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West Coast Community Bancorp - SCZC STOCK NEWS

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.

About West Coast Community Bancorp (SCZC)

West Coast Community Bancorp is a bank holding company that operates Santa Cruz County Bank, a full‐service community bank known for its relationship-based service and problem-solving focus. Established in 2004, the company delivers competitive deposit and lending solutions to businesses and individuals throughout California. Its business model revolves around providing personalized banking services, including traditional business loans, lines of credit, commercial real estate financing, asset-based lending, and specialized loans such as SBA and USDA government guaranteed products, making it a significant regional player in community banking.

Core Business Areas and Operations

Operating primarily through a network of strategically located branches, West Coast Community Bancorp emphasizes a service approach that distinguishes it from larger national banks. It focuses on:

  • Deposit and Lending Solutions: Offering competitive rates and innovative products that cater to both personal and business finance needs.
  • Community Engagement: Maintaining deep relationships with local communities through active participation and support of regional nonprofit initiatives.
  • Risk Management and Liquidity: Employing stringent measures to manage asset quality and liquidity, including conservative loan underwriting and active portfolio monitoring, ensuring stability even under economic fluctuations.
  • Technology Integration: Utilizing advanced banking platforms that enhance mobile and online banking services, ensuring efficient customer service and secure transactions.

Market Position and Strategic Development

West Coast Community Bancorp is recognized for its expertise in community banking, with a clear emphasis on direct access to decision makers and relationship-driven service. The bank’s extensive suite of financial products supports regional growth and satisfies the demands of diverse market segments, including small and medium enterprises, real estate investors, and individuals seeking personalized financial solutions.

The company’s recent merger with a complementary institution has further expanded its geographic footprint and lending capacity, enabling it to benefit from increased scale and operational efficiencies. This merger has strengthened its balance sheet and enhanced its ability to deliver advanced technology and expanded product offerings, positioning the company as an important contributor in the Central Coast and Silicon Valley regions.

Commitment to Community and Customer Service

True to its community-first roots, West Coast Community Bancorp continuously supports local economic development through active engagement with community organizations and nonprofits. Its service model is designed to provide clarity, responsiveness, and a high level of personal attention, which many customers value in contrast to the impersonal service often associated with larger banking institutions.

Financial Performance and Industry Expertise

The company demonstrates sound financial stewardship by managing non-performing loans effectively, maintaining strong liquidity ratios, and employing best practices in risk management. Its performance metrics, such as net interest margins and cost of funds, reflect a disciplined approach to banking that balances growth with fiscal prudence. Industry-specific keywords such as "community banking," "SBA lending," and "risk management" are integral to its operational ethos.

For investors and market researchers, West Coast Community Bancorp offers a transparent look into a financial institution that combines deep local ties with robust banking expertise, ensuring service excellence and sustainable operations in the competitive landscape of community banking.

Conclusion

Overall, West Coast Community Bancorp (SCZC) is dedicated to delivering high-quality banking services while supporting regional communities through tailored financial solutions. Its strong operational framework, commitment to personalized service, and strategic growth initiatives provide a comprehensive picture of a company that understands and addresses the evolving needs of its diverse customer base.

Rhea-AI Summary

West Coast Community Bancorp (OTCQX: SCZC), holding company for Santa Cruz County Bank, announced the results of its annual election of directors. A total of 6,628,756 shares (79% of issued and outstanding shares) were represented and voted. All director nominees were elected with support ranging from 86% to 95%. Crowe LLP was ratified as the Bank's independent public accounting firm for 2024, with 99.51% votes in favor. The 2024 Equity Compensation Plan was approved with 91.59% votes in favor. Post-meeting, the board set the number of directors for the next year at eight.

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Santa Cruz County Bank, with assets over $1.7 billion, has welcomed Natalie E. Taaffe as Senior Vice President, Senior Relationship Manager. Taaffe brings 38 years of industry experience, specializing in construction real estate lending. She will be serving clients in the Greater Bay Area from the Bank's Cupertino office in Silicon Valley.

