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 (OTC: SCZC) reported record financial results for Q2 2022, with net income of $6.37 million, an 18% increase from Q1 2022 and a 20% year-over-year growth. Assets reached $1.76 billion, representing an 8% increase from the previous year. Gross loans rose 19% to $1.19 billion, while deposits grew 9% to $1.56 billion. The bank's net interest margin was 3.90%, slightly down from 4.07% year-on-year. The launch of a new Asset-Based Lending Division aims to diversify offerings and enhance growth prospects.
Santa Cruz County Bank (OTCQX:SCZC) announced a quarterly cash dividend of $0.11 per share, marking a 22% increase, payable on July 11, 2022. The bank reported $5.4 million in net income for Q1 2022, up 15% compared to the prior quarter. With assets exceeding $1.7 billion, shareholders' equity rose to $182.9 million. The book value per share increased to $21.42, reflecting growth of $0.99 year-over-year.
Santa Cruz County Bank (OTCQX: SCZC) announced the appointment of Randy Lagomarsino as Vice President and Senior Relationship Manager for its Silicon Valley region. Based in Cupertino, he brings 17 years of banking experience, having held key positions at major financial institutions including Wells Fargo and US Bank. His expertise in sales and lending is expected to enhance the bank's business development efforts in the Greater Bay Area. Executive Vice President Jon Sisk expressed confidence in Lagomarsino's alignment with the bank's relationship-focused mission.
Santa Cruz County Bank (OTCQX: SCZC) has appointed Maxwell Sinclair as Executive Vice President and Chief Risk Officer, effective immediately. Sinclair brings 28 years of executive-level experience in risk management, compliance, and human resources, previously serving at Pacific Mercantile Bancorp. His role is pivotal as the bank prepares for an upcoming FDIC examination. President Krista Snelling praised Sinclair's expertise, noting its critical role in enhancing operational success. The bank, founded in 2004, is known for its community-focused services and strong local ties.
Santa Cruz County Bank (OTCQX: SCZC) reported record assets of $1.723 billion and deposits of $1.524 billion for Q1 2022. The net income for the quarter was $5.4 million, a 15% increase from the previous quarter but 7% lower year-over-year, affected by reduced PPP fee income. Loan growth (excluding PPP) surged by 24%, totaling $1.14 billion. The bank's net interest margin was 3.76%, down from 4.10% in Q1 2021. Notably, it maintained strong asset quality with just $59 thousand in nonaccrual loans and all capital ratios surpassing regulatory standards.
Santa Cruz County Bank (OTCQX: SCZC), with $1.70 billion in assets, has promoted Mary Anne Carson to Executive Vice President and Chief Marketing Officer. Carson, a vital part of the bank since its inception in 2003, has extensive experience in various banking functions. Her role involves significant projects such as branding, community development, and managing shareholder relations. The bank's President commended her leadership as essential for the bank's growth and success. Santa Cruz County Bank offers a range of financial services and is recognized as a leading SBA lender in the region.
Santa Cruz County Bank (OTCQX: SCZC) announced a quarterly cash dividend of $0.09 per share, payable on April 4, 2022, to shareholders of record by March 29, 2022. This dividend follows a recent 2-for-1 stock split increasing the number of shares from approximately 4.27 million to over 8.5 million. The Bank reported a 21% increase in net income for the twelve months ending December 31, 2021, totaling $21.3 million, marking a strong performance.
Santa Cruz County Bank (OTCQX: SCZC), headquartered in Santa Cruz, California, announced a 2-for-1 stock split on March 14, 2022, for shareholders of record as of March 3, 2022. This marks the bank's first stock split, increasing outstanding shares from approximately 4.25 million to over 8.5 million. Chairman William J. Hansen stated the split aims to enhance market liquidity. The bank reported a 21% rise in net income for 2021, reaching $21.3 million, compared to $17.6 million in 2020.
Santa Cruz County Bank (OTCQX:SCZC), with assets exceeding $1.7 billion, announces the appointment of Paul Happach as Senior Vice President and Product and Digital Transformation Manager. Happach, who has 24 years of banking experience, previously worked at Pacific Mercantile Bank and Rabobank, focusing on online banking and e-channel products. His expertise in project management and digital transformation is anticipated to enhance the Bank's offerings. The Bank operates multiple branches and is recognized for its community-focused services, including being a leading SBA lender in the region.
Santa Cruz County Bank (OTCQX: SCZC) reported record net income of $21.3 million for 2021, marking a 21% increase from the prior year. Fourth quarter net income was $4.7 million. Total assets grew to $1.701 billion, a 20% increase year-over-year, driven by 25% growth in deposits and 21% growth in gross loans. Basic earnings per share rose to $1.11 for Q4 and $5.01 for 2021. Despite a slight decline in net interest margin to 3.78%, the bank maintains strong credit quality with minimal nonaccrual loans. The bank plans to open a new branch in Salinas by Q3 2022.
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