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WEST COAST COMMTY BANCP - $SCZC STOCK NEWS

Welcome to our dedicated page for WEST COAST COMMTY BANCP news (Ticker: $SCZC), a resource for investors and traders seeking the latest updates and insights on WEST COAST COMMTY BANCP stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect WEST COAST COMMTY BANCP's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Santa Cruz County Bank, with assets over $1.7 billion, has welcomed Natalie E. Taaffe as Senior Vice President, Senior Relationship Manager. Taaffe brings 38 years of industry experience, specializing in construction real estate lending. She will be serving clients in the Greater Bay Area from the Bank's Cupertino office in Silicon Valley.

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West Coast Community Bancorp, the parent company of Santa Cruz County Bank, reported unaudited earnings for the first quarter ended March 31, 2024. Net income was $9.3 million, a 5% increase from the prior quarter and the same period in 2023. The company declared a quarterly cash dividend of $0.17 per common share. Financial highlights included a decrease in total assets to $1.71 billion, a decrease in deposits to $1.46 billion, and a decrease in gross loans to $1.38 billion. Nonperforming loans were reduced to $90 thousand or 0.01% of total loans. The company's liquidity position and capital ratios remained strong. Net interest margin was 4.86%, return on average assets was 2.14%, and efficiency ratio was 42.81%. Tangible book value per share increased to $25.05. Noninterest income was $1.0 million, and noninterest expense was $9.1 million. The loan portfolio mix showed a decrease in various loan categories. Shareholders' equity increased to $238.1 million.
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West Coast Community Bancorp, the parent company of Santa Cruz County Bank, announced record earnings for the year ended December 31, 2023, with a $35.2 million net income, a 14% increase over 2022. The Board declared a quarterly cash dividend of $0.17 per common share, an increase of $0.01 per share from the prior quarter, payable on February 14, 2024, to shareholders of record at the close of business on February 8, 2024.
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West Coast Community Bancorp (SCZC) has been named to the 2024 OTCQX Best 50, ranking 37th with a 22% return to shareholders in 2023. This confirms the Bank's strong financial performance and commitment to building shareholder value.
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Santa Cruz County Bank (OTCQX: SCZC) closed 23 loans, providing over $22 million in lending in Silicon Valley for the SBA's 2023 fiscal year. The bank ranks #1 for the number of SBA loans and #3 for total dollar volume of SBA loans in Silicon Valley. With assets of $1.77 billion, Santa Cruz County Bank is a top-rated community bank headquartered in Santa Cruz County. The bank made 23 loans totaling $22.58 million in volume in Silicon Valley, including Santa Clara, Santa Cruz, and Monterey Counties. SVP, Director of SBA Lending, Susan Chandler, highlighted the bank's commitment to supporting small businesses for economic development and job growth.
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West Coast Community Bancorp, the parent company of Santa Cruz County Bank, announced unaudited earnings for Q3 2023 of $9.1M, a 10% increase from the previous quarter. Basic and diluted earnings per share also improved. The Board of Directors declared a quarterly cash dividend of $0.16 per share, an increase of $0.01 per share from the prior quarter.
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Santa Cruz County Bank receives national recognitions from American Banker Magazine
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Santa Cruz County Bank completes holding company reorganization with West Coast Community Bancorp
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Santa Cruz County Bank (SCZC) announced unaudited earnings for the quarter ended June 30, 2023. Net income was $8.3 million, up 31% from the prior year. Gross loans set a quarterly record, and the Bank remains focused on profitability, credit quality, and enterprise risk management. The Bank was listed in American Banker Magazine's Top 200 Community Banks & Thrifts in the United States.
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WEST COAST COMMTY BANCP

OTC:SCZC

SCZC Rankings

SCZC Stock Data

234.88M
7.86M
9.71%
Commercial Banking
Finance and Insurance
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United States of America
Santa Cruz