Welcome to our dedicated page for California BanCorp news (Ticker: BCAL), a resource for investors and traders seeking the latest updates and insights on California BanCorp stock.
Southern California Bancorp is dedicated to meeting the banking needs of Southern California communities, offering a wide range of financial services to individuals, professionals, and small to medium-sized businesses. With a focus on deposit accounts, financial products, and services, the company plays a vital role in the local economy.
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Southern California Bancorp and California BanCorp have announced a definitive merger agreement valued at approximately $233.6 million, creating a premier California financial institution with $4.6 billion in assets. The merger is an all-stock transaction, with each outstanding share of California BanCorp common stock being exchanged for 1.590 shares of Southern California Bancorp common stock. The companies will evaluate rebranding with new names and logos for the combined company and bank. The transaction is expected to close in the third quarter of 2024, subject to satisfaction of customary closing conditions.
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Southern California Bancorp (BCAL) announced the retirement of Chairman Emeritus and Director John Farkash due to health reasons. Mr. Farkash was a Founding Director of the Company in 2002 and served as its chairman for nearly 20 years. During his tenure, the company grew from a few million to $1.6 billion in assets. In addition to his role in building Southern California Bancorp and Bank of Southern California, Mr. Farkash is the Founder and President of Farkash Construction, Inc.
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Bank of Southern California, N.A. (BCAL) has been named one of American Banker’s 2023 Best Banks to Work For, based on employee surveys. This is the first year the bank has received this honor, making it one of only four Southern California banks and 90 banks nationwide to be recognized. The bank's Chairman and CEO, David Rainer, expressed pride in the employee-friendly culture and dedicated team that contributed to this achievement.
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Southern California Bancorp reports net income of $6.6 million for Q3 2023, compared to $6.9 million in Q3 2022. Net interest income of $71.6 million and net income of $21.5 million year-to-date. Return on average assets of 1.12% and net interest margin of 4.23%. Tangible book value per share increased to $13.08. Loan portfolio grew by $20.9 million. Nonperforming assets to total assets ratio increased to 0.62%. Total assets of $2.31 billion. Total loans of $1.94 billion. Total deposits of $1.98 billion. Noninterest-bearing demand deposits were $736.0 million.
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Bank of Southern California, N.A. appoints David Rouhafza as EVP and West LA Regional Manager
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FAQ
What is the current stock price of California BanCorp (BCAL)?
The current stock price of California BanCorp (BCAL) is $16.74 as of December 20, 2024.
What is the market cap of California BanCorp (BCAL)?
The market cap of California BanCorp (BCAL) is approximately 527.8M.
What services does Southern California Bancorp provide?
Southern California Bancorp offers a full range of banking services, including deposit accounts, financial products, and services to individuals, professionals, and small to medium-sized businesses.
What is the primary focus of Southern California Bancorp?
The primary focus of Southern California Bancorp is to meet the banking needs of the vibrant Southern California communities.
What are some of the recent achievements of Southern California Bancorp?
Southern California Bancorp has achieved significant milestones in serving the banking needs of local communities and contributing to the regional economy.
Who does Southern California Bancorp cater to?
Southern California Bancorp caters to individuals, professionals, and small to medium-sized businesses in Southern California.
How does Southern California Bancorp contribute to the local economy?
By providing essential banking services and financial products, Southern California Bancorp plays a crucial role in supporting the local economy and business community.
Where is Southern California Bancorp headquartered?
Southern California Bancorp is headquartered in Southern California, serving the vibrant communities of the region.
What sets Southern California Bancorp apart from other financial institutions?
Southern California Bancorp stands out for its commitment to meeting the diverse banking needs of Southern California communities with personalized services and a wide range of financial products.
How can one get in touch with Investor Relations at Southern California Bancorp?
For Investor Relations inquiries, individuals can contact Kevin Mc Cabe at kmccabe@banksocal.com or 818.637.7065.
What is the key focus of Southern California Bancorp's operations?
The key focus of Southern California Bancorp's operations is to provide comprehensive banking services, financial solutions, and support to local residents, professionals, and businesses.
How does Southern California Bancorp support the growth of small and medium-sized businesses?
Southern California Bancorp supports the growth of small and medium-sized businesses by offering tailored financial solutions, deposit accounts, and personalized services to meet their unique needs.
California BanCorp
Nasdaq:BCAL
BCAL Rankings
BCAL Stock Data
527.83M
24.53M
16.49%
62.24%
1.14%
Banks - Regional
National Commercial Banks
United States of America
SAN DIEGO