Beach Cities Commercial Bank Announces First Quarter 2026 Financial Results
Significant items for the period include:
-
Total assets were
$182.5 million $5.7 million 3% growth). On a twelve-months basis, total assets increased by$28.6 million 19% growth) from March 31, 2025. -
Gross loans were
$149.8 million $5.8 million 4% growth). Compared to March 31, 2025, gross loans increased$26.3 million 21% ). As of March 31, 2026, the Bank had no delinquent and no non-performing loans outstanding. -
Total deposits were
$139.6 million $3.9 million 3% ). However, on a twelve-month basis, total deposits grew by$7.5 million 6% ). Generally, during the first quarter, deposit balances are reduced due to tax payments. -
Net loss was
$151.8 k$117.6 k$90 k$61 k -
Total liquidity remains high at
$28.3 million 15.5% of the Bank's total assets. The Bank also maintains contingent available borrowing sources at$22 million 12% of total assets. -
The loan portfolio average yield was
7.26% which contributed to a healthy net interest margin at3.75% as of March 31, 2026. -
The Bank maintains a reserve for credit losses of
$1.412 million 0.94% of total loans. Excluding loans held-for-sale, the reserve for credit losses is1.09% . As of March 31, 2026, the Bank’s balance sheet had no delinquent and non-performing assets.
The shareholders’ equity was
During the first quarter of 2026 the total interest income was
In the first quarter of 2026, the Bank sold loans which netted gains of
Total operating expenses for the first quarter of 2026 were
As noted above, the Bank’s liquidity remains above
“The Bank continues to focus on growing its core earning assets with the goal of increasing core earnings. The Bank’s first quarter of 2026 net interest income grew
“The Bank’s asset quality continues to remain strong with no delinquent and non-performing loans on its balance sheet. Our quality deal flow for both loans and deposits looks strong,” commented Matt Blackmer, Chief Credit Officer.
“We are extremely fortunate and pleased with Thomas Inserra’s leadership and the entire Executive Management Team; it’s through their hard work and dedication we’ve grown in a safe manner,” commented Angela Bienert, Chair, Board of Directors.
Beach Cities Commercial Bank is a full-service bank, serving the business, commercial and professional markets. The Bank meets the financial needs of its business clients with loans for working capital, equipment, owner-occupied and investment commercial real estate, and a full array of cash management services and deposit products for businesses and their owners. Beach Cities Commercial Bank meets its clients’ needs through its head office and branch in
FORWARD-LOOKING STATEMENT: This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified using words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "likely", "may", "outlook", "plan" ,"potential", "predict", "project", "should", "will", "would", and similar terms and phrases. including references to assumptions. Forward-looking statements are based upon various assumptions and analyses made by the Bank (which includes the Bank) considering management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements do not guarantee future performance and are subject to risks, uncertainties, and other factors (many of which are beyond the Bank's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect the Bank's results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Bank's control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may reduce interest margins; changes in deposit flows, loan demand or real estate values may adversely affect the business of the Bank; unanticipated or significant increases in loan losses; changes in accounting principles, policies or guidelines may cause the Bank's financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Bank's financial condition or results of operations; general economic conditions, either nationally or locally in some or all areas in which the Bank conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Bank currently anticipates; legislation or regulatory changes may adversely affect the Bank's business; technological changes may be more difficult or expensive than the Bank anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Bank anticipates; or litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Bank anticipates.
