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Core Insights - California BanCorp (BCAL) shareholders experienced a significant stock decline of 25% from the beginning of the year until mid-April [1] Group 1: Stock Performance - The stock of California BanCorp dropped 25% from the start of the year through the second week of April [1] Group 2: Market Perspective - The financial markets are viewed as efficient, with most stocks reflecting their real current value, suggesting that opportunities for profit may arise from less-followed stocks or those not accurately reflecting market opportunities [1]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Insights - New York Post Media Group (NYPMG) is launching a new media venture called The California Post, set to debut in early 2026, aimed at providing comprehensive coverage of California from a local perspective [1][2][3] Company Overview - The California Post will be headquartered in Los Angeles and will feature a dedicated team of editors, reporters, and photographers focused on significant stories relevant to California residents [2] - Nick Papps, a veteran from News Corp, has been appointed as the Editor-in-Chief, bringing nearly two decades of editorial leadership experience [4] Market Context - The launch of The California Post is timely, as NYPMG's influence and reach have grown, with The Post Digital Network attracting 90 million unique visitors in June 2025, and 3.5 million monthly unique visitors from Los Angeles alone [3] - California is described as a news desert, with many important stories and perspectives currently underrepresented in the media landscape [5] Strategic Positioning - The California Post aims to fill the gap in California's media by providing common-sense journalism that addresses critical issues often overlooked by existing outlets [5][7] - The new venture will leverage NYPMG's national news-gathering capabilities, enhancing the value offered to readers [2][3] Audience Engagement - The California Post will operate across multiple platforms, including print, digital, and social media, to engage a diverse audience [1][8] - The publication is expected to resonate with Californians, particularly in light of the upcoming Olympic Games and World Cup, as well as the state's cultural and economic significance [5][8]

Company Overview - California BanCorp has a market capitalization of $533 million [11] - The company possesses total assets of $40 billion and deposits of $33 billion as of June 30, 2025 [11] - The company has a 5-year asset CAGR of 207% and a 5-year deposit CAGR of 234% [11] Balance Sheet and Loan Portfolio - Total loans held for investment were $30 billion at June 30, 2025, compared to $31 billion at March 31, 2025, and $19 billion at June 30, 2024 [10] - Noninterest-bearing deposits accounted for 368% of total deposits as of June 30, 2025 [10] - As of June 30, 2025, total multifamily loans amounted to $2585 million, representing 86% of total loans [66] Financial Performance - Net income for Q2 2025 was $141 million, with diluted EPS at $043 [25] - The return on average assets for Q2 2025 was 145%, and the return on average common equity was 1050% [25] - The net interest margin for Q2 2025 was 461% [25] - The efficiency ratio for Q2 2025 was 561% [25] - Non-performing assets to total assets stood at 046% for Q2 2025 [25] - The allowance for credit losses to total loans held for investment was 146% as of June 30, 2025 [25]

Financial Performance - The company reported adjusted 3Q24 EPS of $0.25, meeting outlook targets for NIM and expenses ahead of schedule[6] - Net Interest Margin (NIM) expanded by 13 bps QoQ to 2.93%[7, 8] - Adjusted Pre-Tax Pre-Provision (PTPP) income was $80 million in 3Q24, compared to $55.6 million in 2Q24[8, 10] - The company's Return on Average Tangible Common Equity (ROATCE) reached 7.30%[8] Balance Sheet Repositioning - The company sold $1.95 billion Civic loan portfolio, freeing up approximately $100 million of capital[6, 15] - $0.7 billion of investment securities were repositioned, expected to expand yield by approximately 270 bps, resulting in a $60 million pre-tax loss[6, 12] - Brokered deposits were reduced by approximately $1.85 billion at an average cost of ~5.35%[15] - The company paid off the remaining $545 million from the Bank Term Funding Program (BTFP) at a cost of ~5.4%[15] Balance Sheet Metrics - The company's Loan-to-Deposit (L/D) ratio was 87.8%, within the target range of 85% to 90%[6] - The Non-Interest-Bearing (NIB) deposit ratio was 29.1%, within the target range of 28% to 29%[6] - The company's CET 1 capital ratio increased by 18 bps to 10.45%[8, 30] Outlook - The company anticipates a NIM of 3.00% to 3.10% in 4Q24, assuming one additional 25 bps rate cut in mid-November[25] - The company expects noninterest expense to be between ~$195 million and $200 million in 4Q24[25]

Draft v4.5 1/21/24 Investor Presentation First Quarter 2025 Results Forward-Looking Statements and Other Matters First Quarter 2025 Earnings | 2 Financial Highlights 1Q25 results reflect 6% annualized loan growth, NIM expansion and YoY lower noninterest expense | | | | | | | | Change | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 1Q25 | 4Q24 | 1Q24 | QoQ D | YoY D | | | | | Operating results | | | | | | | EPS | NIM | | PTPP(1) EPS | $82.4mm | $82.9mm | $52.4mm | -0.7% | 57.2% $0.14 | ...

