0001795815-26-000015
SEC filingQ1 profitability declined 18% YoY to $13.8M due to smaller credit loss reversals, offset partially by interest expense reductions and non-recurring litigation settlement decreases, while cash generation strengthened to $8.3M free cash flow amid deposit inflows.
Southern California Bancorp reported Q1 2026 net income of $13.8 million, down 18.2% from $16.9 million in the prior year quarter, with diluted EPS of $0.42 versus $0.52. This decline reflects reduced reversals of provision for credit losses compared to the prior period, a key dynamic pressuring profitability despite operational efficiencies.
Management affirms that as of March 31, 2026, the Company and Bank met all capital adequacy requirements. Ongoing monitoring of tech sector challenges, economic uncertainty, and Middle East conflicts informs a prudent approach to risk, ensuring capital and liquidity support strategic initiatives in this environment.