CALIFORNIA BANCORP REPORTS STRONG SECOND QUARTER EARNINGS, SIGNIFICANT LOAN GROWTH AND IMPROVED CREDIT QUALITY

About this update from California Bancorp

[{"type":"image","size":{"original":{"url":"data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw=="}},"alt":"California BanCorp"},{"type":"text","tagName":"p","content":"— Company to increase its quarterly dividend by $0.02 to $0.12 per common share in the third quarter of 2026  "},{"type":"text","tagName":"p","content":"San Diego, Calif., July 27, 2026 (GLOBE NEWSWIRE) -- California BanCorp (\"us,\" \"we,\" \"our,\" or the \"Company\") (NASDAQ: BCAL), the holding company for California Bank of Commerce, N.A. (the \"Bank\") announces its consolidated financial results for the second quarter of 2026. "},{"type":"text","tagName":"p","content":"The Company reported net income of $14.3 million, or $0.44 per diluted share, for the second quarter of 2026, compared to $13.8 million, or $0.42 per diluted share for the first quarter of 2026, and $14.1 million, or $0.43 per diluted share for the second quarter of 2025. "},{"type":"text","tagName":"p","content":"\"I am pleased to report a very solid second quarter by the Bank, highlighted by strong earnings of $14.3 million, meaningful loan growth of $113.7 million, and a significant improvement in credit quality, with nonperforming assets to total assets decreasing more than 50% to 0.44% from 0.97%,\" said David Rainer, Chairman and CEO of the Company and Bank. \"I'm also pleased to report our loan growth was well balanced, reflecting our ability to generate new banking relationships with businesses throughout our footprint. Given our strong performance and capital position, we are increasing our quarterly dividend to $0.12 beginning in the third quarter.\" "},{"type":"text","tagName":"p","content":"\"We continue to focus on our organic growth strategy, with top tier bankers in each of our California markets,\" said Richard Hernandez, President of the Company and Bank. \"Despite strong competition in our footprint, our team successfully generated new client relationships and increased business development activity in each of our regional commercial banking offices. We remain confident in the strength of our franchise and our ability to continue growing in a disciplined and profitable manner.\" "},{"type":"text","tagName":"p","content":"Second Quarter 2026 Highlights "},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","co...

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