California Bancorp Stock Price, News & Analysis

Southern California Bancorp (BCAL) reported its first quarter 2022 financial results, highlighting a non-PPP loan growth of $165.8 million, or 11.5%, reaching $1.61 billion. Total assets increased to $2.30 billion, while total deposits rose by $39.8 million to $2.01 billion. Net income fell to $1.4 million from $3.4 million in the previous quarter, attributed to decreased PPP income and increased provisions for loan losses. The tangible book value per share is $11.72. The bank maintains a well-capitalized status with a net interest margin of 3.40%. Nonperforming assets rose to 0.09% of total assets.

Southern California Bancorp (OTC Pink: BCAL) will have its executive team participating in the Piper Sandler Western Financial Services Conference on March 8, 2022, in San Diego, California. Key executives attending include David Rainer, Chairman and CEO; Thomas Dolan, CFO; and Richard Hernandez, Chief Banking Officer. The corporate investor presentation will be accessible on their website. Southern California Bancorp, established in 2001, offers a range of financial products through its branches across several counties.

Southern California Bancorp (OTC Pink: BCAL) reported strong financial results for 2021, reflecting significant growth driven by the acquisition of Bank of Santa Clarita. In Q4, non-PPP organic loan growth reached $154 million (up 14.7%), while total non-PPP loans increased by 37.6% to $1.45 billion.

Full-year net income hit a record $10.7 million, a 126.8% increase from 2020. Total assets rose to $2.26 billion (up 43.1%), with deposits reaching $1.97 billion (up 65.1%). The company's capital position remains strong, classified as 'well-capitalized' with minimal nonperforming assets.

Southern California Bancorp (OTC Pink: BCAL) announced that its executive team, including David Rainer and Thomas Dolan, will participate in the D.A. Davidson Financial Institutions Group Bison Select Conference on December 9, 2021. This event provides an opportunity for the management to engage with investors and share insights about the company's performance and strategy. The investor presentation will be accessible on the company’s website for those interested in more details.

Southern California Bancorp (OTC Pink: BCAL) reported a 45.9% increase in net income for Q3 2021, reaching $3.5 million. Net organic loans rose 11.8% to $1.1 billion. Total assets grew to $1.8 billion, with deposits at $1.6 billion. The bank successfully completed the acquisition of Bank of Santa Clarita and opened new branches in Los Angeles County, enhancing its market presence. Despite a slight decline in net interest margin to 3.67%, the bank remains well-capitalized and managed to maintain low nonperforming assets at 0.04% of total assets.

Southern California Bancorp announced the completion of its acquisition of Bank of Santa Clarita effective October 1, 2021. The merger creates a combined entity with $2.2 billion in assets, bolstering its presence in the Northern Los Angeles County market. The acquisition is expected to enhance earnings for both 2021 and 2022. Shareholders of Bank of Santa Clarita will receive approximately $64.6 million in stock, representing 23% of the new entity. Notably, Frank Di Tomaso will join the board, bringing over 40 years of banking experience.

Bank of Southern California (OTC Pink: BCAL) has appointed Nicole Swain as Executive Vice President and President of Private Banking. Swain, with over 30 years of experience, previously served as Chief Banking Officer at First Choice Bank, where she helped grow assets from approximately $380 million to over $2 billion. Her role will focus on developing high net worth banking relationships and leading the new Private Banking Group. This strategic appointment aims to enhance the bank's presence and service offerings across Southern California.

Bank of Southern California (OTC Pink: BCAL) announced the appointment of Ross Macdonald as Senior Vice President, Commercial Lending Regional Manager in Orange County. Based in Irvine, Macdonald brings 17 years of banking experience, mostly in commercial banking, where he previously led a team focused on middle-market companies. His educational background includes a bachelor's degree from UCLA and an MBA from Pepperdine University. The bank aims to leverage his expertise to enhance its client base in the region.