Capital allocation remains focused on liquidity management, evidenced by a $73.3 million investment in securities during 2026Q1 to offset fluctuating organic capital generation.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Cash from Operations | 58.84M | 57.29M | 50.29M | 33.1M | 13.35M | 19.65M | 12.36M | 8.37M | 7.43M | 3.73M | 3.95M | 1.76M | 1.53M | 561.49K | 1.19M | 1.97M | 591.41K | -990.37K | -470.27K | 4.24M | -926K | -198.69K |
| Operating CF Growth % | 4241.7% | 13.91% | 51.93% | 147.92% | -32.06% | 59.01% | 47.58% | 12.72% | 99.3% | -5.62% | 124.14% | 15.17% | 172.52% | -52.94% | -39.59% | 233.91% | 159.72% | -110.59% | -111.08% | 558.2% | -366.05% | - |
| Net Income | 60M | 63.06M | 5.43M | 25.91M | 16.11M | 10.71M | 4.72M | 6.77M | 5.26M | 3.96M | 3.01M | 1.91M | 4.07M | 1.23M | 1.14M | 1.06M | -678.5K | -967.66K | -5.79M | -268.67K | -1.59M | -523.67K |
| Depreciation & Amortization | 5.29M | 5.62M | 3.64M | 1.92M | 2M | 1.72M | 1.45M | 1.28M | 793.4K | 442.36K | 473.41K | 483.82K | 371.38K | 396.84K | 467.82K | 469.27K | 245.61K | 272.63K | 340.77K | 167.19K | 140.55K | 134.79K |
| Deferred Taxes | 9.68M | 11.48M | -426K | 418K | -2.55M | 137K | -2.09M | -162K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -28.04M | -32.98M | 14.7M | 2.13M | -3.84M | -6.85M | 4.84M | 11.32K | 268.26K | -1.04M | 102.42K | 95.01K | -3.32M | -900.15K | -324.49K | 265.71K | 973.45K | 143.46K | 5.09M | 5.55M | 605.29K | 199.49K |
| Working Capital Changes | 6.21M | 4.29M | 20.71M | -1.79M | -2.05M | 8.44M | 782K | -127.96K | 1.11M | 355.81K | 364.81K | -728.83K | 407.29K | -163.71K | -88.55K | 179.87K | 50.85K | -438.81K | -106.1K | -1.2M | -82K | -9.29K |
| Cash from Investing | -80.04M | 29.75M | 524.65M | -78.93M | -512.7M | 8.52M | -301.69M | -34.73M | -38.45M | -83.18M | -46.87M | -54.18M | 19.02M | -8M | -3.05M | 698.3K | -26.78M | -2.44M | -31.35M | -13.15M | -10.45M | -6.41M |
| Purchase of Investments | -196.37M | -123.04M | -8.74M | -67.69M | -160.37M | -28.37M | -14.37M | -14.4K | -1.66M | -18.99M | -363.45K | -1.01M | -610.99K | -19.3K | 0 | -7.92M | -7.27M | -9.57M | -17.53M | -8.95M | -6.75M | -93K |
| Sale/Maturity of Investments | 31.36M | 38.4M | 30.93M | 48.35M | 33.71M | 8.44M | 14.8M | 9.27M | 2.26M | 1.85M | 2.34M | 2.4M | 6.71M | 3.87M | 6.08M | 2.03M | 4.3M | 12.48M | 5.64M | 14.75M | 214.15K | 210.23K |
| Net Investment Activity | -165.01M | -84.65M | 22.19M | -19.34M | -126.66M | -19.93M | 427K | 9.26M | 599.35K | -17.14M | 1.98M | 1.39M | 6.1M | 3.85M | 6.08M | -5.89M | -2.96M | 2.91M | -11.89M | 5.81M | -6.53M | 117.23K |
| Acquisitions | 0 | 0 | 336.3M | 0 | 0 | 33.95M | 36.97M | 0 | -20.57M | 0 | 0 | 0 | 26.54M | 0 | 0 | 0 | 3.75M | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 85.45M | 114.75M | 166.72M | -59.28M | -384.96M | -3.75M | -337.32M | -42.78M | -17.83M | -65.34M | -44.55M | -54.97M | -13.52M | -9.97M | -8.62M | 6.73M | -27.15M | -5.32M | -19.19M | -18.31M | -3.89M | -6.22M |
| Cash from Financing | -6.9M | -75.29M | -273.58M | 45.86M | 6.1M | 301.01M | 449.3M | 50.53M | 57.81M | 50.76M | 75.64M | 25.25M | 15.09M | 11.7M | -14.6K | 6.78M | 23.14M | 14.3M | 30.44M | 7.52M | 17.72M | 9.79M |
| Dividends Paid | -6.5M | -3.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -222.14K | -222.14K | -214.8K | -71.99K | 0 | 0 | 0 | 0 |
| Share Repurchases | -6.3M | -6.03M | -1.97M | -889K | -574K | -3.67M | 0 | 0 | 0 | 0 | -2.76M | 0 | 0 | 0 | -1.2M | 0 | -739 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | -7.18M | 132K | 0 | 0 | 0 | 0 | 40.63M | 11.44M | 25.14M | 801.19K | 6.62M | 1.89M | 4.97M | 0 | 0 | 3.08M | 0 | 4.19M | 10K | 10K | 18.05M | 1K |
| Net Stock Activity | -13.48M | -5.9M | -1.97M | -889K | -574K | -3.67M | 40.63M | 11.44M | 25.14M | 801.19K | 3.86M | 1.89M | 4.97M | 0 | -1.2M | 3.08M | -739 | 4.19M | 10K | 10K | 18.05M | 1K |
| Debt Issuance (Net) | -2M | -1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 0 | 0 | -1000K | 0 | -1000K | 1000K | 0 | 0 | -690K |
| Other Financing | 51.08M | -28.14M | -186.61M | 11.75M | -40.23M | 518.62M | 282.19M | 44.1M | 17.67M | 29.96M | 79.28M | 15.86M | 25.28M | 11.7M | 1.41M | 6.93M | 23.36M | 13.18M | 23.43M | 7.51M | -321K | 10.48M |
