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

• It's like a Southern California version of Wells Fargo.
• Think of it as a local Bank of America for Southern California communities and businesses.

Deposit Products

• Checking Accounts: Accounts designed for day-to-day transactions and payments.
• Savings Accounts: Accounts for individuals and businesses to save money and earn interest.
• Money Market Accounts: Interest-bearing accounts that typically offer higher rates than savings accounts with check-writing privileges.
• Certificates of Deposit (CDs): Time deposits that earn a fixed interest rate for a specified period.

Lending Products

• Home Equity Lines of Credit (HELOCs): Revolving lines of credit secured by a borrower's home equity.
• Business Loans and Lines of Credit: Financing options for businesses to fund operations, expansion, or working capital needs.
• Commercial Real Estate and Construction Loans: Loans specifically for the acquisition, development, or construction of commercial properties.
• Small Business Administration (SBA) Loans: Government-backed loans designed to support small businesses.
• Letters of Credit: Financial instruments guaranteeing payment to a seller, often used in commercial transactions.
• Credit Cards: Personal and business cards for making purchases and accessing revolving credit.

Business Banking Services

• Cash Vault Services: Secure handling and processing of cash deposits for businesses.
• Sweep Accounts: Accounts that automatically transfer excess funds into an interest-bearing investment or to cover shortfalls.
• Remote Deposit Capture: Technology allowing businesses to deposit checks electronically from their own location.
• Lockbox Services: Services where customer payments are sent directly to a bank-managed post office box, speeding up collection.
• Merchant Services: Solutions for businesses to process credit and debit card payments from customers.
• Courier Service: Physical transport of banking documents or deposits for business clients.

Digital Banking

• Online and Mobile Banking: Electronic platforms for customers to manage their accounts, pay bills, and conduct other banking transactions remotely.

California BanCorp (BCAL) serves the following major customer categories:

• Individuals
• Professionals
• Small-to medium-sized businesses

David Rainer, Executive Chairman & CEO

David Rainer was appointed Chief Executive Officer of California BanCorp, in addition to serving as Chairman, effective December 31, 2025. Prior to the merger that formed California BanCorp, Mr. Rainer served as Chairman and Chief Executive Officer of Southern California Bancorp and Bank of Southern California, N.A. since September 2022. His contract as Chairman and CEO has been extended until March 1, 2029.

Thomas Dolan, Executive Vice President & CFO, Chief Strategy Officer

Thomas Dolan serves as Executive Vice President and Chief Financial Officer of California BanCorp and Chief Strategy Officer of California Bank of Commerce, N.A. He possesses 40 years of experience in strategic and operational leadership within growth-oriented financial institutions. Mr. Dolan held senior roles at the predecessor Southern California Bancorp since 2020, including Chief Financial Officer and later Chief Operating Officer. He also served as Executive Vice President & Chief Financial Officer at Los Alamos National Bank from 2017 to 2020, and as Executive Vice President & Chief Operating Officer at Anchor Bancorp Wisconsin/Old National Bank from 2011 to 2016. He led finance and strategy through growth and merger integration with California BanCorp while at Southern California Bancorp.

Richard Hernandez, President

Richard Hernandez is the President of California BanCorp and California Bank of Commerce, N.A., bringing more than 25 years of industry experience to the California market.

Michele Wirfel, Executive Vice President & COO

Michele Wirfel serves as the Chief Operating Officer of California BanCorp.

Joann Yeung, Executive Vice President & Principal Accounting Officer

Joann Yeung is the Executive Vice President and Principal Accounting Officer of California BanCorp and Chief Accounting Officer of California Bank of Commerce, N.A.

Here are the key risks to California BanCorp (symbol: BCAL):

1. Interest Rate and Liquidity Risk: California BanCorp, like other financial institutions, is significantly exposed to fluctuations in interest rates, which can impact its earnings and the fair value of its assets. Changes in interest rates can lead to unrealized losses on investments and affect the bank's net interest margin. Furthermore, the banking industry faces elevated liquidity risk, partly due to evolving depositor behavior. Banks with a substantial portion of uninsured deposits are particularly vulnerable to rapid withdrawals, which could trigger solvency issues if not managed effectively.
2. Commercial Real Estate (CRE) Concentration Risk: A significant portion of California BanCorp's loan portfolio is concentrated in commercial real estate (CRE). This heavy weighting makes the company particularly susceptible to downturns or fluctuations in the commercial real estate market, especially within California where its operations are concentrated. A decline in real estate values could adversely affect the collateral supporting these loans, potentially leading to increased loan losses.
3. Credit Risk and Loan Portfolio Quality: The bank faces inherent credit risk within its overall loan portfolio, which includes commercial and industrial (C&I) lending in addition to commercial real estate. While credit quality may appear strong, industry trends indicate increased risk in loan portfolios due to eased underwriting standards and risk layering. California BanCorp's 10-K reports detail credit risk assessments and track loan restructurings, which could signal borrower distress and negatively impact future earnings and asset quality metrics.

