California Bancorp Q4 net income rises on lower costs, improved credit profile
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California Bancorp reported a Q4 net income of $16.4 million, up from $15.7 million in Q3, despite a decrease in net interest margin to 4.44%. The company repurchased 122,428 shares for $2 million and aims for organic growth through a relationship-based model. Successful merger integration and a credit loss reversal of $4.4 million contributed to the positive results. Analysts maintain a "buy" rating, with a median 12-month price target of $21.00, reflecting a 13.9% upside from the recent trading price of $18.43.
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