California Bancorp Q1 profit falls, net interest margin rises

California Bancorp

28/04/2026 13:10

Overview

U.S. regional bank's Q1 net income and EPS declined from prior quarter and yr-ago period

Net interest margin rose to 4.47% from 4.44% in prior quarter

Company repurchased $7.4 mln in shares under its stock buyback program

Outlook

Company did not provide specific guidance for the current quarter or full year

Result Drivers

LOWER INTEREST INCOME - Net interest income declined due to lower interest and dividend income from loans and deposits in other financial institutions, and fewer days in the quarter

CREDIT LOSS PROVISION - Smaller reversal of provision for credit losses contributed less to net income compared to prior quarter, reflecting changes in economic outlook and portfolio mix

NONINTEREST INCOME DROP - Noninterest income fell mainly due to lower income from equity investments

Company press release: ID:nGNX3CgHjJ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.42
Q1 Net Income
$13.79 mln
Q1 Net Interest Income
$42.08 mln
Q1 Net Interest Margin
4.47%


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)