Forward-Looking Statements<\/strong>
\nThis news release may contain comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) and Bank of Southern California intends for such forward-looking statements to be covered by the safe harbor provisions of that Act.<\/small><\/p>\nForward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Future events are difficult to predict. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the ability of the Bank to successfully execute its business plan; changes in interest rates and interest rate relationships; changes in demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking legislation or regulation; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; and changes in the national and local economy.<\/small><\/p>\n
Bank of Southern California undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n
Contact: Tony DiVita<\/strong>
\nBank of Southern California
\n(858) 847-4783
\ntdivita@banksocal.com<\/p>\n <\/p>\n
\n\n\n\nBank of Southern California<\/h3>\n Quarterly Financial Highlights
(Unaudited) <\/th>\n<\/tr>\n<\/thead>\n |
\n\n| <\/td>\n | <\/td>\n | Quarterly<\/strong><\/td>\n| <\/td>\n | 9 Months YTD<\/strong><\/td>\n<\/tr>\n\n| ($$ in thousands except per share data)<\/td>\n | 2018 <\/strong><\/td>\n2018 <\/strong><\/td>\n2018 <\/strong><\/td>\n2017 <\/strong><\/td>\n2017 <\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | 3rd Qtr<\/strong><\/td>\n2nd Qtr<\/strong><\/td>\n1st Qtr<\/strong><\/td>\n4th Qtr<\/strong><\/td>\n3rd Qtr<\/strong><\/td>\n| <\/td>\n | 2018 <\/strong><\/td>\n2017 <\/strong><\/td>\n<\/tr>\n\nEARNINGS<\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0Net interest income<\/td>\n | $<\/td>\n | 6,736<\/td>\n | 5,282<\/td>\n | 4,851<\/td>\n | 4,711<\/td>\n | 4,802<\/td>\n | <\/td>\n | 16,869<\/td>\n | 13,041<\/td>\n<\/tr>\n | \n| \u00a0Provision for loan losses<\/td>\n | $<\/td>\n | 450<\/td>\n | 400<\/td>\n | 300<\/td>\n | 0<\/td>\n | 0<\/td>\n | <\/td>\n | 1,150<\/td>\n | 271<\/td>\n<\/tr>\n | \n| \u00a0NonInterest income<\/td>\n | $<\/td>\n | 577<\/td>\n | 602<\/td>\n | 1,098<\/td>\n | 799<\/td>\n | 380<\/td>\n | <\/td>\n | 2,277<\/td>\n | 1,410<\/td>\n<\/tr>\n | \n| \u00a0NonInterest expense<\/td>\n | $<\/td>\n | 5,587<\/td>\n | 3,652<\/td>\n | 4,053<\/td>\n | 3,245<\/td>\n | 3,389<\/td>\n | <\/td>\n | 13,292<\/td>\n | 9,477<\/td>\n<\/tr>\n | \n| \u00a0Income tax expense<\/td>\n | $<\/td>\n | 401<\/td>\n | 526<\/td>\n | 524<\/td>\n | 1,132<\/td>\n | 705<\/td>\n | <\/td>\n | 1,451<\/td>\n | 1,872<\/td>\n<\/tr>\n | \n| \u00a0Net income<\/td>\n | $<\/td>\n | 875<\/td>\n | 1,306<\/td>\n | 1,072<\/td>\n | 1,134<\/td>\n | 1,088<\/td>\n | <\/td>\n | 3,253<\/td>\n | 2,830<\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0Basic earnings per share<\/td>\n | $<\/td>\n | 0.11<\/td>\n | 0.19<\/td>\n | 0.20<\/td>\n | 0.22<\/td>\n | 0.21<\/td>\n | <\/td>\n | 0.49<\/td>\n | 0.55<\/td>\n<\/tr>\n | \n| \u00a0Average shares outstanding<\/td>\n | <\/td>\n | 7,689,827<\/td>\n | 6,991,327<\/td>\n | 5,281,297<\/td>\n | 5,221,606<\/td>\n | 5,219,095<\/td>\n | <\/td>\n | 6,654,150<\/td>\n | 5,179,196<\/td>\n<\/tr>\n | \n| \u00a0Ending shares outstanding<\/td>\n | <\/td>\n | 8,398,092<\/td>\n | 6,998,750<\/td>\n | 6,953,720<\/td>\n | 5,223,627<\/td>\n | 5,221,197<\/td>\n | <\/td>\n | 8,398,092<\/td>\n | 5,221,197<\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \nPERFORMANCE RATIOS<\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0Return on average assets<\/td>\n | <\/td>\n | 0.52%<\/td>\n | 1.00%<\/td>\n | 0.90%<\/td>\n | 0.95%<\/td>\n | 0.96%<\/td>\n | <\/td>\n | 0.77%<\/td>\n | 0.87%<\/td>\n<\/tr>\n | \n| \u00a0Return on average common equity<\/td>\n | <\/td>\n | 3.77%<\/td>\n | 6.85%<\/td>\n | 8.53%<\/td>\n | 9.08%<\/td>\n | 8.93%<\/td>\n | <\/td>\n | 5.93%<\/td>\n | 8.10%<\/td>\n<\/tr>\n | \n| \u00a0Yield on loans<\/td>\n | <\/td>\n | 5.30%<\/td>\n | 5.38%<\/td>\n | 5.13%<\/td>\n | 4.94%<\/td>\n | 5.39%<\/td>\n | <\/td>\n | 5.26%<\/td>\n | 5.08%<\/td>\n<\/tr>\n | \n| \u00a0Yield on earning assets<\/td>\n | <\/td>\n | 4.87%<\/td>\n | 4.78%<\/td>\n | 4.78%<\/td>\n | 4.62%<\/td>\n | 4.85%<\/td>\n | <\/td>\n | 4.78%<\/td>\n | 4.58%<\/td>\n<\/tr>\n | \n| \u00a0Cost of deposits<\/td>\n | <\/td>\n | 0.72%<\/td>\n | 0.62%<\/td>\n | 0.53%<\/td>\n | 0.47%<\/td>\n | 0.41%<\/td>\n | <\/td>\n | 0.63%<\/td>\n | 0.36%<\/td>\n<\/tr>\n | \n| \u00a0Net interest margin<\/td>\n | <\/td>\n | 4.23%<\/td>\n | 4.22%<\/td>\n | 4.27%<\/td>\n | 4.17%<\/td>\n | 4.46%<\/td>\n | <\/td>\n | 4.21%<\/td>\n | 4.24%<\/td>\n<\/tr>\n | \n| \u00a0Efficiency ratio<\/td>\n | <\/td>\n | 76.40%<\/td>\n | 62.06%<\/td>\n | 68.13%<\/td>\n | 58.87%<\/td>\n | 65.40%<\/td>\n | <\/td>\n | 69.42%<\/td>\n | 65.58%<\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \nCAPITAL<\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0Tangible equity to tangible assets<\/td>\n | <\/td>\n | 11.14%<\/td>\n | 14.54%<\/td>\n | 14.14%<\/td>\n | 10.10%<\/td>\n | 10.12%<\/td>\n | <\/td>\n | 11.14%<\/td>\n | 10.12%<\/td>\n<\/tr>\n | \n| \u00a0Book value (BV) per common share<\/td>\n | $<\/td>\n | 11.77<\/td>\n | 11.00<\/td>\n | 10.79<\/td>\n | 9.51<\/td>\n | 9.31<\/td>\n | <\/td>\n | 11.77<\/td>\n | 9.31<\/td>\n<\/tr>\n | \n| \u00a0Tangible BV per common share<\/td>\n | $<\/td>\n | 9.49<\/td>\n | 10.81<\/td>\n | 10.59<\/td>\n | 9.25<\/td>\n | 9.04<\/td>\n | <\/td>\n | 9.49<\/td>\n | 9.04<\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \nASSET QUALITY<\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0Net loan charge-offs (recoveries)<\/td>\n | $<\/td>\n | (29)<\/td>\n | 341<\/td>\n | (9)<\/td>\n | 210<\/td>\n | (106)<\/td>\n | <\/td>\n | 304<\/td>\n | (95)<\/td>\n<\/tr>\n | \n| \u00a0Allowance for loan losses (ALLL)<\/td>\n | $<\/td>\n | 3,922<\/td>\n | 3,443<\/td>\n | 3,385<\/td>\n | 3,076<\/td>\n | 3,286<\/td>\n | <\/td>\n | 3,922<\/td>\n | 3,286<\/td>\n<\/tr>\n | \n| \u00a0ALLL to total loans<\/td>\n | <\/td>\n | 0.65%<\/td>\n | 0.83%<\/td>\n | 0.83%<\/td>\n | 0.77%<\/td>\n | 0.85%<\/td>\n | <\/td>\n | 0.65%<\/td>\n | 0.85%<\/td>\n<\/tr>\n | \n| \u00a0Loan fair value credit marks (LFVCM)<\/td>\n | $<\/td>\n | 2,834<\/td>\n | 681<\/td>\n | 759<\/td>\n | 779<\/td>\n | 847<\/td>\n | <\/td>\n | 2,834<\/td>\n | 847<\/td>\n<\/tr>\n | \n| \u00a0ALLL and LFVCM to total loans<\/td>\n | <\/td>\n | 1.11%<\/td>\n | 0.99%<\/td>\n | 1.01%<\/td>\n | 0.97%<\/td>\n | 1.07%<\/td>\n | <\/td>\n | 1.11%<\/td>\n | 1.07%<\/td>\n<\/tr>\n | \n| \u00a0Nonperforming loans<\/td>\n | $<\/td>\n | 3,733<\/td>\n | 2,747<\/td>\n | 1,272<\/td>\n | 1,362<\/td>\n | 1,086<\/td>\n | <\/td>\n | 3,733<\/td>\n | 1,086<\/td>\n<\/tr>\n | \n| \u00a0Other real estate owned<\/td>\n | $<\/td>\n | 0<\/td>\n | 0<\/td>\n | 0<\/td>\n | 0<\/td>\n | 0<\/td>\n | <\/td>\n | 0<\/td>\n | 0<\/td>\n<\/tr>\n | \n| \u00a0Nonperforming assets to total assets<\/td>\n | <\/td>\n | 0.51%<\/td>\n | 0.53%<\/td>\n | 0.24%<\/td>\n | 0.28%<\/td>\n | 0.23%<\/td>\n | <\/td>\n | 0.51%<\/td>\n | 0.23%<\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \nEND OF PERIOD BALANCES<\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0Total loans<\/td>\n | $<\/td>\n | 606,753<\/td>\n | 414,925<\/td>\n | 409,196<\/td>\n | 399,402<\/td>\n | 387,790<\/td>\n | <\/td>\n | 606,753<\/td>\n | 387,790<\/td>\n<\/tr>\n | \n| \u00a0Total assets<\/td>\n | $<\/td>\n | 734,923<\/td>\n | 521,437<\/td>\n | 522,118<\/td>\n | 479,512<\/td>\n | 467,976<\/td>\n | <\/td>\n | 734,923<\/td>\n | 467,976<\/td>\n<\/tr>\n | \n| \u00a0Deposits<\/td>\n | $<\/td>\n | 632,803<\/td>\n | 442,046<\/td>\n | 444,300<\/td>\n | 407,485<\/td>\n | 417,519<\/td>\n | <\/td>\n | 632,803<\/td>\n | 417,519<\/td>\n<\/tr>\n | \n| \u00a0Loans to deposits<\/td>\n | <\/td>\n | 95.88%<\/td>\n | 93.86%<\/td>\n | 92.10%<\/td>\n | 98.02%<\/td>\n | 92.88%<\/td>\n | <\/td>\n | 95.88%<\/td>\n | 92.88%<\/td>\n<\/tr>\n | \n| \u00a0Shareholders’ equity<\/td>\n | $<\/td>\n | 98,865<\/td>\n | 77,006<\/td>\n | 75,016<\/td>\n | 49,698<\/td>\n | 48,619<\/td>\n | <\/td>\n | 98,865<\/td>\n | 48,619<\/td>\n<\/tr>\n | \n| \u00a0Full-time equivalent employees<\/td>\n | <\/td>\n | 94<\/td>\n | 65<\/td>\n | 73<\/td>\n | 76<\/td>\n | 63<\/td>\n | <\/td>\n | 94<\/td>\n | 63<\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \nAVERAGE BALANCES (QTRLY) | | (YTD)<\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0Total loans<\/td>\n | $<\/td>\n | 540,165<\/td>\n | 407,779<\/td>\n | 403,693<\/td>\n | 394,864<\/td>\n | 359,961<\/td>\n | <\/td>\n | 452,590<\/td>\n | 349,090<\/td>\n<\/tr>\n | \n| \u00a0Earning assets<\/td>\n | $<\/td>\n | 632,508<\/td>\n | 501,776<\/td>\n | 460,636<\/td>\n | 447,834<\/td>\n | 426,992<\/td>\n | <\/td>\n | 535,650<\/td>\n | 411,325<\/td>\n<\/tr>\n | \n| \u00a0Total assets (net of AFS valuation)<\/td>\n | $<\/td>\n | 670,942<\/td>\n | 525,934<\/td>\n | 484,628<\/td>\n | 471,271<\/td>\n | 450,737<\/td>\n | <\/td>\n | 565,060<\/td>\n | 435,160<\/td>\n<\/tr>\n | \n| \u00a0Deposits<\/td>\n | $<\/td>\n | 569,424<\/td>\n | 446,815<\/td>\n | 425,641<\/td>\n | 419,101<\/td>\n | 401,147<\/td>\n | <\/td>\n | 482,113<\/td>\n | 386,972<\/td>\n<\/tr>\n | \n| \u00a0Shareholders’ equity<\/td>\n | $<\/td>\n | 92,091<\/td>\n | 76,440<\/td>\n | 50,983<\/td>\n | 49,548<\/td>\n | 48,325<\/td>\n | <\/td>\n | 73,322<\/td>\n | 46,704<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\nTickers: OTC Pink:BCAL \/ OTC:BCAL \/ OTCMKTS: BCAL \/ OP: BCAL \/ OTCMKTS:AUNB \/ OTC:AUNB<\/p>\n","protected":false},"excerpt":{"rendered":" SAN DIEGO, Calif., Nov. 13, 2018 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL \/ OTCMKTS:BCAL) announced quarterly net income of $874,988 for the third quarter of 2018, compared to $1,088,043 for the third quarter of 2017. For the nine months ended September 30, 2018, net income was $3,253,441, compared to $2,830,295 for the nine months ended September 30, 2017. Results for the quarter and nine months ended Sept. 30, 2018, include approximately $1.2 million and $1.6 million, respectively, in expenses related to the acquisition of Americas United Bank (OTC Pink: AUNB), which was completed on July 31, 2018.<\/p>\n","protected":false},"author":37,"featured_media":30902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"singles-wide.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[574,156,1,10,38,99,78],"tags":[823,9814],"class_list":["post-41923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-news","category-banking-news","category-business-news","category-california-news","category-finance-news","category-public-company-news","category-san-diego-news","tag-otcbcal","tag-otcmktsaunb","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":5142,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/41923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=41923"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/41923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/30902"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=41923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=41923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=41923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | | | | | | | | | | | | | | | | | | |
![\"Bank](\"https:\/\/www.send2press.com\/wire\/images\/17-1117-bank-of-so-calif-696x522.jpg\" "\\"Bank")
<\/p>\n