Welcome to our dedicated page for West Coast Community Bancorp news (Ticker: SCZC), a resource for investors and traders seeking the latest updates and insights on West Coast Community Bancorp stock.
West Coast Community Bancorp (SCZC), the holding company for Santa Cruz County Bank, provides relationship-driven community banking services across California. This page serves as the definitive source for SCZC news, offering investors and stakeholders timely updates on financial developments and strategic initiatives.
Access official press releases covering earnings results, merger integrations, product innovations, and community engagement efforts. Stay informed about key operational areas including SBA lending programs, risk management practices, and liquidity strategies that shape the company’s regional impact.
Key updates on SCZC’s merger-driven growth, deposit service enhancements, and technology investments provide insights into its market position. Content reflects the institution’s commitment to personalized service and financial stewardship within the competitive community banking sector.
Bookmark this page for direct access to primary source materials and curated updates essential for understanding SCZC’s operational trajectory. Regularly updated content ensures stakeholders maintain current awareness of this California-focused financial institution’s evolving story.
Santa Cruz County Bank (OTCQX: SCZC) reported a strong performance for Q1 2023. Net income reached $8.9 million, reflecting a 65% increase year-over-year but a 11% decrease from the previous quarter. The bank's gross loans hit a record $1.3 billion, up 15% compared to Q1 2022, while total assets reached $1.73 billion. Despite a 4% decline in deposits, driven by large depositors' business cycles, liquidity remains robust with a primary liquidity ratio of 16.1%. Earnings per share improved by $0.42 year-over-year but fell $0.13 from the previous quarter. The bank maintains a solid credit quality with nonaccrual loans at 0.20% of gross loans. Santa Cruz County Bank was also ranked #6 among community banks in the nation by S&P Global Market Intelligence, marking its sixth consecutive year in the Top 100.
Santa Cruz County Bank (OTCQX: SCZC) has announced the appointment of Michael Davis Luong as Vice President and Senior Relationship Manager for the Silicon Valley region, effective April 19, 2023. Based in Cupertino, Luong will focus on new business acquisition, lending, and business development in the Greater Bay Area. He brings 18 years of banking experience, previously serving in significant roles at Meriwest Credit Union and Silicon Valley Bank, where he managed a commercial real estate portfolio exceeding $500 million. Jon Sisk, Executive Vice President, expressed enthusiasm for Luong's expertise in commercial lending and business development, indicating potential growth for the bank in the region.
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