Here are 1-3 brief analogies for California BanCorp (BCAL):

• Like a regional Wells Fargo, focused exclusively on commercial and private banking in the San Francisco Bay Area.
• A community-oriented Bank of America for businesses and affluent clients in the San Francisco Bay Area.
• Think of it as a local version of U.S. Bancorp, serving the specific banking needs of the San Francisco Bay Area.

• Commercial & Industrial (C&I) Loans: Loans provided to businesses for working capital, equipment purchases, or general operational needs.
• Commercial Real Estate (CRE) Loans: Financing for the acquisition, development, and refinancing of income-producing properties.
• Construction Loans: Short-term financing for building new properties or renovating existing ones.
• Deposit Accounts: A range of checking, savings, money market, and certificate of deposit accounts for businesses and individuals.
• Treasury Management Services: Business banking solutions like cash management, online banking, and remote deposit capture to optimize financial operations.
• SBA Loans: Government-guaranteed loans designed to support the growth and development of small businesses.

California BanCorp (symbol: BCAL) is a bank holding company whose primary subsidiary is California Bank of Commerce. As a commercial bank, it serves a diverse range of customers, primarily businesses.

Due to the confidential nature of banking relationships, California BanCorp does not publicly disclose the names of its specific major customer companies. Instead, its customer base consists of a broad array of businesses and individuals falling into general categories. The bank primarily serves businesses, making the "categories of customers" approach more appropriate for describing its client base:

1. Commercial Businesses: This includes small to medium-sized businesses (SMBs) and larger enterprises across various industries throughout Northern California. These customers seek a range of services including commercial loans, lines of credit, treasury management services, and deposit accounts.
2. Commercial Real Estate (CRE) Developers and Investors: Entities involved in the acquisition, development, and management of commercial properties (e.g., office buildings, industrial spaces, multi-family housing) constitute a significant customer segment, requiring financing solutions for their projects.
3. High-Net-Worth Individuals and Business Principals: While primarily a commercial bank, BCAL also serves individuals, often those connected to its business clients, who require private banking, wealth management, and specialized deposit services.

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Steven Shelton, Chief Executive Officer
Mr. Shelton is the Chief Executive Officer and Director of California BanCorp (BCAL) and California Bank of Commerce (CBC). He was a founder of California Bank of Commerce and has been with the bank since its inception. Previously, he served for thirteen years in various executive management positions, including President, of CivicBank of Commerce, which was acquired by City National Bank in 2002.

Thomas Dolan, Chief Financial Officer (California BanCorp) & Chief Strategy Officer
Mr. Dolan serves as the Chief Financial Officer for California BanCorp and Chief Strategy Officer of California Bank of Commerce. He brings 40 years of experience in strategic and operational leadership within highly entrepreneurial, growth-oriented financial institutions. Prior to the merger, he was the Chief Financial Officer and Chief Operating Officer of Southern California Bancorp.

David I. Rainer, Executive Chairman
Mr. Rainer is the Executive Chairman for California BanCorp (BCAL) and California Bank of Commerce (CBC). Before the merger with CBC, he served as the Executive Chairman and Chief Executive Officer of Bank of Southern California.

Richard Hernandez, President
Mr. Hernandez is the President of California Bank of Commerce (CBC) and brings over 24 years of industry experience to the California Market. He previously served as President of Southern California Bancorp and now holds the position of President for the combined company and bank.

Michele Wirfel, Chief Operating Officer
Ms. Wirfel serves as the Chief Operating Officer of California Bank of Commerce.

• Deterioration in the Commercial Real Estate (CRE) market, particularly in California, posing a threat to asset quality and loan performance. California BanCorp has a significant concentration in CRE loans, and the market, especially for office properties, is facing headwinds from higher interest rates, remote work trends, and economic uncertainties, leading to declining valuations, increased vacancies, and potential for higher loan defaults.
• Sustained Net Interest Margin (NIM) compression due to the prolonged higher interest rate environment and intense competition for deposits. The elevated cost of funds, driven by customers seeking higher yields and aggressive deposit competition from larger financial institutions and non-bank alternatives, continues to pressure BCAL's profitability by narrowing the spread between interest earned on assets and interest paid on liabilities.

California BanCorp (symbol: BCAL) operates primarily in the commercial banking sector, offering a range of financial products and services to individuals, professionals, and small to medium-sized businesses in California. Their services include commercial lending, deposit gathering, and a comprehensive suite of banking products, with a significant portion of their loan portfolio (79% as of September 30, 2025) in real estate secured credit, including construction and commercial real estate loans.

Addressable Market Sizes in California:

• Commercial Banking: The market size for the Commercial Banking industry in California is projected to be $125.7 billion in 2025.
• Real Estate Loans & Collateralized Debt (including Commercial Real Estate Lending): The market size for the Real Estate Loans & Collateralized Debt industry in California is estimated to be $62.3 billion in 2025.
• SBA Loans: In Fiscal Year 2024, the total loan volume for SBA loans in California was $4.15 billion, funding 7,658 businesses. Additionally, in 2021, reporting banks issued $45.6 billion in new lending to California businesses through loans of $1 million or less.

California BanCorp (symbol: BCAL) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Expanded Market Presence and Scale through Merger: The merger between Southern California Bancorp and the predecessor California BanCorp, which closed on July 31, 2024, significantly expanded the company's geographic footprint across Northern and Southern California. This expansion provides a larger market for its commercial banking services and opportunities to achieve greater scale and efficiency. The company aims to leverage this expanded branch network and complementary business models to increase market share in these regions.
2. Growth in Deposits and Loan Originations: California BanCorp consistently highlights its focus on attracting new deposits and originating new loans, which directly drives interest income, a primary component of bank revenue. The company reported strong deposit growth of $147.4 million and loan originations of $158.4 million in the third quarter of 2025. Management is focused on the "prudent growth of our franchise" through high-quality customer service to middle-market businesses.
3. Relationship-Driven Business Banking Model: The company emphasizes its strategic focus on a relationship-driven business banking model. This approach is expected to foster deeper client relationships, leading to increased customer loyalty, cross-selling opportunities for various financial products and services, and organic growth within its existing and expanded client base.
4. Operational Efficiencies and Synergies from Merger: Beyond market expansion, the merger is anticipated to generate operational efficiencies and cost savings. This scalable business model is expected to bring cost savings and greater efficiency to operations. While not direct revenue generation, improved efficiency and cost management contribute to stronger profitability, freeing up resources that can be strategically reinvested to support further revenue-generating activities and overall growth.

Share Repurchases

• California BanCorp's Board of Directors authorized an increase in its share repurchase program to 1.6 million shares, up from 550,000 shares, on May 1, 2025. This represents approximately 4.9% of the company's outstanding shares.
• In the third quarter of 2025, the company repurchased 89,500 shares of common stock for $1.4 million at an average price of $15.22 per share.
• As of September 30, 2025, a maximum of 1,510,500 shares remained authorized for repurchase under the program.

Share Issuance

• California BanCorp (formerly Southern California Bancorp) completed a merger of equals with the former California BanCorp (CALB) on July 31, 2024.
• As part of the merger, 13,620,214 shares of BCAL common stock were issued to former CALB shareholders.
• The fair value of common shares issued and exchanged as part of the purchase consideration for the merger was $213.944 million.

Outbound Investments

• California BanCorp makes investments in restricted stock, other bank stock, and other equity investments in technology venture capital funds focused on fintech and community banking.
• There was a decrease of $85.8 million in restricted stocks and other equity purchases for the nine months ended September 30, 2025, compared to the same period in 2024.