BCAL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-08

• At its March 18, 2026, meeting, the Federal Open Market Committee maintained the federal funds rate in a target range of 3.50% to 3.75% amid uncertainty related to geopolitical developments in the Middle East, lagged inflation data following recent energy price increases, and mixed labor market indi…

• The Fed also announced it will increase the System Open Market Account holdings of securities through purchases of Treasury bills and, if needed, other Treasury securities with remaining maturities of three years or less to maintain an ample level of reserves. Such purchase program is meant to ensur…

• Since mid‑2025, U.S. trade policy has continued to evolve, including the termination of certain emergency tariffs, the implementation of temporary broad‑based tariffs, and adjustments to sector‑specific duties. In addition, ongoing geopolitical tensions in the Middle East have increased energy price…

• In California, overall consumer prices are predicted to peak around 3.5% to 3.6% in early 2026 with annual average unemployment remaining above 5% and peak at 5.6% in 2026 then fall to 4.8% in 2027, according to the UCLA Anderson Forecast released on March 4, 2026. The forecast estimated California’…

• Moody’s anticipates GDP growth in California to grow to 2.3% in 2026 and to have a slight decrease to 1.5% in 2027. The state has shifted to the position of the world’s fifth-largest economy, following a decline from its previous fourth-place ranking. California’s economy is cooling off, with slower…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• On July 31, 2024, the Company completed its all-stock merger with CALB on the terms set forth in the Agreement and Plan of Merger and Reorganization, dated January 30, 2024, by and between the Company and CALB. At July 31, 2024, CALB had total loans of $1.43 billion, total assets of $1.91 billion, a…

• Under the terms of the Agreement and Plan of Merger and Reorganization, each outstanding share of CALB common stock was exchanged for the right to receive 1.590 shares of the Company’s common stock, resulting in the net issuance of approximately 13,579,454 shares, with cash (without interest) paid i…

• Information - Item 1. Financial Statements of this filing for more information regarding business combinations and related activity.

• The U.S. government shutdown has created uncertainty in the economic landscape, and modest disruptions across certain sectors. The shutdown has delayed some federal services, regulatory activities, and government-related transactions, which may affect overall market sentiment. The duration and ultim…

• The recently passed One Big Beautiful Bill Act includes a broad range of tax reform provisions impacting individuals and businesses, along with substantial cuts to social programs and reduced funding for financial oversight agencies, including the Consumer Financial Protection Bureau. These changes …

Text added vs the prior filing · source: 10-Q · 2026-05-08

• The modeled NII results at March 31, 2026 and December 31, 2025 indicate we would sustain a decrease in NII if interest rates declined due primarily to adjustable-rate loans repricing lower and at a faster pace than the decline in deposit rates. In the current rate environment at March 31, 2026 and …

• The modeled EVE results at March 31, 2026 and December 31, 2025 indicated that we would benefit from an increase in interest rates and would be adversely impacted by a decrease in interest rates. The results of these analyses do not contemplate all of the actions that we may undertake in response to…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• The modeled NII results at September 30, 2025 and December 31, 2024 indicate we would sustain a decrease in NII if interest rates declined due primarily to adjustable-rate loans repricing lower and at a faster pace than the decline in deposit rates. In the current rate environment at September 30, 2…

• our NII results indicated there would be a modest increase in the net interest income in all rates-up scenarios. The changes in NII in a rising rate environment are attributed to the adjustable-rate loans repricing higher, offset by the higher costs associated with increasing deposit costs.

• The modeled EVE results at September 30, 2025 and December 31, 2024 indicate we would benefit from an increase in interest rates and would be adversely impacted by a decrease in interest rates. The results of these analyses do not contemplate all of the actions that we may undertake in response to c…