California Bancorp Reports $15.7M Net Income Surge

By Greg Peters • Tuesday, October 28 10:36 • Permanent Link

California Bancorp has reported a net income of $15.7 million for the third quarter of 2025, up from $14.1 million in the second quarter of the same year and a significant improvement from the net loss of $16.5 million in the third quarter of 2024.

The company's net interest margin for the third quarter of 2025 was 4.52%, compared with 4.61% in the prior quarter, and the average total loan yield was 6.50% compared with 6.58% in the prior quarter.

The efficiency ratio, a non-GAAP measure, improved to 51.75% in the third quarter from 56.09% in the prior quarter.

California Bancorp's tangible book value per common share (non-GAAP) rose to $13.39 at September 30, 2025, up $0.57 from $12.82 at June 30, 2025.

Total assets increased to $4.10 billion at September 30, 2025, compared with $3.95 billion at June 30, 2025.

Total loans, including loans held for sale, remained steady at $3.00 billion at September 30, 2025, compared with $3.00 billion at June 30, 2025.

Nonperforming assets to total assets ratio decreased to 0.38% at September 30, 2025, from 0.46% at June 30, 2025.

Total deposits increased to $3.46 billion at September 30, 2025, marking a $147.4 million or 4.4% growth compared with $3.31 billion at June 30, 2025.

The company repurchased 89,500 shares of common stock at an average price of $15.22 and a total cost of $1.4 million under the stock repurchase program.

In terms of its capital position, the company's preliminary capital ratios at September 30, 2025, exceeded the minimums required to be "well-capitalized," the highest regulatory capital category.

The reversal of provision for credit losses was $15 thousand for the third quarter of 2025, compared with $634 thousand for the prior quarter.

Total noninterest expense for the third quarter of 2025 was $23.4 million, a decrease of $1.5 million from the prior quarter.

The company's income tax expense was $6.1 million for the third quarter of 2025, compared with $6.0 million for the second quarter of 2025.

As a result of these announcements, the company's shares have moved -0.81% on the market, and are now trading at a price of $17.21. Check out the company's full 8-K submission here.

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