Beach Cities Commercial Bank Unaudited Statement of Financial Condition |
|||||||||||||||||||
Assets |
As of March 31, 2026 |
As of March 31, 2025 |
12 Months Growth |
12 Months Growth % |
As of December 31, 2025 |
Quarterly Growth $ |
Quarterly Growth % |
||||||||||||
| Total Cash and Due From | $ |
28,278,480 |
|
$ |
27,316,390 |
|
$ |
962,090 |
|
4 |
% |
$ |
28,312,636 |
|
$ |
(34,156 |
) |
(0 |
%) |
| US Treasury Securities |
|
1,001,019 |
|
|
994,195 |
|
|
6,824 |
|
1 |
% |
|
1,003,574 |
|
|
(2,555 |
) |
(0 |
%) |
| Mortgage Backed Securities |
|
1,271,457 |
|
|
- |
|
|
1,271,457 |
|
0 |
% |
|
1,282,672 |
|
|
(11,216 |
) |
(1 |
%) |
| FHLB Stock |
|
702,000 |
|
|
124,800 |
|
|
577,200 |
|
463 |
% |
|
572,000 |
|
|
130,000 |
|
23 |
% |
Total Investments |
|
2,974,476 |
|
|
1,118,995 |
|
|
1,855,481 |
|
166 |
% |
|
2,858,247 |
|
|
116,229 |
|
4 |
% |
| Gross Loans |
|
149,815,435 |
|
|
123,482,780 |
|
|
26,332,655 |
|
21 |
% |
|
144,052,034 |
|
|
5,763,401 |
|
4 |
% |
| Allowance for Credit Losses |
|
(1,412,000 |
) |
|
(1,214,000 |
) |
|
(198,000 |
) |
(16 |
%) |
|
(1,412,000 |
) |
|
- |
|
0 |
% |
Net Loans |
|
148,403,435 |
|
|
122,268,780 |
|
|
26,134,655 |
|
21 |
% |
|
142,640,034 |
|
|
5,763,401 |
|
4 |
% |
| Total Fixed Assets |
|
108,051 |
|
|
177,566 |
|
|
(69,515 |
) |
(39 |
%) |
|
127,674 |
|
|
(19,624 |
) |
(15 |
%) |
| Right of Use Assets |
|
915,053 |
|
|
1,295,007 |
|
|
(379,954 |
) |
(29 |
%) |
|
1,012,073 |
|
|
(97,020 |
) |
(10 |
%) |
| Prepaid |
|
1,045,527 |
|
|
1,034,002 |
|
|
11,525 |
|
1 |
% |
|
1,067,474 |
|
|
(21,947 |
) |
(2 |
%) |
| Total Other Assets |
|
748,448 |
|
|
634,225 |
|
|
114,223 |
|
18 |
% |
|
719,044 |
|
|
29,404 |
|
4 |
% |
Total Assets |
$ |
182,473,470 |
|
$ |
153,844,966 |
|
$ |
28,628,504 |
|
19 |
% |
$ |
176,737,183 |
|
$ |
5,736,287 |
|
3 |
% |
| Demand Deposit Accounts | $ |
18,159,276 |
|
$ |
21,390,859 |
|
$ |
(3,231,584 |
) |
(15 |
%) |
$ |
20,790,376 |
|
$ |
(2,631,101 |
) |
(13 |
%) |
| NOW Accounts |
|
665,617 |
|
|
1,000,890 |
|
|
(335,273 |
) |
(33 |
%) |
|
880,668 |
|
|
(215,051 |
) |
(24 |
%) |
| Money Market Accounts |
|
52,786,583 |
|
|
52,781,634 |
|
|
4,949 |
|
0 |
% |
|
55,195,257 |
|
|
(2,408,674 |
) |
(4 |
%) |
| Total Demand Deposits |
|
71,611,476 |
|
|
75,173,384 |
|
|
(3,561,908 |
) |
(5 |
%) |
|
76,866,302 |
|
|
(5,254,826 |
) |
(7 |
%) |
| Savings Accounts |
|
5,059,581 |
|
|
5,064,038 |
|
|
(4,458 |
) |
(0 |
%) |
|
5,061,600 |
|
|
(2,019 |
) |
(0 |
%) |
| Total CDs |
|
62,892,902 |
|
|
51,813,215 |
|
|
11,079,687 |
|
21 |
% |
|
61,583,728 |
|
|
1,309,174 |
|
2 |
% |
Total Deposits |
|
139,563,958 |
|
|
132,050,638 |
|
|
7,513,321 |
|
6 |
% |
|
143,511,629 |
|
|
(3,947,671 |
) |
(3 |
%) |
| Other Borrowed < 1 Yr |
|
25,000,000 |
|
|
4,000,000 |
|
|
21,000,000 |
|
525 |
% |
|
16,000,000 |
|
|
9,000,000 |
|
56 |
% |
Total Borrowings |
|
25,000,000 |
|
|
4,000,000 |
|
|
21,000,000 |
|
525 |
% |
|
