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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.

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.

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West Coast Community Bancorp (OTCQX: SCZC), parent company of Santa Cruz County Bank, reported $8.2 million in net income for Q2 2024, down from $9.3 million in Q1 2024 and $8.3 million in Q2 2023. Despite a slight dip, the net income for the first half of 2024 was $17.5 million, up 2% year-over-year. Key metrics include a 4.98% net interest margin and a 1.98% return on average assets, with efficiency ratio below 44%.

The company announced a quarterly cash dividend of $0.17 per share, payable on August 12, 2024. Major events include the planned merger with 1st Capital Bancorp expected to close in Q4 2024. The company earned top national rankings, including 50th in American Banker Magazine's Top 100 Community Banks under $2 billion and 12th in ICBA's Top-Performing Banks over $1 billion.

Financial highlights for Q2 2024 include $1.71 billion in total assets, $1.43 billion in deposits, and $1.39 billion in gross loans, an increase of $8.3 million from the prior quarter. The company's liquidity position remains strong with a liquidity ratio of 11.7%.

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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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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