SOUTHERN CALIFORNIA BANCORP ANNOUNCES APPOINTMENT OF RICHARD MARTIN TO BOARD OF DIRECTORS

San Diego, Calif., May 23, 2023 (GLOBE NEWSWIRE) -- Southern California Bancorp (the “Company”) (Nasdaq: BCAL), announces the appointment of Richard Martin to the Board of Directors of the Company and of its wholly owned subsidiary, Bank of Southern California, N.A. (the “Bank”), effective May 18, 2023. Mr. Martin has been appointed to serve on the Company’s Audit and Risk Committee.

“We are very pleased to welcome Richard Martin as a director to our boards,” said David Rainer, Chairman and CEO of the Company and the Bank. “Richard brings more than 30 years of corporate experience as a certified public accountant, including his tenure of more than 10 years at two of the Big Four accounting firms and 12 years of experience on the Board of Directors of Americas United Bank, and he has a strong presence in our local business and nonprofit communities. We believe Richard’s extensive accounting and board experience will bring significant insights and value to our boards.”

“I am delighted to be joining the boards of the Company and the Bank,” said Richard Martin. “Dave and his team have done an outstanding job of developing and expanding the Bank’s franchise in Southern California over the last two years, while providing outstanding service to small and medium-sized businesses in our communities, and I look forward to contributing to its continued development.”

Mr. Martin, a certified public accountant, founded R. Martin & Associates in 2003, a certified public accounting firm providing business consulting, tax, and accounting services to a broad variety of industries. Before founding R. Martin & Associates, he served for seven years as a Senior Manager at PricewaterhouseCoopers (1995 – 2000; 2001 – 2003), providing clients with business consulting, tax consulting, and compliance services, including consulting on optimal business structuring, mergers and acquisitions, and accounting methods review. Prior to that, he served as a Supervising Senior Tax Specialist for public accounting firm KPMG (1990 – 1994).

Mr. Martin served for 12 years on the board of directors of Americas United Bank (2006 – 2018), where his tenure included serving as the Chairman of the Asset and Liability Committee, as well as the Nominating Committee, and as a member of the Audit Committee. Mr. Martin currently serves on the board of directors of Glendale Memorial Hospital-Dignity Health, City of Burbank Treasurer’s Oversight Committee, and the foundation board for Village Christian Schools. Additionally, he has served on the board of directors and audit committee for the Burbank YMCA and the Advisory Board for the Accounting Department of Glendale Community College. He is a member of the American Institute of Certified Public Accountants, the California Society of Certified Public Accountants, and Latino Deal Makers.

Mr. Martin earned his bachelor’s degree in business administration from California State University, Northridge, and attended Golden Gate University for a master’s degree in taxation.

ABOUT SOUTHERN CALIFORNIA BANCORP AND BANK OF SOUTHERN CALIFORNIA

Southern California Bancorp (NASDAQ: BCAL) is a registered bank holding company headquartered in San Diego, California. Bank of Southern California, N.A., a national banking association chartered under the laws of the United States (the “Bank”) and regulated by the Office of Comptroller of the Currency, is a wholly owned subsidiary of Southern California Bancorp. Established in 2001 and headquartered in San Diego, California, the Bank offers a range of financial products and services to individuals, professionals, and small- to medium-sized businesses through its 13 branch offices serving Orange, Los Angeles, Riverside, San Diego, and Ventura counties, as well as the Inland Empire. The Bank's solutions-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. Additional information is available at www.banksocal.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

In addition to historical information, this release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and other matters that are not historical facts. Examples of forward-looking statements include, among others, statements regarding plans or objectives for future operations, products or services, forecasts relating to financial and operating results or other measures of economic performance, litigation and performance and other projections and predictions regarding future results and events. Forward-looking statements reflect management’s current view about future events and involve risks and uncertainties that may cause actual results to differ from those expressed in the forward-looking statement or historical results. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and often include the words or phrases such as “aim,” “can,” "may," "could," "predict," "should," "will," "would," "believe," "anticipate," "estimate," "expect," “hope,” "intend," "plan," “potential," “project,” "will likely result," "continue," "seek," “shall,” “possible,” "projection," “optimistic,” and "outlook," and variations of these words and similar expressions.

Some factors that could cause actual results to differ materially from historical or expected results include, among others: the risk factors discussed in the Company’s Registration Statement on Form 10, as amended, filed with the Securities and Exchange Commission; changes in general economic conditions, either nationally or locally in the areas in which the Company conducts business; the impact on financial markets from geopolitical conflicts; inflation, interest rate, market and monetary fluctuations; increases in competitive pressures among financial institutions and businesses offering similar products and services; higher than anticipated defaults in the Company’s loan portfolio than expected; changes in management’s estimate of the adequacy of the allowance for credit losses; legislative or regulatory changes or changes in accounting principles, policies or guidelines; and the impacts of recent bank failures.

Any forward-looking statement made in this release is based only on information currently available to management and speaks only as of the date on which it is made. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements or to conform such forward-looking statements to actual results or to changes in its opinions or expectations, except as required by law.

INVESTOR RELATIONS CONTACT

Kevin Mc Cabe
Bank of Southern California
kmccabe@banksocal.com
818.637.7065