West Coast Community Bancorp Announces Annual Shareholder Voting Results

Rhea-AI Summary

West Coast Community Bancorp (OTCQX: SCZC) reported results of its April 23, 2026 annual meeting where 8,441,376 shares (80.55% outstanding) were voted. All 11 director nominees were elected. Shareholders approved indemnification agreements, eliminated written-consent actions, and appointed Crowe LLP; an amendment to eliminate cumulative voting failed.

AI-generated analysis. Not financial advice.

Positive

• All 11 director nominees elected with majority plurality support
• Indemnification agreements ratified by shareholders
• Amendment to remove shareholder written-consent approved (majority shares)
• Crowe LLP appointed as independent registered public accounting firm for 2026

Negative

• Amendment to eliminate cumulative voting failed despite 79.62% votes cast For
• Significant broker non-votes: 1,929,076 shares (18.41% outstanding)

News Market Reaction – WCCB

+1.65%

1 alert

+1.65% News Effect

On the day this news was published, WCCB gained 1.65%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares represented: 8,441,376 shares Participation rate: 80.55% Shares outstanding: 10,480,171 shares +5 more

8 metrics

Shares represented 8,441,376 shares Annual meeting attendance; 2026 shareholder vote

Participation rate 80.55% Percent of 10,480,171 shares outstanding represented at meeting

Shares outstanding 10,480,171 shares Issued and outstanding shares entitled to vote

Board nominees 11 directors Number of nominees elected under Proposal 1

Indemnification approval 5,885,125 shares for (90.37%) Proposal 2 votes cast in favor

Cumulative voting support 5,185,111 shares for (79.62%) Proposal 3; support did not reach majority of shares outstanding

Written consent elimination 5,656,746 shares for (86.86%) Proposal 4; majority of shares outstanding approved

Auditor ratification 8,335,821 shares for (98.75%) Proposal 5 appointing Crowe LLP for 2026

Market Reality Check

Price: $49.30 Vol: Volume 8,120 is 2.88x the...

high vol

$49.30 Last Close

Volume Volume 8,120 is 2.88x the 20-day average 2,822, indicating elevated trading around the governance update. high

Technical Shares at $47.99 are trading above the 200-day MA of $42.94 and sit 1.54% below the 52-week high of $48.74, well above the 52-week low of $38.30.

Peers on Argus

WCCB gained 0.5% with elevated volume, while closely ranked regional bank peers ...

WCCB gained 0.5% with elevated volume, while closely ranked regional bank peers like ALPIB and DSBX showed only modest moves of 0.1% and 0.33%, and others were flat. This points to a company-specific response rather than a sector-wide move.

Historical Context

3 past events · Latest: Apr 21 (Positive)

Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Apr 21	Earnings and dividend	Positive	+0.6%	Q1 2026 earnings growth and dividend increase with higher net income and EPS.
Feb 12	Board changes	Positive	+0.1%	Election of two new directors and announcement of a longstanding director’s planned retirement.
Jan 27	Earnings and dividend	Positive	-0.4%	Strong Q4 and full-year 2025 earnings with dividend increase and balance sheet growth.

Pattern Detected

Recent news has been fundamentally positive (earnings growth, dividend increases, board changes), with generally mild price reactions and one divergence where strong earnings coincided with a small price decline.

Recent Company History

Over the past few months, WCCB highlighted improving fundamentals and board evolution. On Jan 27, 2026, it reported strong Q4 and full-year 2025 earnings with higher dividends and balance sheet growth, yet shares dipped slightly. On Feb 12, 2026, new directors were elected and a planned retirement announced, with a small positive move. On Apr 21, 2026, Q1 2026 earnings and another dividend increase saw a modest gain. Today’s governance-focused voting results fit into this pattern of steady corporate developments.

Market Pulse Summary

This announcement details shareholder voting on director elections and governance-related proposals,...

Analysis

This announcement details shareholder voting on director elections and governance-related proposals, including indemnification, voting structure, written consent, and auditor ratification. WCCB entered the event trading at $47.99, above its 200-day MA of $42.94 and close to its 52-week high of $48.74. Investors may monitor future earnings, dividend actions, and any additional governance changes to assess how these decisions interact with the bank’s growth trajectory.

