Welcome to our dedicated page for West Coast Community Bancorp news (Ticker: SCZC), a resource for investors and traders seeking the latest updates and insights on West Coast Community Bancorp stock.
West Coast Community Bancorp (SCZC), the holding company for Santa Cruz County Bank, provides relationship-driven community banking services across California. This page serves as the definitive source for SCZC news, offering investors and stakeholders timely updates on financial developments and strategic initiatives.
Access official press releases covering earnings results, merger integrations, product innovations, and community engagement efforts. Stay informed about key operational areas including SBA lending programs, risk management practices, and liquidity strategies that shape the company’s regional impact.
Key updates on SCZC’s merger-driven growth, deposit service enhancements, and technology investments provide insights into its market position. Content reflects the institution’s commitment to personalized service and financial stewardship within the competitive community banking sector.
Bookmark this page for direct access to primary source materials and curated updates essential for understanding SCZC’s operational trajectory. Regularly updated content ensures stakeholders maintain current awareness of this California-focused financial institution’s evolving story.
West Coast Community Bancorp (SCZC) reported strong Q1 2025 earnings of $11.7 million, or $1.10 per dilutive share, compared to $3.8 million in the previous quarter and $9.3 million in Q1 2024. The bank's performance was driven by the successful integration of its merger with 1st Capital Bancorp and sustained organic loan growth.
Key financial highlights include:
- Gross loans increased to $2.1 billion, up 3% from Q4 2024 and 53% year-over-year
- Total assets reached $2.7 billion
- Net interest margin was 5.29%
- Efficiency ratio improved to 46.48%
The Board declared an increased quarterly cash dividend of $0.20 per share, up $0.01 from the previous quarter. The bank completed its rebranding to West Coast Community Bank on April 1, positioning itself for expansion across its four-county region spanning the Central Coast and Silicon Valley.
Santa Cruz County Bank (SCCB) has been recognized as one of America's Best Regional Banks 2025 by Newsweek and Plant-A Insights Group. The bank, with assets of $2.68 billion, earned this distinction through a comprehensive evaluation that analyzed over 9,000 institutions, 70,000 customer surveys, and millions of social media reviews.
The recognition highlights SCCB's position as a top-rated community bank headquartered in Santa Cruz, California. The bank, operating as a subsidiary of West Coast Community Bancorp (OTCQX: SCZC), provides full-service banking through branches across multiple California locations including Aptos, Capitola, Cupertino, and others. SCCB distinguishes itself through relationship-based service, problem-solving focus, and direct access to decision makers, particularly excelling as a leading SBA lender in Santa Cruz County and Silicon Valley.
West Coast Community Bancorp (SCZC) reported unaudited earnings of $29.6 million for 2024, compared to $35.2 million in 2023. Excluding merger-related after-tax charges of $10.9 million, adjusted net income would have been $40.5 million for 2024.
Key Q4 2024 highlights include: net interest margin of 5.38% (up from 4.93% in Q3), total assets of $2.68 billion (49% increase), and deposits of $2.3 billion (51% increase). The merger with 1st Capital Bank, completed on October 1, 2024, added $994.3 million in assets.
The Board declared an increased quarterly cash dividend of $0.19 per share, payable February 11, 2025. The efficiency ratio was 61.62% for Q4 2024, while all capital ratios remained above regulatory requirements with a total risk-based capital ratio of 14.00%.
Santa Cruz County Bank (OTCQX: SCZC) has appointed Emily Ruvalcaba as Senior Vice President and Regional President for the Silicon Valley region. With over 30 years of experience in business and commercial banking, Ruvalcaba will focus on expanding the bank's presence throughout the Bay Area from her office in Cupertino.
Ruvalcaba joins from Bridge Bank, where she served for 22 years in various executive roles. She brings expertise in building relationships with small and middle-market businesses and leading high-performing teams. She is actively involved in community organizations, serving on boards including Sacred Heart Nativity Schools and San Jose Downtown Association.
The appointment aligns with Santa Cruz County Bank's strategy to strengthen its presence in the Bay Area. The bank, founded in 2004, operates as a full-service community bank with branches across California, specializing in SBA lending, commercial real estate financing, and business banking services.
