SANTA CRUZ, Calif., May 26, 2023 /PRNewswire/ -- Santa Cruz County Bank today announced the results of its annual election of directors. A total of 6,467,735 shares were represented and voted at the meeting, constituting 76.68% of the 8,434,755 issued and outstanding shares entitled to vote at the meeting. There was no solicitation in opposition to management's nominees for director as listed in the proxy statement for the annual meeting, and all of such nominees were elected pursuant to the vote of the shareholders. The vote on the election of the eight (8) nominees for director was as follows:
Director
| For
| Percent of Votes
Cast "For"
| Withheld
| Percent of
Votes Withheld
|
John C. Burroughs
| 4,203,489
| 90.48 %
| 442,387
| 5.24 %
|
Kenneth R. Chappell
| 4,295,871
| 92.40 %
| 353,309
| 4.19 %
|
Craig A. French
| 4,288,141
| 92.23 %
| 361,039
| 4.28 %
|
Thomas N. Griffin
| 4,257,083
| 91.63 %
| 388,793
| 4.61 %
|
William J. Hansen
| 3,697,198
| 79.52 %
| 951,982
| 11.29 %
|
Stephen D. Pahl
| 4,068,362
| 87.51 %
| 580,818
| 6.89 %
|
Krista Snelling
| 4,048,452
| 87.14 %
| 597,424
| 7.08 %
|
James L. Weisenstein
| 4,293,055
| 92.34 %
| 356,125
| 4.22 %
|
The number voting "For" constituted over 79% of the total number of shares represented for all directors listed to this item of business.
The appointment of Crowe LLP as the Bank's independent registered public accounting firm for 2023 was ratified, with the number of shares voted as follows:
For: 6,443,023
Against: 1,386
Abstain: 20,022
The number voting "For" constituted 99.67% of the total number of shares represented and voting at the meeting with respect to this item of business.
The final matter voted on at the annual meeting relates to the formation of a holding company. At the meeting, shareholders approved the principal terms of the Plan of Reorganization and Merger Agreement providing for the reorganization of Santa Cruz County Bank into a wholly-owned subsidiary of West Coast Community Bancorp. Shares were voted as follows:
For: 4,505,149
Against: 93,117
Abstain: 50,914
The number voting "For" constituted 96.90% of the total number of shares represented and voting at the meeting with respect to this item of business.
Following the meeting, the Bank's board set the number of directors to serve on the board for the ensuing year at seven (7) due to the retirement of William J. Hansen.
ABOUT SANTA CRUZ COUNTY BANK
Santa Cruz County Bank was founded in 2004. It is a top-rated, locally-owned and operated, full-service community bank headquartered in Santa Cruz, California. The bank has branches in Aptos, Capitola, Cupertino, Monterey, Salinas, Santa Cruz, Scotts Valley and Watsonville. Santa Cruz County Bank is distinguished from "big banks" by its relationship-based service, problem-solving focus and direct access to decision makers. The bank is a leading SBA lender in Santa Cruz County and Silicon Valley and a top USDA lender in the state of California. As a full-service bank, Santa Cruz County Bank offers competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction lending, asset-based lending, agricultural loans, SBA and USDA government guaranteed loans, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payment and treasury management. True to its community roots, Santa Cruz County Bank has supported regional well-being by actively participating in and donating to local not-for-profit organizations.
Santa Cruz County Bank stock is publicly traded on the OTCQX U.S. Premier marketplace under the symbol SCZC. Stock purchase orders may be placed online, through a brokerage firm, or through Market Makers listed in the Investor Relations section of the bank's website. For more information about Santa Cruz County Bank, visit www.sccountybank.com.
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SOURCE Santa Cruz County Bank
