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California BanCorp operates as the bank holding company for California Bank of Commerce, N.A. that provides various financial products to individuals, professionals, and small- to medium-sized businesses in California, the United States. The company offers checking, savings, and money market accounts; and certificates of deposit. It also provides business loans, including construction and land development loans, commercial and industrial loans, small business administration loans, and consumer loans, as well as commercial real estate (CRE) loans comprising one- to four-family and multifamily residential loans, owner-occupied CRE loans, and non-owner-occupied CRE loans; lines of credit; home equity lines of credit; and letters of credit. In addition, the company offers treasury management; merchant services; escrow and sub-accounting solutions; cash vault, sweep accounts, and remote deposit capture services; online and mobile banking services; and ACH origination, courier, and lockbox processing services. It serves businesses, business owners and their trusts, limited liability corporations, business partnerships, associations, organizations, and governmental authorities, as well as the manufacturing, wholesale distribution, professional services, commercial real estate, healthcare, hospitality, commercial contractor, and non-profit organization sectors. The company was formerly known as Southern California Bancorp and changed its name to California BanCorp in August 2024. California BanCorp was founded in 2001 and is headquartered in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $180M | - | $63M | $57M | 10.9% | 41.0% | 1060.6% |
| 2024 | $128M | - | $5M | $50M | 1.1% | 31.0% | -79.0% |
| 2023 | $98M | - | $26M | $33M | 9.0% | 5.7% | 60.8% |
| 2022 | $92M | - | $16M | $12M | 6.2% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 92.23 | 97.52 | 127.76 | 180.18 |
| Operating Revenue | - | 92.23 | 97.52 | 127.76 | 180.18 |
| Selling General And Administration | - | 38.02 | 40.10 | 51.26 | 63.75 |
| Interest Income | - | 93.58 | 123.52 | 179.80 | 225.98 |
| Interest Expense | - | 5.79 | 29.38 | 56.81 | 56.89 |
| Net Interest Income | - | 87.79 | 94.14 | 122.98 | 169.09 |
| Pretax Income | - | 21.98 | 36.86 | 8.26 | 87.96 |
| Tax Provision | - | 5.87 | 10.95 | 2.83 | 24.90 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.99 | 0 | -5.58 | -0.58 |
| Net Income Continuous Operations | - | 16.11 | 25.91 | 5.43 | 63.06 |
| Net Income From Continuing And Discontinued Operation | - | 16.11 | 25.91 | 5.43 | 63.06 |
| Net Income From Continuing Operation Net Minority Interest | - | 16.11 | 25.91 | 5.43 | 63.06 |
| Net Income | - | 16.11 | 25.91 | 5.43 | 63.06 |
| Net Income Common Stockholders | - | 16.11 | 25.91 | 5.43 | 63.06 |
| Net Income Including Noncontrolling Interests | - | 16.11 | 25.91 | 5.43 | 63.06 |
| Normalized Income | - | 21.59 | 25.91 | 16.16 | 64.52 |
| Diluted NI Availto Com Stockholders | - | 16.11 | 25.91 | 5.43 | 63.06 |
| Basic Average Shares | - | 17.82 | 18.25 | 24.70 | 32.34 |
| Diluted Average Shares | - | 18.23 | 18.66 | 24.70 | 32.75 |
| Reconciled Depreciation | - | 2 | 1.92 | 3.64 | 5.62 |
| Total Unusual Items | - | -7.47 | 0 | -16.31 | -2.04 |
| Total Unusual Items Excluding Goodwill | - | -7.47 | 0 | -16.31 | -2.04 |
| Special Income Charges | - | -7.47 | 0 | -16.31 | -2.04 |
| Gain On Sale Of Business | 0.73 | 0 | - | - | - |
| Other Special Charges | 0 | 6.29 | - | 0.02 | 2.04 |
| Restructuring And Mergern Acquisition | - | 1.18 | 0 | 16.29 | 0 |
| Gain On Sale Of Security | 0.05 | -0.99 | -0.97 | 0 | - |
| Depreciation Amortization Depletion Income Statement | - | 0.44 | 0.39 | 1.88 | 3.79 |
| Depreciation And Amortization In Income Statement | - | 0.44 | 0.39 | 1.88 | 3.79 |
| General And Administrative Expense | - | 38.02 | 40.10 | 51.26 | 63.75 |
| Salaries And Wages | - | 38.02 | 40.10 | 51.26 | 63.75 |
| Selling And Marketing Expense | 0.68 | - | - | - | - |
| Amortization | - | 0.44 | 0.39 | 1.88 | 3.79 |
| Amortization Of Intangibles Income Statement | - | 0.44 | 0.39 | 1.88 | 3.79 |
| Occupancy And Equipment | - | 6.21 | 6.23 | 7.24 | 8.60 |
| Professional Expense And Contract Services Expense | - | 2.60 | 3.21 | 2.56 | 3.65 |
| Other Non Interest Expense | - | 9.56 | 9.82 | 18.57 | 19.22 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| California BanCorpthis co. | BCAL | $621M | 9.84↓ discount | 1.08 | 10.9% | - |
| Heritage Insurance Holdings, Inc. | HRTG | $642M | 3.28 | 1.27 | 38.7% | - |
| Hippo Holdings Inc. | HIPO | $635M | 11.01 | 1.46 | 13.2% | - |
| Hingham Institution for Savings | HIFS | $634M | 11.62 | 1.32 | 11.4% | - |
| Washington Trust Bancorp, Inc. | WASH | $633M |
| - |
| - |
| - |
| - |
| 12.12 |
| 1.17 |
| 9.6% |
| - |
| Carter Bankshares, Inc. | CARE | $631M | 20.12 | 1.50 | 7.5% | - |
| Donegal Group Inc. | DGICA | $619M | 7.81 | 0.97 | 12.4% | - |
| Arrow Financial Corporation | AROW | $610M | 13.88 | 1.41 | 10.2% | - |
| Northpointe Bancshares, Inc. | NPB | $598M | 7.17 | 1.05 | 14.7% | - |
| Peer Median | - | 11.31 | 1.30 | 11.9% | - | |