Financial Performance - Net income for Q4 2024 was $16.8 million, or $0.51 per diluted share, compared to a net loss of $16.5 million in Q3 2024 and net income of $4.4 million in Q4 2023[2] - Full year 2024 net income was $5.4 million, down 79.0% from $25.9 million in 2023, largely due to a one-time provision for credit losses and merger-related expenses[8] - Adjusted net income for Q4 2024 was $17,225,000, compared to $9,090,000 in Q3 2024, reflecting a significant increase[54] - Net interest income for Q4 2024 reached $44,541,000, up from $36,942,000 in Q3 2024, indicating a growth of 37%[54] - Total net interest income and noninterest income for the year ended December 31, 2024, was $127,744,000, compared to $97,517,000 in 2023, marking a year-over-year increase of 30.9%[54] Assets and Loans - Total assets as of December 31, 2024, were $4.03 billion, a 70.8% increase from $2.36 billion at the end of 2023, primarily due to the merger[8] - Total loans increased to $3.16 billion at December 31, 2024, up $1.2 billion from December 31, 2023, largely due to the merger[8] - Total assets at December 31, 2024, were $4.03 billion, a decrease of $331.1 million or 7.6% from September 30, 2024[22] - Total loans held for investment were $3.14 billion at December 31, 2024, a decrease of $60.5 million from the prior quarter, primarily due to loan sales and payoffs[23] - Average assets grew to $4,168,747,000 in Q4 2024 from $3,593,157,000 in Q3 2024, indicating strong asset growth[55] Efficiency and Ratios - The efficiency ratio (non-GAAP) improved to 57.4% in Q4 2024 from 98.9% in the prior quarter, excluding merger-related expenses it was 55.9%[8] - The efficiency ratio for the year ended December 31, 2024, was reported at 3.11%, slightly down from 3.25% in the previous year[51] - Adjusted return on average equity (non-GAAP) was 13.57% in Q4 2024, up from 8.44% in Q3 2024, reflecting improved profitability[55] Credit Losses and Provisions - Provision for credit losses was reversed by $3.8 million in Q4 2024, compared to a provision of $23.0 million in the prior quarter[15] - The reversal of provision for credit losses for loans held for investment in Q4 2024 was $2.9 million, a decrease of $22.6 million from the prior quarter's provision of $19.7 million[16] - The company has allocated $18.5 million for the initial provision for credit losses related to non-PCD loans acquired in the merger[44] Deposits - Total deposits decreased by $342.2 million, or 9.1%, to $3.40 billion at December 31, 2024, compared to $3.74 billion at September 30, 2024[8] - Total deposits at December 31, 2024, were $3.40 billion, a decrease of $342.2 million from September 30, 2024[24] - The company’s total deposits as of September 30, 2024, were $3.40 billion, an increase from $1.94 billion in the same period last year, marking a growth of 75.2%[45] Noninterest Income and Expenses - Noninterest income in Q4 2024 was $1.0 million, down $170 thousand from $1.2 million in Q3 2024, with a loss on sale of loans amounting to $1.1 million[17] - Total noninterest expense for Q4 2024 was $26.1 million, a decrease of $11.6 million from $37.7 million in the prior quarter, primarily due to reduced merger-related expenses[18] - Noninterest expense for the three months ended September 30, 2024, was $26.13 million, a decrease of 30.5% from $37.68 million in the prior year[47] Shareholder Value - Tangible book value per common share increased to $11.71 at December 31, 2024, up $0.43 from the prior quarter[8] - Book value per share increased to $15.86 in Q4 2024 from $15.69 in Q4 2023, reflecting a stable growth in shareholder value[55] - Shares outstanding increased to 32,265,935 as of December 31, 2024, compared to 18,369,115 in the previous year, indicating potential dilution[55]

Company Performance - California Bank of Commerce (CALB) reported a quarterly loss of $0.68 per share, missing the Zacks Consensus Estimate of $0.52, and down from earnings of $0.65 per share a year ago [1] - The company posted revenues of $18.34 million for the quarter, missing the Zacks Consensus Estimate by 5.46%, and down from $19.78 million year-over-year [8] - The quarterly report represents an earnings surprise of -230.77%, with a previous expectation of $0.55 per share resulting in an actual earnings of $0.57, delivering a surprise of 3.64% [7] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.53 on revenues of $19.8 million, and for the current fiscal year, it is $2.15 on revenues of $78.6 million [11] - The estimate revisions trend for California Bank of Commerce is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [5] Industry Context - The Zacks Industry Rank for Banks - Southwest, which includes California Bank of Commerce, is currently in the top 41% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [10]