Santa Cruz County Bank (OTCQX: SCZC) has appointed Alison Voorhees as Senior Vice President and Director of Marketing. Voorhees brings over 20 years of marketing experience and holds multiple professional certifications including CFMP, Certified Digital Marketing Professional, and PCM® in Digital Marketing. She previously served as Vice President, Marketing Strategy Manager at Capital City Bank and holds advanced degrees from USC and London School of Economics. In her new role, she will oversee all marketing aspects from the bank's Santa Cruz location, focusing on branding, communications, and integrated marketing strategies.
Santa Cruz County Bank (OTCQX: SCZC) announced the planned retirement of Mary Anne Carson, Executive Vice President and Chief Marketing Officer, effective January 3, 2025. Carson, who joined as the bank's fourth employee in 2003, has been instrumental in creating the bank's brand identity and leading marketing initiatives for over 20 years. She spearheaded public and private stock sales, managed shareholder relations, and led the Marketing Department through multiple mergers including Lighthouse Bank and 1st Capital Bank. Carson has also developed the bank's new brand, West Coast Community Bank, set to launch in 2025.
West Coast Community Bancorp, parent company of Santa Cruz County Bank (OTCQX: SCZC), reported net income of $8.2 million for Q3 2024, consistent with the prior quarter but down from $9.1 million in Q3 2023. Year-to-date earnings were $25.7 million, down from $26.3 million in 2023, primarily due to $772,000 in merger-related expenses. Key metrics include a net interest margin of 4.92%, an efficiency ratio of 43.65%, and a return on average assets of 1.94% (excluding merger costs). The merger with 1st Capital Bank, completed on October 1, 2024, is expected to increase assets to nearly $2.8 billion. The Board declared a $0.18 per share dividend, up $0.01 from the prior quarter. Total assets were $1.80 billion, and deposits increased to $1.53 billion. Gross loans grew to $1.39 billion, led by construction loans. Nonaccrual loans were $2.4 million. The allowance for credit losses was $23.1 million. The bank's liquidity and capital ratios remain strong.
West Coast Community Bancorp (OTCQX: SCZC), parent company of Santa Cruz County Bank, announced significant changes to its Board of Directors. Thomas N. Griffin, a founding director, retired effective September 30, 2024, after over 20 years of service. During his tenure, the bank's assets grew from $13.2 million to $1.8 billion. Wayne Doiguchi, with over 40 years of Bay Area banking experience, has been appointed as a new director.
Key milestones during Griffin's service included the merger with Lighthouse Bank in 2019, expansion into Monterey County and Silicon Valley, and the recent merger with 1st Capital Bancorp. Doiguchi, formerly a director at California Bank of Commerce and CEO of Pan Pacific Bank, brings extensive commercial banking expertise to assist in developing the organization into a premier California banking franchise.
West Coast Community Bancorp (OTCQX: SCZC) and 1st Capital Bancorp have successfully completed their merger on October 1, 2024. The merged entity will operate under a new brand, West Coast Community Bank, starting in the second quarter of 2025. Kurt J. Gollnick and Daniel R. Hightower, M.D., former leaders of 1st Capital Bancorp, have joined the boards of Bancorp and Bank.
The merger creates one of the largest community banks on the Central Coast, with total assets of approximately $2.8 billion. Each share of 1st Capital Bancorp common stock was converted into 0.36 shares of Bancorp common stock. The combined bank aims to leverage its increased scale and lending capacity to serve larger business relationships while maintaining its community focus.
Systems conversion is expected to complete in mid-December. The merger is anticipated to enhance the bank's ability to invest in advanced technology and products while maintaining exceptional client service standards.
West Coast Community Bancorp (OTCQX: SCZC) and 1st Capital Bancorp (OTCQX: FISB) have received shareholder approval for their merger. The transaction, expected to close on October 1, 2024, has also obtained all necessary regulatory approvals. Based on June 30, 2024 financial results, the combined entity will have approximately $2.8 billion in total assets and banking branches in four Central Coast California counties.
Krista Snelling, President and CEO of West Coast Community Bancorp and Santa Cruz County Bank, expressed excitement about the merger's progress and its potential to enhance technology and services for clients throughout the West Coast. The merger will combine Santa Cruz County Bank's strengths as a top-rated, full-service community bank with 1st Capital Bank's focus on commercial enterprises, professionals, and real estate investors along the Central Coast region of California.