Clear emerging threats for California BanCorp (BCAL) include the increasing competition from digital-native challenger banks and financial technology (fintech) companies that offer streamlined, often lower-cost, and digitally superior banking experiences without the overhead of physical branches. Additionally, the expansion of major technology companies ("Big Tech") into financial services, leveraging their extensive user bases and platforms for payments, lending, and other financial products, presents a significant threat by disintermediating traditional banking services.

The addressable markets for California BanCorp's main products and services, within its operating region of San Diego, Orange, Ventura, Los Angeles, and Riverside counties, as well as the Inland Empire, are identified below:

• Home Equity Lines of Credit and Home Equity Loans: The tappable home equity in Los Angeles, Orange, Riverside, San Bernardino, and San Diego counties was $1.645 trillion as of June 2025. This represents a significant potential market for home equity products within the Southern California region.
• Commercial Real Estate and Construction Loans: The market size of the Real Estate Loans and Collateralized Debt industry in California is projected to be $62.3 billion in 2026. This figure encompasses the broader California market, as more granular data for the specific Southern California counties was not available.
• Small Business Administration (SBA) Loans: In Orange County, the total dollar volume for SBA lending in 2024 was $265.3 million. For San Diego County, approximately $90.60 per resident in 7(a) SBA loans was approved in 2023. These provide insights into the annual volume within specific parts of the company's operating region.
• Personal Loans: The outstanding personal loan debt in California is approximately $30 billion, with Los Angeles, Orange County, and San Diego accounting for nearly half of these loans. This suggests an addressable market of roughly $15 billion for personal loans in these Southern California counties.
• Deposits (Checking, Savings, Money Market Accounts, Certificates of Deposit), Business Loans and Lines of Credit (General), and Personal and Business Credit Cards: null

California BanCorp (NASDAQ: BCAL) is expected to drive future revenue growth over the next two to three years through several key strategies and market dynamics:

1. Expanded Market Footprint and Cross-Selling Opportunities from Merger: The all-stock merger completed on July 31, 2024, between Southern California Bancorp (the former name of the current California BanCorp) and the predecessor California BanCorp significantly expanded the company's geographic reach into Northern California, including the Bay Area and Sacramento metropolitan statistical areas. This expansion offers increased opportunities for growth in various lending verticals, broader product offerings, and higher lending limits to an expanded client base.
2. Organic Growth in Loans and Deposits through Relationship-Based Banking: California BanCorp is focused on driving organic growth in both loans and deposits by leveraging its relationship-based business model across its expanded markets. The company aims to attract full banking relationships with commercial clients, providing operating deposit accounts and high-quality lending opportunities. This strategy is supported by the active recruitment of experienced commercial bankers, particularly in Northern California.
3. Increased Noninterest Income: The company has demonstrated a focus on growing its noninterest income. This was evident in 2025, with a notable increase attributed to factors such as income from bank-owned life insurance (BOLI), various fees, and other equity income. Continued diversification of revenue streams beyond traditional interest income is expected to contribute to future growth.
4. Strategic Market Penetration in Under-banked Regions: California BanCorp operates in a large and attractive banking market within California, particularly targeting small to medium-sized businesses. The perceived scarcity of community banks in these regions presents a substantial opportunity for California BanCorp to capture market share and deepen its penetration, further supporting revenue growth.
5. Favorable Net Interest Margin Expansion: The company has shown an ability to improve its net interest margin, with a reported increase from 4.28% in 2024 to 4.55% in 2025. This improvement is partly due to the company's strategy of restructuring its balance sheet, reducing reliance on high-cost brokered deposits, and growing core deposits, which has helped lower its cost of funds. Continued prudent balance sheet management and a potentially favorable interest rate environment could further support net interest income growth.

Share Repurchases

• In May 2025, California BanCorp increased its authorized share repurchase program to 1.6 million shares from 550,000 shares, representing approximately 4.9% of its outstanding common stock.
• As of May 2, 2025, the company had not yet purchased any shares under this increased program.
• The company repurchased 122,428 shares at an average price of $16.37 in the fourth quarter of 2025.

Share Issuance

• California BanCorp's outstanding shares increased significantly in 2024 due to an all-stock merger with California BanCorp (CALB) on July 31, 2024.
• Outstanding shares increased by 75.45% from 18.38 million in 2023 to 32.25 million in 2024.

Outbound Investments

• California BanCorp completed an all-stock merger with California BanCorp (CALB) on July 31, 2024.
• The merger involved a total consideration of $216.6 million, which generated $73.1 million of goodwill.
• This strategic investment expanded the company's franchise into Northern California, adding branches and offices.

Capital Expenditures

• Net cash provided by investing activities was $524.7 million for the year ended December 31, 2024, a notable increase from net cash used in investing activities of $78.9 million in 2023.
• The substantial increase in cash from investing activities in 2024 was primarily due to the cash acquired of $336.3 million from the merger.