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 (OTCQX: SCZC), parent of West Coast Community Bank, regularly issues news and updates covering its community banking operations along California’s Central Coast and in Silicon Valley. This news page aggregates company press releases and media coverage related to SCZC and, after the announced change, its new ticker symbol WCCB.
Company announcements highlight topics such as quarterly and annual earnings, dividend declarations, share repurchase programs and details of mergers, including the completed merger with 1st Capital Bancorp. Earnings releases discuss loan growth in areas like commercial and industrial lending, construction lending, agricultural lending and asset-based lending, as well as deposit trends, net interest margin, liquidity and capital ratios.
News items also cover strategic developments in branding and corporate identity. The Bank has reported its transition from the Santa Cruz County Bank name to West Coast Community Bank, with the new brand taking effect on April 1, 2025, and a related ticker symbol change from SCZC to WCCB on OTCQX. Other releases describe board of directors changes, senior leadership appointments in marketing and regional banking roles and the planned retirement of long-serving executives.
Community and recognition stories appear as well, including Santa Cruz County Bank being named one of America’s Best Regional Banks 2025 by Newsweek and Plant-A Insights Group. These items underscore the Bank’s positioning as a top-rated, locally operated, full-service community bank headquartered in Santa Cruz, California, with branches in Aptos, Capitola, Cupertino, King City, Monterey, Salinas, San Luis Obispo, Santa Cruz, Scotts Valley and Watsonville.
Investors, depositors and community members can use this news feed to follow developments in West Coast Community Bancorp’s financial performance, corporate actions, regional expansion, rebranding efforts and community engagement over time.
Santa Cruz County Bank (OTC: SCZC), boasting over $1.5 billion in assets, has announced the acquisition of a building in Salinas, California, to establish its ninth full-service branch in 2022. The location, built in the 1970s, will undergo a remodel to create a modern banking facility, contributing to the city's Downtown Salinas Vibrancy Plan. CEO William J. Hansen highlighted that this move supports their strategic expansion into the Monterey County market.
Santa Cruz County Bank (OTC: SCZC) reports record unaudited earnings for Q1 2021, with net income rising 32% to $5.8 million compared to Q1 2020. Assets grew by 45% year-over-year to $1.55 billion, driven by significant loan origination through the PPP program. Deposits reached $1.36 billion, up 51% from the previous year. The bank maintained strong credit quality, with only one loan on nonaccrual. The efficiency ratio improved to 45.60%. However, net interest margin decreased to 4.10%, down from 4.51% in the previous year. The bank continues to support local businesses while expanding its operations.
Santa Cruz County Bank (OTC: SCZC) announced the retirement of founding Director Tila Banuelos and founding Chairman George Gallucci, effective May 26, 2021. Both have been pivotal in the bank's growth since its inception in 2004.
Chairman William J. Hansen expressed gratitude for their contributions. Banuelos has a robust background in banking, while Gallucci has extensive experience in investment advising. The bank, with assets over $1.4 billion, emphasizes community service and ranks highly among California community banks.
Santa Cruz County Bank (OTC: SCZC), with assets over $1.4 billion, announces an expansion of its SBA Lending Department by hiring three business development officers, two processors, and an underwriter. This expansion reflects the bank's commitment to support small businesses, especially during challenging times. The bank has a robust reputation for assisting borrowers via Paycheck Protection Program loans and other resources. The new hires bring extensive experience in small business lending across various regions, which is expected to enhance the bank's service delivery.
Santa Cruz County Bank (OTC Pink: SCZC) reported a 33% increase in its quarterly dividend, raising it from $.075 to $.10 per share, payable on April 5, 2021. The bank achieved a record net income of $17.5 million for 2020, a 43% increase from the previous year. The return on average equity stood at 10.92%, and shareholders' equity rose to $168.5 million. This strong financial performance supports the bank's growth plans while rewarding shareholders.
Santa Cruz County Bank (OTC Pink: SCZC), with assets nearing $1.4 billion, has declared a quarterly cash dividend of $0.075 per share, payable on October 12, 2020, to shareholders recorded by September 30, 2020. For the quarter ending June 30, 2020, the bank reported $3.8 million in net income, marking a 16% increase year-over-year. The return on average equity was 9.65%, and shareholders' equity rose by $84.9 million compared to the previous year.