Key Terms

indemnification agreements, cumulative voting, shareholder action by written consent, independent registered public accounting firm, +1 more

5 terms

indemnification agreements regulatory

"Shareholders ratified the proposal for indemnification agreements between the Company and its nonemployee directors"

Indemnification agreements are contracts in which one party agrees to pay for losses, legal costs, or damages another party might face — like a friend promising to cover repair bills if their dog breaks your window. For investors, these agreements matter because they determine who ultimately bears financial and legal risk, affecting a company’s potential liabilities, cash flow needs, and the willingness of executives or partners to take on roles or deals.

cumulative voting financial

"amendment of the Articles of Incorporation to eliminate cumulative voting"

A voting system for electing a company's board where each shareholder can pool all their votes and cast them for one or more board candidates rather than spreading votes evenly. Think of it like having 100 stickers you can put all on one favorite class representative instead of giving one sticker to each candidate. It matters to investors because it gives minority holders a realistic chance to secure board representation and influence company decisions, affecting governance, strategy and therefore investment value.

shareholder action by written consent regulatory

"amendment of the Articles of Incorporation to eliminate shareholder action by written consent"

A shareholder action by written consent is a way for owners of a company to approve corporate decisions by signing a document instead of meeting in person. It matters to investors because it can speed major changes (like board shifts or policy approvals), let a group push through actions without a public vote, and signal shifts in control or strategy that may affect the company's risk, governance and stock value—think of it as a signed petition replacing a town-hall vote.

independent registered public accounting firm regulatory

"appointment of Crowe LLP as the Bank's independent registered public accounting firm for 2026"

An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.

broker non-votes regulatory

"Broker Non-Votes | 1,929,076 | | 18.41"

Broker non-votes occur when a brokerage firm is unable to vote on a shareholder’s behalf during a company election or decision because the shareholder has not given specific voting instructions, and the broker is not allowed or chooses not to vote on certain matters. They are important because they can affect the outcome of votes, especially when the results are close, by effectively reducing the total number of votes cast.

AI-generated analysis. Not financial advice.

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SANTA CRUZ, Calif., April 23, 2026 /PRNewswire/ -- West Coast Community Bancorp ("Bancorp", OTCQX: WCCB), the parent company of West Coast Community Bank ("Bank"), headquartered in Santa Cruz, Calif., today announced the results of its annual election of directors and four additional proposals. A total of 8,441,376 shares were represented and voted at the meeting, constituting 80.55% of the 10,480,171 issued and outstanding shares entitled to vote at the meeting.

Proposal 1: Election of Directors
All 11 nominees for director as listed in the proxy statement for the annual meeting were elected pursuant to the vote of the shareholders. Nominees required a plurality of the votes cast for election.

Director	For	Percent of   Votes   Cast "For"	Withheld	Percent of   Votes   Withheld	Percent of    Shares  Outstanding
Judith N. Bornstein	6,339,437	97.35	172,863	2.65	60.49
Caroline D. Chapin	6,409,074	98.41	103,226	1.59	61.16
Kenneth R. Chappell	6,257,479	96.09	254,821	3.91	59.71
Wayne S. Doiguchi	6,238,532	95.80	273,768	4.20	59.53
Craig A. French	5,973,430	91.73	538,870	8.27	57.00
Kurt J. Gollnick	6,464,284	99.26	48,016	0.74	61.68
Daniel R. Hightower, M.D.	6,470,184	99.35	42,116	0.65	61.74
Alexander B. Potts	6,394,741	98.19	117,559	1.81	61.02
Gunlek L. Ruder	6,347,849	97.47	164,451	2.53	60.57
Krista Snelling	6,387,746	98.09	124,554	1.91	60.95
James L. Weisenstein	6,288,164	96.56	224,136	3.44	60.00

Proposal 2: Indemnification Agreements
Shareholders ratified the proposal for indemnification agreements between the Company and its nonemployee directors and executive officers. The proposal required a majority of the votes cast for approval.