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West Coast Community Bancorp, the parent company of Santa Cruz County Bank, reported unaudited earnings for the first quarter ended March 31, 2024. Net income was $9.3 million, a 5% increase from the prior quarter and the same period in 2023. The company declared a quarterly cash dividend of $0.17 per common share. Financial highlights included a decrease in total assets to $1.71 billion, a decrease in deposits to $1.46 billion, and a decrease in gross loans to $1.38 billion. Nonperforming loans were reduced to $90 thousand or 0.01% of total loans. The company's liquidity position and capital ratios remained strong. Net interest margin was 4.86%, return on average assets was 2.14%, and efficiency ratio was 42.81%. Tangible book value per share increased to $25.05. Noninterest income was $1.0 million, and noninterest expense was $9.1 million. The loan portfolio mix showed a decrease in various loan categories. Shareholders' equity increased to $238.1 million.
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West Coast Community Bancorp, the parent company of Santa Cruz County Bank, announced record earnings for the year ended December 31, 2023, with a $35.2 million net income, a 14% increase over 2022. The Board declared a quarterly cash dividend of $0.17 per common share, an increase of $0.01 per share from the prior quarter, payable on February 14, 2024, to shareholders of record at the close of business on February 8, 2024.
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West Coast Community Bancorp (SCZC) has been named to the 2024 OTCQX Best 50, ranking 37th with a 22% return to shareholders in 2023. This confirms the Bank's strong financial performance and commitment to building shareholder value.
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Santa Cruz County Bank (OTCQX: SCZC) closed 23 loans, providing over $22 million in lending in Silicon Valley for the SBA's 2023 fiscal year. The bank ranks #1 for the number of SBA loans and #3 for total dollar volume of SBA loans in Silicon Valley. With assets of $1.77 billion, Santa Cruz County Bank is a top-rated community bank headquartered in Santa Cruz County. The bank made 23 loans totaling $22.58 million in volume in Silicon Valley, including Santa Clara, Santa Cruz, and Monterey Counties. SVP, Director of SBA Lending, Susan Chandler, highlighted the bank's commitment to supporting small businesses for economic development and job growth.
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West Coast Community Bancorp, the parent company of Santa Cruz County Bank, announced unaudited earnings for Q3 2023 of $9.1M, a 10% increase from the previous quarter. Basic and diluted earnings per share also improved. The Board of Directors declared a quarterly cash dividend of $0.16 per share, an increase of $0.01 per share from the prior quarter.
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Santa Cruz County Bank receives national recognitions from American Banker Magazine
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Santa Cruz County Bank completes holding company reorganization with West Coast Community Bancorp
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Santa Cruz County Bank (SCZC) announced unaudited earnings for the quarter ended June 30, 2023. Net income was $8.3 million, up 31% from the prior year. Gross loans set a quarterly record, and the Bank remains focused on profitability, credit quality, and enterprise risk management. The Bank was listed in American Banker Magazine's Top 200 Community Banks & Thrifts in the United States.
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FAQ

What is the current stock price of West Coast Community Bancorp (SCZC)?

The current stock price of West Coast Community Bancorp (SCZC) is $38.5 as of April 3, 2025.

What is the market cap of West Coast Community Bancorp (SCZC)?

The market cap of West Coast Community Bancorp (SCZC) is approximately 421.7M.

What is the primary business of West Coast Community Bancorp?

West Coast Community Bancorp is a bank holding company that operates Santa Cruz County Bank, offering a wide range of community banking services including personal and business loans, deposits, and treasury management.

What products and services does the company offer?

The company provides competitive deposit products, various types of loans including commercial real estate financing and asset-based lending, and advanced digital banking services that cater to both individuals and businesses.

How does West Coast Community Bancorp differentiate itself from larger banks?

It differentiates itself through a relationship-based service model, direct access to decision makers, personalized banking solutions, and deep community engagement, which foster a more tailored and responsive customer experience.

What region does West Coast Community Bancorp primarily serve?

The company primarily serves customers in California, focusing on regions such as Santa Cruz County, the Central Coast, and Silicon Valley, with a strong local presence and community focus.

How is the company positioned in the competitive landscape?

As a respected community bank, West Coast Community Bancorp is known for its prudent risk management, stable financial performance, and strategic mergers that expand its reach, positioning it as a significant regional player in community banking.

What recent strategic development has impacted the company?

The company recently completed a merger with 1st Capital Bancorp, which has expanded its geographic footprint and enhanced its operational scale, allowing for improved lending capacity and service delivery.

Are advanced technologies part of its service offerings?

Yes, West Coast Community Bancorp has integrated advanced online and mobile banking platforms to enhance customer experience, secure transactions, and ensure efficient service across its diverse product range.

How does the company ensure financial stability?

The company maintains strong risk management practices, effective liquidity controls, and a disciplined approach to asset quality, which collectively support its financial stability and ongoing operational success.
West Coast Community Bancorp

OTC:SCZC

SCZC Rankings

SCZC Stock Data

421.73M
2.65M
7.68%
Banks - Regional
Financial Services
Link
United States
Santa Cruz