Domo signs strategic collaboration agreement with AWS for AI solutions
California BanCorp (NASDAQ:BCAL) announced that Richard Martin resigned from its Board of Directors and from the board of its wholly-owned subsidiary, California Bank of Commerce, N.A., on August 20. According to the company’s statement, Martin’s resignation was not due to any disagreement with the company regarding its operations, policies, or practices.
Following Martin’s departure, the size of the company’s board was reduced from twelve to eleven members, effective immediately.
This information is based on a statement filed with the Securities and Exchange Commission.
In other recent news, Southern California Bancorp reported its second-quarter operating earnings per share of $0.41. This result was in line with expectations from analysts and exceeded Stephens’ forecast by $0.02. The company has made notable strides in its balance sheet repositioning following the CALB merger, significantly reducing sponsor loans and brokered deposits. DA Davidson has reiterated its Buy rating with a $19.00 price target, highlighting the bank’s ongoing loan portfolio derisking efforts. These efforts contributed to the bank matching DA Davidson’s earnings estimate of $0.43 per share. Meanwhile, Stephens has raised its price target for Southern California Bancorp to $19.00, maintaining an Equal Weight rating. These developments indicate positive analyst sentiment towards the bank’s recent performance and strategic initiatives.
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