16,000,000 |
|
|
9,000,000 |
|
56 |
% |
| Accrued Interest Payable |
|
111,342 |
|
|
118,686 |
|
|
(7,344 |
) |
(6 |
%) |
|
115,697 |
|
|
(4,356 |
) |
(4 |
%) |
| Accrued Expenses |
|
363,200 |
|
|
417,947 |
|
|
(54,747 |
) |
(13 |
%) |
|
346,330 |
|
|
16,870 |
|
5 |
% |
| Premise Lease Liability |
|
1,000,718 |
|
|
1,392,669 |
|
|
(391,951 |
) |
(28 |
%) |
|
1,102,793 |
|
|
(102,075 |
) |
(9 |
%) |
| Miscellaneous Liabilities |
|
731,352 |
|
|
775,799 |
|
|
(44,447 |
) |
(6 |
%) |
|
824,503 |
|
|
(93,151 |
) |
(11 |
%) |
| Total Other Liabilities |
|
2,206,611 |
|
|
2,705,101 |
|
|
(498,490 |
) |
(18 |
%) |
|
2,389,323 |
|
|
(182,712 |
) |
(8 |
%) |
Total Liabilities |
|
166,770,569 |
|
|
138,755,739 |
|
|
28,014,830 |
|
20 |
% |
|
161,900,952 |
|
|
4,869,617 |
|
3 |
% |
| Common Stock |
|
26,072,485 |
|
|
25,116,895 |
|
|
955,590 |
|
4 |
% |
|
25,142,838 |
|
|
929,647 |
|
4 |
% |
| Additional Paid in Capital |
|
750,089 |
|
|
569,067 |
|
|
181,022 |
|
32 |
% |
|
676,328 |
|
|
73,761 |
|
11 |
% |
| APIC - Warrants |
|
26,544 |
|
|
- |
|
|
26,544 |
|
0 |
% |
|
- |
|
|
26,544 |
|
0 |
% |
| Retained Earnings |
|
(10,961,060 |
) |
|
(10,355,311 |
) |
|
(605,749 |
) |
(6 |
%) |
|
(10,355,311 |
) |
|
(605,749 |
) |
(6 |
%) |
| FAS 115 Unrealized Gain/Loss |
|
(33,384 |
) |
|
460 |
|
|
(33,845 |
) |
(7,352 |
%) |
|
(21,875 |
) |
|
(11,510 |
) |
(53 |
%) |
| Profit/Loss YTD |
|
(151,773 |
) |
|
(241,884 |
) |
|
90,111 |
|
37 |
% |
|
(605,749 |
) |
|
453,976 |
|
75 |
% |
| Total Equity |
|
15,702,900 |
|
|
15,089,227 |
|
|
613,674 |
|
4 |
% |
|
14,836,231 |
|
|
866,670 |
|
6 |
% |
Total Liabilities & Equity |
$ |
182,473,470 |
|
$ |
153,844,966 |
|
$ |
28,628,504 |
|
19 |
% |
$ |
176,737,183 |
|
$ |
5,736,286 |
|
3 |
% |
| BEACH CITIES COMMERCIAL BANK | |||||||||||||||||||||||
| UNAUDITED STATEMENT OF OPERATIONS | |||||||||||||||||||||||
|
For the Three Months Ended |
|
|
For the Twelve Months Ended |
For the Twelve Months Ended |
||||||||||||||||||
| March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2025 | December 31, 2024 | |||||||||||||||||
| Interest Income: | |||||||||||||||||||||||
| Interest and fees on loans | $ |
2,667,728 |
|
$ |
2,568,060 |
|
$ |
2,489,713 |
$ |
2,515,860 |
|
$ |
2,062,683 |
|
$ |
9,636,316 |
|
$ |
4,692,037 |
|
|||
| Interest on securities |
|
50,194 |
|
|
28,624 |
|
|
20,678 |
|
|
18,549 |
|
|
13,586 |
|
$ |
81,437 |
|
|
54,054 |
|
||
| Interest on federal funds sold and other interest-bearing deposits |
|
244,528 |
|
|
268,782 |
|
|
293,442 |
|
|
231,188 |
|
|
207,270 |
|
$ |
1,000,682 |
|
|
860,018 |
|
||
Total Interest Income |
|
2,962,450 |
|
|
2,865,466 |
|
|
2,803,833 |
|
|
2,765,597 |
|
|
2,283,539 |
|
|
10,718,435 |
|
|
5,606,109 |
|
||
| Interest Expense: | |||||||||||||||||||||||
| Interest on Deposits |
|
1,106,389 |
|
|
1,174,229 |
|
|
1,249,943 |
|
|
1,212,316 |
|
|
1,074,406 |
|
$ |
4,710,894 |
|
|
2,404,973 |
|
||
| Interest on Borrowings |
