Bank of Southern California Unveils Expansion Efforts

Rhea-AI Summary

Bank of Southern California (OTC Pink: BCAL) has announced plans to expand with five new full-service branches in Southern California by the end of Q1 2021. These branches will be located in Los Angeles and San Diego counties, targeting individuals and small-to-medium-sized businesses. The bank will introduce temporary office locations early next year and permanent branches later in Q1 2021 in markets such as Encino, Santa Clarita, Westlake, West Los Angeles, and La Jolla. To support this expansion, the bank will hire experienced commercial bankers.

Positive

• Plans to open five new branches in key Southern California markets.
• Targeting the needs of individuals and small-to-medium sized businesses.
• Recruitment of experienced commercial bankers to enhance service.

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• None.

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce plans to expand throughout Southern California with the addition of five full-service branches by the end of first quarter 2021. The new offices will be strategically located within Los Angeles County and San Diego County to better serve the banking needs of individuals, professionals, and small-to-medium sized businesses within the region.

Bank of Southern California will begin its expansion plans with the unveiling of temporary office locations in the majority of these markets early next year. The company anticipates opening permanent locations in late first quarter 2021. The Bank’s newest markets will include Encino, Santa Clarita, Westlake, West Los Angeles, and La Jolla.

To support the company’s expansion efforts, plans are underway to recruit senior in-market commercial bankers. Highly experienced Relationship Managers, Portfolio Managers, and Business Banking Sales Support Officers, that both work and live in their respective Southern California communities will be selected to lead and grow these new branch locations.

“By aggressively growing and enhancing our footprint we will be able to better serve the banking needs of Southern California residents and businesses,” said Nathan Rogge, President and CEO of Bank of Southern California. “We look forward to expanding the company and welcoming new employees and customers to Bank of Southern California,” added Rogge.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank’s solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates branches in San Diego County, Los Angeles County, Orange County, San Bernardino County, and the Coachella Valley in Riverside County. For more information, please visit https://www.banksocal.com or call 844.BNK.SOCAL.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201221005002/en/

FAQ

What is the expansion plan of BCAL in Southern California?

BCAL plans to open five new full-service branches in Southern California by the end of Q1 2021.

Where will the new branches of BCAL be located?

The new branches will be located in Encino, Santa Clarita, Westlake, West Los Angeles, and La Jolla.

When does BCAL plan to open its new branches?

BCAL anticipates unveiling temporary offices early next year and permanent locations by the end of Q1 2021.

What type of banking services will BCAL offer in new branches?

BCAL will serve individuals, professionals, and small-to-medium sized businesses with a range of financial products.

How will BCAL support its branch expansion?

BCAL plans to recruit senior commercial bankers to lead and grow the new branch locations.