Welcome to our dedicated page for Southern California Bancorp news (Ticker: $BCAL), a resource for investors and traders seeking the latest updates and insights on Southern California Bancorp stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Southern California Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Southern California Bancorp's position in the market.
Southern California Bancorp reported net income of $4.9 million for Q1 2024, a slight increase from the previous quarter, despite $547 thousand in after-tax merger expenses. The company is optimistic about the planned merger with California BanCorp, expecting increased efficiencies and cost savings. Loans decreased, emphasizing credit quality and expense management. Financial highlights include a net interest margin of 3.80%, $2.29 billion in total assets, and a tangible book value per common share of $13.69. While the efficiency ratio improved, non-performing assets increased to 0.84% of total assets, impacting the balance sheet. With capital exceeding regulatory minimums, the company is positioned for future growth.