	Shares	Percent of   Votes Cast	Percent of   Shares Outstanding
For	5,885,125	90.37	56.15
Against	410,579	6.30	3.92
Abstain	216,596	3.33	2.07
Broker Non-Votes	1,929,076		18.41

Proposal 3: Eliminate Cumulative Voting
Shareholders failed to approve the amendment of the Articles of Incorporation to eliminate cumulative voting. While 79.62% of votes cast supported the amendment, the proposal required a majority of the shares outstanding for approval.

	Shares	Percent of   Votes Cast	Percent of   Shares Outstanding
For	5,185,111	79.62	49.47
Against	1,241,661	19.07	11.85
Abstain	85,528	1.31	0.82
Broker Non-Votes	1,929,076		18.41

Proposal 4: Eliminate Shareholder Action by Written Consent
Shareholders approved the amendment of the Articles of Incorporation to eliminate shareholder action by written consent. The proposal required a majority of the shares outstanding for approval.

	Shares	Percent of  Votes Cast	Percent of Shares Outstanding
For	5,656,746	86.86	53.97
Against	736,576	11.31	7.03
Abstain	118,978	1.83	1.14
Broker Non-Votes	1,929,076		18.41

Proposal 5: Selection of Independent Public Accountants
Shareholders approved the appointment of Crowe LLP as the Bank's independent registered public accounting firm for 2026. The proposal required a majority of the votes cast for approval.

	Shares	Percent of   Votes Cast	Percent of   Shares Outstanding
For	8,335,821	98.75	79.54
Against	2,684	0.03	0.03
Abstain	102,871	1.22	0.98
Broker Non-Votes	0		0.00

ABOUT WEST COAST COMMUNITY BANCORP AND WEST COAST COMMUNITY BANK
Founded in 2004, West Coast Community Bank is the wholly owned subsidiary of West Coast Community Bancorp, a bank holding company. The Bank is a top-rated, locally operated and full-service community bank headquartered in Santa Cruz, Calif. with branches in Aptos, Capitola, Cupertino, King City, Monterey, Salinas, San Luis Obispo, Santa Cruz, Scotts Valley and Watsonville. West Coast Community Bank is distinguished from "big banks" by its relationship-based service, problem-solving focus and direct access to decision makers. The Bank is a leading SBA lender in Santa Cruz County and Silicon Valley. As a full-service bank, West Coast Community Bank offers competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction lending, asset-based lending, agricultural loans, SBA and USDA government guaranteed loans, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payment and treasury management. True to its community roots, West Coast Community Bank has supported regional well-being by actively participating in and donating to local nonprofit organizations. Visit wccb.com for more information.

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View original content to download multimedia:https://www.prnewswire.com/news-releases/west-coast-community-bancorp-announces-annual-shareholder-voting-results-302751350.html

SOURCE West Coast Community Bancorp

FAQ

How many shares voted at West Coast Community Bancorp (SCZC) annual meeting on April 23, 2026?

8,441,376 shares were represented and voted, equal to 80.55% of outstanding shares. According to the company, that figure reflects votes cast on director elections and four proposals at the annual meeting.

Were the West Coast Community Bancorp (SCZC) director nominees elected at the 2026 meeting?

Yes. All 11 nominees were elected pursuant to shareholder votes requiring a plurality. According to the company, each nominee received a majority of votes cast in their respective tallies.

What happened to the proposal to eliminate cumulative voting for West Coast Community Bancorp (SCZC)?

The amendment to eliminate cumulative voting failed because it did not receive a majority of shares outstanding. According to the company, 79.62% of votes cast were For, representing 49.47% of shares outstanding.

Did shareholders approve eliminating shareholder action by written consent for SCZC?

Yes. Shareholders approved the amendment to eliminate written-consent actions by a majority of shares outstanding. According to the company, the For votes represented 53.97% of shares outstanding.

Who will be the independent registered public accounting firm for West Coast Community Bancorp (SCZC) in 2026?

Crowe LLP was approved as the independent registered public accounting firm for 2026. According to the company, the appointment achieved 98.75% of votes cast, equaling 79.54% of shares outstanding.