| Net Change in Cash | -28.1M | 11.75M | 301.37M | 33K | -493.25M | 329.19M | 159.97M | 24.18M | 26.79M | -28.69M | 32.72M | -27.17M | 35.64M | 4.26M | -1.87M | 9.46M | -3.04M | 10.87M | -1.37M | -1.39M | 6.35M | 3.18M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 399.91M | 388.16M | 86.79M | 86.76M | 580.01M | 250.82M | 90.85M | 66.67M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.12M | 940.74K |
| Cash at End | 411.14M | 399.91M | 388.16M | 86.79M | 86.76M | 580.01M | 250.82M | 90.85M | 26.79M | -28.69M | 32.72M | -27.17M | 35.64M | 4.26M | -1.87M | 9.46M | -3.04M | 10.87M | -1.37M | -1.39M | 10.47M | 4.12M |
| Interest Paid | 41.52M | 58.48M | 52.09M | 29.03M | 5.55M | 3.59M | 5.71M | 6.97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 9.78M | 9.78M | 4.77M | 12.37M | 7.95M | 1.03M | 5.51M | 3.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 58.36M | 56.94M | 49.74M | 32.8M | 12.27M | 17.9M | 10.59M | 7.17M | 6.78M | 3.03M | -350.65K | 1.48M | 1.43M | -1.31M | 677.57K | 1.83M | 180.81K | -1.03M | -734.97K | 3.6M | -950K | -510.38K |
| FCF Growth % | 19.96% | 14.48% | 51.65% | 167.3% | -31.44% | 68.99% | 47.81% | 5.76% | 123.4% | 964.95% | -123.67% | 3.43% | 209.08% | -293.8% | -62.95% | 911.36% | 117.61% | -39.71% | -120.41% | 478.98% | -86.13% | - |
California CRE concentration risk
According to reported quarterly filings, BCAL's net income has shown significant volatility, with a peak of $16.9M in 2025Q1, suggesting that the bank's ability to generate organic capital is currently constrained by fluctuating earnings and the ongoing costs associated with its recent merger-driven expansion strategy.
The bank's inconsistent net income performance complicates the assessment of its long-term capital generation capacity. Investors should monitor whether the current earnings trajectory can sufficiently support the regulatory capital buffers required for a statewide commercial banking platform.
Based on the provided cash flow data, BCAL has engaged in periodic large-scale securities purchases, such as the $73.3M outflow in 2026Q1, which indicates that the bank is actively managing its investment portfolio to balance liquidity needs against the prevailing interest rate environment in California.
The frequent rotation between securities purchases and sales suggests a tactical approach to managing the balance sheet rather than a passive hold-to-maturity strategy. This activity warrants further investigation to determine if these shifts are intended to optimize yield or provide necessary liquidity for loan originations.
As reported in financial statements, BCAL has maintained a modest capital return profile, with dividend payments totaling $3.2M in 2026Q1 and consistent, albeit small, share buybacks, suggesting that management prioritizes capital retention for growth over aggressive distributions to shareholders in the current economic cycle.
The limited scale of buybacks and dividends appears consistent with a bank focused on integrating recent acquisitions and preserving capital. This conservative stance may be prudent given the potential for credit stress within the bank's concentrated commercial real estate and construction loan portfolios.
Based on the bank's reported figures, the provision for loan losses has exhibited extreme variance, including a $23M charge in 2024Q3, which indicates that the bank is proactively adjusting its reserves to account for potential credit deterioration within its regional commercial and industrial loan book.
The lack of stability in provisioning suggests that the bank's credit risk profile is highly sensitive to the underlying economic conditions in Southern California. Analysts should interpret these swings as a reflection of management's evolving assessment of borrower health rather than a static indicator of credit quality.
Quick answers to the most common questions about buying BCAL stock.
Southern California Bancorp (BCAL) generated $57.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Southern California Bancorp (BCAL) generated $56.9M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Southern California Bancorp (BCAL) spent $0.3M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Southern California Bancorp (BCAL) returned $3.3M to shareholders via cash dividends and spent $6.0M on share repurchases. This shows the company's commitment to returning capital to its equity investors.