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.
Santa Cruz County Bank (OTCQX: SCZC) declared a 10% stock dividend payable on November 8, 2021, to shareholders of record as of October 26, 2021. The bank reported a net income of $16.6 million for the nine months ended September 30, 2021, a 23% increase from $13.5 million in the same period last year. With assets of $1.70 billion, the bank continues to enhance shareholder value through strong financial performance.
Santa Cruz County Bank (OTCQX: SCZC) reported record earnings of $16.6 million for the nine months ending September 30, 2021, marking a 23% increase year-over-year. As of the same date, the bank's assets reached $1.70 billion, up 18%, while total gross loans (excluding PPP) rose by 26% to $1.05 billion. Net income for Q3 2021 was $5.5 million, slightly up from Q2 and Q3 2020. Basic earnings per share increased to $1.42 for Q3 2021. However, noninterest income declined to $835,000, primarily due to reduced gains on SBA loans sold.
Santa Cruz County Bank (OTCQX: SCZC) has declared a quarterly cash dividend of $0.125 per share, payable on October 12, 2021, to shareholders of record as of September 30, 2021. For the quarter ending June 30, 2021, the bank reported a $5.3 million net income, marking a 40% increase year-over-year. The return on average equity stood at 11.97%, while shareholders' equity grew to $178.6 million. Book value per share increased to $46.15, up $4.68 from the previous year.
Santa Cruz County Bank (OTCQX: SCZC) reported a net income of $5.3 million for Q2 2021, a 40% increase from Q2 2020. Year-to-date earnings reached a record $11.1 million, up 36% year-over-year. Total assets grew by 18% to $1.63 billion, with deposits increasing by 25% to $1.43 billion. The bank experienced a 15% increase in gross loans year-over-year. Despite a slight decrease in the net interest margin to 4.07%, the bank maintained strong credit quality with only $98 thousand in nonaccrual loans.
Santa Cruz County Bank (OTCQX: SCZC) announced the appointment of Susan Just as Executive Vice President and Chief Credit Officer. Ms. Just brings over 30 years of experience in lending and credit risk management, having held senior roles at major banks, managing loan portfolios up to $8.5 billion. Her background includes expertise in regulatory compliance and credit risk, essential for the bank's growth. CEO Krista Snelling emphasized the value of her experience in navigating complex loan portfolios. The bank continues to be a leader in community banking and SBA lending.
Santa Cruz County Bank (OTCQX: SCZC) announced a 25% increase in its quarterly cash dividend, raising it from $0.10 to $0.125 per share. This dividend will be payable on July 6, 2021 to shareholders on record by June 25, 2021. For the quarter ending March 31, 2021, the bank reported a net income of $5.8 million, reflecting a 32% increase year-over-year. The bank's return on average equity stood at 13.66%, and shareholders' equity rose to $173.5 million, an increase of $18.6 million compared to the previous year.
Santa Cruz County Bank (OTCQX: SCZC), with assets over $1.5 billion, ranked 29th among the Top 200 Community Banks in the U.S., as reported in American Banker Magazine's May 2021 issue. This ranking is based on a 3-year average return on equity of 14.61% for the years ending December 31, 2020, outperforming the median of 11.39% for the top 200 banks. The bank also secured 4th place in California. President Krista Snelling attributed the success to strategic focus and high performance, emphasizing their commitment to exceptional credit quality.
Santa Cruz County Bank (OTC: SCZC) has promoted Jon Sisk to Regional President/Chief Banking Officer. With over $1.5 billion in assets, the bank aims to enhance its business development strategy under Sisk's leadership, targeting growth in lending and deposits. Sisk, who has over 25 years of community banking experience and played a key role in the bank's growth into Silicon Valley, will focus on expanding the bank's reach. The bank is recognized for its relationship-based service and is a leading SBA lender in the region.
Santa Cruz County Bank (OTC: SCZC), boasting over $1.5 billion in assets, has announced the acquisition of a building in Salinas, California, to establish its ninth full-service branch in 2022. The location, built in the 1970s, will undergo a remodel to create a modern banking facility, contributing to the city's Downtown Salinas Vibrancy Plan. CEO William J. Hansen highlighted that this move supports their strategic expansion into the Monterey County market.
Santa Cruz County Bank (OTC: SCZC) reports record unaudited earnings for Q1 2021, with net income rising 32% to $5.8 million compared to Q1 2020. Assets grew by 45% year-over-year to $1.55 billion, driven by significant loan origination through the PPP program. Deposits reached $1.36 billion, up 51% from the previous year. The bank maintained strong credit quality, with only one loan on nonaccrual. The efficiency ratio improved to 45.60%. However, net interest margin decreased to 4.10%, down from 4.51% in the previous year. The bank continues to support local businesses while expanding its operations.
