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.
Southern California Bancorp (OTC Pink: BCAL) reported strong financial results for 2021, reflecting significant growth driven by the acquisition of Bank of Santa Clarita. In Q4, non-PPP organic loan growth reached $154 million (up 14.7%), while total non-PPP loans increased by 37.6% to $1.45 billion.
Full-year net income hit a record $10.7 million, a 126.8% increase from 2020. Total assets rose to $2.26 billion (up 43.1%), with deposits reaching $1.97 billion (up 65.1%). The company's capital position remains strong, classified as 'well-capitalized' with minimal nonperforming assets.
Southern California Bancorp (OTC Pink: BCAL) announced that its executive team, including David Rainer and Thomas Dolan, will participate in the D.A. Davidson Financial Institutions Group Bison Select Conference on December 9, 2021. This event provides an opportunity for the management to engage with investors and share insights about the company's performance and strategy. The investor presentation will be accessible on the company’s website for those interested in more details.
Southern California Bancorp (OTC Pink: BCAL) reported a 45.9% increase in net income for Q3 2021, reaching $3.5 million. Net organic loans rose 11.8% to $1.1 billion. Total assets grew to $1.8 billion, with deposits at $1.6 billion. The bank successfully completed the acquisition of Bank of Santa Clarita and opened new branches in Los Angeles County, enhancing its market presence. Despite a slight decline in net interest margin to 3.67%, the bank remains well-capitalized and managed to maintain low nonperforming assets at 0.04% of total assets.
Southern California Bancorp announced the completion of its acquisition of Bank of Santa Clarita effective October 1, 2021. The merger creates a combined entity with $2.2 billion in assets, bolstering its presence in the Northern Los Angeles County market. The acquisition is expected to enhance earnings for both 2021 and 2022. Shareholders of Bank of Santa Clarita will receive approximately $64.6 million in stock, representing 23% of the new entity. Notably, Frank Di Tomaso will join the board, bringing over 40 years of banking experience.
Bank of Southern California (OTC Pink: BCAL) has appointed Nicole Swain as Executive Vice President and President of Private Banking. Swain, with over 30 years of experience, previously served as Chief Banking Officer at First Choice Bank, where she helped grow assets from approximately $380 million to over $2 billion. Her role will focus on developing high net worth banking relationships and leading the new Private Banking Group. This strategic appointment aims to enhance the bank's presence and service offerings across Southern California.
Bank of Southern California (OTC Pink: BCAL) announced the appointment of Ross Macdonald as Senior Vice President, Commercial Lending Regional Manager in Orange County. Based in Irvine, Macdonald brings 17 years of banking experience, mostly in commercial banking, where he previously led a team focused on middle-market companies. His educational background includes a bachelor's degree from UCLA and an MBA from Pepperdine University. The bank aims to leverage his expertise to enhance its client base in the region.
Bank of Southern California (OTC Pink: BCAL) has announced the opening of a new full-service branch in Westlake Village, Ventura County, aimed at meeting the growing demand for banking services in the area. The branch, located at 875 S. Westlake Blvd., is managed by Bill Sloan, with Shelley Gibson and Daniel Quick serving as Senior Vice Presidents and Relationship Managers. The expansion is intended to enhance the bank's presence and serve businesses in Ventura County that are currently underserved by larger banks.
Bank of Southern California (OTC Pink: BCAL) announces the appointment of Elizabeth Swift as Senior Vice President, Commercial Real Estate Lender. Based in San Diego, she will manage a portfolio as part of the commercial banking team. With over 15 years of experience, Swift previously served as Vice President at Bank of Marin. Her academic credentials include a bachelor’s degree from the University of Virginia and a master’s and Ph.D. from the University of New Mexico. This hire aims to enhance the bank's growth and service delivery in the San Diego region.
Southern California Bancorp (OTC Pink: BCAL) announced management participation in the KBW Community Bank Investor Conference on August 4-5, 2021. Key figures, David Rainer (Chairman, President, CEO) and Thomas Dolan (EVP, CFO), will represent the company. The corporate investor presentation will be accessible on the Company's website at banksocal.com. Established in 2001, the Bank of Southern California offers diverse financial solutions, emphasizing a relationship-based approach. It operates branches across multiple California counties.
FAQ
What is the current stock price of California BanCorp (BCAL)?
What is the market cap of California BanCorp (BCAL)?
What services does Southern California Bancorp provide?
What is the primary focus of Southern California Bancorp?
What are some of the recent achievements of Southern California Bancorp?
Who does Southern California Bancorp cater to?
How does Southern California Bancorp contribute to the local economy?
Where is Southern California Bancorp headquartered?
What sets Southern California Bancorp apart from other financial institutions?
How can one get in touch with Investor Relations at Southern California Bancorp?
What is the key focus of Southern California Bancorp's operations?
How does Southern California Bancorp support the growth of small and medium-sized businesses?
