Pre-Provision Income? (SMM) $21.8 : $19.4 ; $180 $187 1025 2025 3Q25 4Q25 1026 Tangible Book Value (TBV)? and Ret
Slide 27: Capital Ratios
Tangible Common Equity Ratio? Tier 1 Ratio 13.3% 13.2% 12.9% 13.3% 13.8% , 9 11.5% 11.5% : : ; : : : : ; 1025 2025 3025 4025 1026 1025 2025 3025 4025 1026 : . we) ' Total Risk-Based Capital Ratio?* Leverage Ratio”? 12.2% 12.1% 12.0% 14.4% 14.3% 14.1% 14.2% 14.8% 11.4% 11.6% 1a26 2025 ues AQ25 hai 10
Slide 28: Appendix
Appendix
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 BANCORP CALIFORNIA BANK OF COMMERCE 33
California BanCorp \ CA — Q1 2026 Earnings Presentation on 6ix