California BanCorp (NASDAQ: BCAL) announced net income of $16.9 million, or $0.52 per diluted share, for the first quarter of 2025. This represents a substantial increase from $4.9 million, or $0.26 per diluted share, in the same period of 2024.
Net interest income for Q1 2025 was $42.3 million, significantly higher than $20.5 million in Q1 2024, driven by the expanded asset base from the merger. The net interest margin further improved to 4.65% from 4.61% in the preceding fourth quarter of 2024.
Total noninterest expense decreased sequentially to $24.9 million, contributing to an improved efficiency ratio of 55.60% from 57.40% in Q4 2024. Total assets stood at $3.98 billion at March 31, 2025, a decrease of $48.6 million from December 31, 2024, primarily due to a reduction in loans and wholesale funding sources.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.