|
198,524 |
|
|
101,558 |
|
|
55,723 |
|
|
47,128 |
|
|
4,968 |
|
$ |
209,377 |
|
|
12,941 |
|
||
Total Interest Expense |
|
1,304,913 |
|
|
1,275,787 |
|
|
1,305,666 |
|
|
1,259,444 |
|
|
1,079,374 |
|
|
4,920,271 |
|
|
2,417,914 |
|
||
Net Interest Income |
|
1,657,537 |
|
|
1,589,679 |
|
|
1,498,167 |
|
|
1,506,153 |
|
|
1,204,165 |
|
|
5,798,164 |
|
|
3,188,195 |
|
||
| Provisions for Credit Losses |
|
- |
|
|
140,000 |
|
|
- |
|
|
64,000 |
|
|
- |
|
$ |
204,000 |
|
|
927,000 |
|
||
| Net interest income after provisions for credit losses |
|
1,657,537 |
|
|
1,449,679 |
|
|
1,498,167 |
|
|
1,442,153 |
|
|
1,204,165 |
|
|
5,594,164 |
|
|
2,261,195 |
|
||
| Non-interest income: | |||||||||||||||||||||||
| Service charges, fees and other |
|
35,785 |
|
|
42,864 |
|
|
35,531 |
|
|
9,656 |
|
|
7,769 |
|
$ |
95,820 |
|
|
18,662 |
|
||
| Gain on sale of loans |
|
47,690 |
|
|
7,858 |
|
|
25,000 |
|
|
168,249 |
|
|
255,034 |
|
$ |
456,141 |
|
|
127,399 |
|
||
Non-interest income |
|
83,475 |
|
|
50,722 |
|
|
60,531 |
|
|
177,905 |
|
|
262,803 |
|
|
551,961 |
|
|
146,061 |
|
||
| Non-Interest expense: | |||||||||||||||||||||||
| Salaries and employee benefits |
|
1,136,392 |
|
|
899,759 |
|
|
919,692 |
|
|
1,167,215 |
|
|
1,134,486 |
|
$ |
4,121,152 |
|
|
4,481,445 |
|
||
| Occupancy and Equipment expenses |
|
165,273 |
|
|
167,535 |
|
|
177,127 |
|
|
171,924 |
|
|
167,812 |
|
$ |
684,398 |
|
|
691,504 |
|
||
| Data Processing |
|
203,160 |
|
|
206,470 |
|
|
193,433 |
|
|
192,403 |
|
|
150,569 |
|
$ |
742,875 |
|
|
628,030 |
|
||
| Legal |
|
15,000 |
|
|
16,050 |
|
|
14,500 |
|
|
49,198 |
|
|
16,485 |
|
$ |
96,233 |
|
|
94,948 |
|
||
| Professional/Consulting |
|
48,353 |
|
|
55,893 |
|
|
8,020 |
|
|
100,652 |
|
|
41,749 |
|
$ |
206,314 |
|
|
349,502 |
|
||
| Other Expenses |
|
324,606 |
|
|
272,291 |
|
|
231,461 |
|
|
198,597 |
|
|
197,752 |
|
$ |
900,101 |
|
|
684,053 |
|
||
Total Non-interest expense |
|
1,892,784 |
|
|
1,617,998 |
|
|
1,544,233 |
|
|
1,879,989 |
|
|
1,708,853 |
|
|
6,751,073 |
|
|
6,929,482 |
|
||
| Income (Loss) before taxes |
|
(151,772 |
) |
|
(117,597 |
) |
|
14,465 |
|
|
(259,931 |
) |
|
(241,885 |
) |
$ |
(604,948 |
) |
|
(4,522,226 |
) |
||
| Income tax expense |
|
- |
|
|
- |
|
|
- |
|
|
800 |
|
|
- |
|
$ |
800 |
|
|
1,600 |
|
||
Net Income (Loss) |
$ |
(151,772 |
) |
$ |
(117,597 |
) |
$ |
14,465 |
|
$ |
(260,731 |
) |
$ |
(241,885 |
) |
$ |
(605,748 |
) |
$ |
(4,523,826 |
) |
||
| Earnings per share ("EPS"): Basic | $ |
(0.06 |
) |
$ |
(0.05 |
) |
$ |
0.01 |
|
$ |
(0.10 |
) |
$ |
(0.09 |
) |
$ |
(0.24 |
) |
$ |
(1.76 |
) |
||
| Common Shares Outstanding |
|
2,627,385 |
|
|
2,568,395 |
|
|
2,568,395 |
|
|
2,565,864 |
|
|
2,565,864 |
|
|
2,565,864 |
|
|
2,565,864 |
|
||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260506901330/en/
Najam Saiduddin, CFO/EVP
najam@beachcitiescb.com
949.704.2275
Source: Beach Cities Commercial Bank