Southern California Bancorp Announces Appointment of Anne Williams to Boards of Directors

Rhea-AI Summary

Southern California Bancorp (OTC Pink: BCAL) has appointed Anne Williams to its Board of Directors and as a director of its subsidiary, Bank of Southern California, N.A., effective February 22, 2023. With over 35 years of experience in commercial banking, especially in credit risk, Williams previously served as Chief Credit Officer and COO at California United Bank. Her appointment is seen as a strategic move to strengthen the bank's relationship-based commercial banking model. Williams continues to hold her role as Executive Vice President and Chief Credit Officer at Bank of Southern California, which has been functional since November 2020.

Positive

• Anne Williams brings over 35 years of commercial banking experience.
• Her experience in credit risk is expected to enhance the bank's banking model.
• Williams' continued role as Chief Credit Officer may ensure stability in leadership.

Negative

• Concerns may arise regarding potential gaps in continuity with new leadership.
• There could be uncertainties about how Williams' past experiences will translate to the bank's current strategies.

SAN DIEGO--(BUSINESS WIRE)-- Southern California Bancorp (“us,” “we,” “our,” or the “Company”) (OTC Pink: BCAL), announces the appointment of Anne Williams to the Board of Directors of the Company and of its wholly owned subsidiary, Bank of Southern California, N.A. (the “Bank”), effective February 22, 2023.

“I am very pleased to announce the appointment of Anne Williams as a Director to our Boards,” said David Rainer, Chairman and CEO of Southern California Bancorp and Bank of Southern California. “Anne is an accomplished credit risk professional with more than 35 years of experience in building and growing commercial banking platforms and we look forward to her contributions as we continue to execute on our relationship-based commercial banking model.”

Ms. Williams joined the Bank of Southern California in November 2020 as an Executive Vice President and Chief Credit Officer and will continue to serve in that position. Prior to joining the Bank, she was a Founder of and Executive Vice President and Chief Credit Officer (2014-2017) and Chief Operating Officer (2008-2017) of California United Bank (CUB), a wholly owned subsidiary of CU Bancorp (Nasdaq: CUNB) until its acquisition in 2017. She also served as a director for CUB from 2009 to 2014. Prior to that, from 1999 to 2004, Ms. Williams served as a Senior Vice President and Manager for US Bank’s Commercial Banking Market for the State of California. Before that, from 1992 to 1999, she was an Executive Vice President and Chief Credit Officer at California United Bank and its successor, Pacific Century Bank.

Ms. Williams is active in the community and is a former board member of the Los Angeles Local Development Corporation, the California Economic Development Lending Initiative, and the Park Advisory Board for the Pan Pacific Recreation Complex.

Ms. Williams received her bachelor’s degree from Mount Holyoke College.

ABOUT BANK OF SOUTHERN CALIFORNIA AND SOUTHERN CALIFORNIA BANCORP

Southern California Bancorp (OTC Pink: BCAL) is a registered bank holding company headquartered in San Diego, California. Bank of Southern California, N.A., a national banking association chartered under the laws of the United States and regulated by the Office of Comptroller of the Currency, is a wholly owned subsidiary of Southern California Bancorp. Established in 2001 and headquartered in San Diego, California, Bank of Southern California, N.A. offers a range of financial products and services to individuals, professionals, and small- to medium-sized businesses through its 13 branch offices serving San Diego, Orange, Los Angeles, and Ventura counties, as well as the Inland Empire. The Bank's solutions-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. Additional information is available at www.banksocal.com.

Southern California Bancorp’s common stock is traded on the OTC Markets Group Inc. Pink Open Market under the symbol “BCAL.” For more information, please visit banksocal.com or call (844) BNK-SOCAL.

FORWARD-LOOKING STATEMENTS

In addition to historical information, certain matters set forth herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to management’s beliefs, projections and assumptions concerning future results and events. Forward-looking statements include descriptions of management’s plans or objectives for future operations, products or services, and forecasts of Southern California Bancorp’s revenues, earnings, litigation expenses, or other measures of economic performance. As well, forward-looking statements may relate to future outlook and anticipated events. These forward-looking statements involve risks and uncertainties, based on the beliefs and assumptions of management and on the information available to management at the time that such forward-looking statements were made and can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words or phrases such as “aim,” “can,” "may," "could," "predict," "should," "will," "would," "believe," "anticipate," "estimate," "expect," “hope,” "intend," "plan," “potential," “project,” "will likely result," "continue," "seek," “shall,” “possible,” "projection," “optimistic,” and "outlook," and variations of these words and similar expressions or the negative version of those words or phrases.

Forward-looking statements involve substantial risks and uncertainties, many of which are difficult to predict and are generally beyond our control. Many factors could cause actual results to differ materially from those contemplated by these forward-looking statements. Except to the extent required by applicable law or regulation, Southern California Bancorp does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005180/en/

INVESTOR RELATIONS CONTACT

Kevin Mc Cabe

Bank of Southern California

kmccabe@banksocal.com

818.637.7065

Source: Southern California Bancorp

FAQ

What recent change occurred at Southern California Bancorp on February 22, 2023?

Anne Williams was appointed to the Board of Directors of Southern California Bancorp and its subsidiary.

Who is Anne Williams and what is her role at Southern California Bancorp?

Anne Williams is an experienced credit risk professional and serves as Executive Vice President and Chief Credit Officer, in addition to her new role on the Board.

How might Anne Williams' appointment impact Southern California Bancorp (BCAL)?

Her extensive experience in commercial banking is expected to strengthen the bank's relationship-based banking model.

What is the stock symbol for Southern California Bancorp?

The stock symbol for Southern California Bancorp is BCAL.

What kind of experience does Anne Williams bring to Southern California Bancorp?

Anne Williams has over 35 years of experience in building and growing commercial banking platforms.