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.<\/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.<\/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
Media Contact:<\/strong>
\nAmanda Conover
\nBank of Southern California
\naconover@banksocal.com
\n858.847.4762
\n###<\/p>\n\n\n\n![\"Bank](\"https:\/\/www.send2press.com\/wire\/images\/s2p-banksocal-150x100.png\") <\/p>\nBank of Southern California<\/strong><\/h3>\n Quarterly Financial Highlights
(Unaudited)<\/th>\n<\/tr>\n<\/thead>\n \n\n| <\/td>\n | <\/td>\n | Quarterly<\/strong><\/td>\n| <\/td>\n | 1st Qtr Prior Years<\/strong><\/td>\n<\/tr>\n\n| ($$ in thousands except per share data)<\/td>\n | <\/td>\n | 2019 <\/strong><\/td>\n2018 <\/strong><\/td>\n2018 <\/strong><\/td>\n2018 <\/strong><\/td>\n2018 <\/strong><\/td>\n| <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | 1st Qtr<\/strong><\/td>\n4th Qtr<\/strong><\/td>\n3rd Qtr<\/strong><\/td>\n2nd Qtr<\/strong><\/td>\n1st Qtr<\/strong><\/td>\n| <\/td>\n | 2017 <\/strong><\/td>\n2016 <\/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| \u00a0\u00a0 Net interest income<\/td>\n | $<\/td>\n | 7,698<\/td>\n | 8,031<\/td>\n | 6,736<\/td>\n | 5,282<\/td>\n | 4,851<\/td>\n | <\/td>\n | 3,919<\/td>\n | 3,526<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Provision for loan losses<\/td>\n | $<\/td>\n | 300<\/td>\n | 450<\/td>\n | 450<\/td>\n | 400<\/td>\n | 300<\/td>\n | <\/td>\n | 169<\/td>\n | 138<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 NonInterest income<\/td>\n | $<\/td>\n | 420<\/td>\n | 526<\/td>\n | 577<\/td>\n | 602<\/td>\n | 1,098<\/td>\n | <\/td>\n | 404<\/td>\n | 299<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 NonInterest expense<\/td>\n | $<\/td>\n | 5,198<\/td>\n | 5,279<\/td>\n | 5,587<\/td>\n | 3,652<\/td>\n | 4,053<\/td>\n | <\/td>\n | 2,972<\/td>\n | 2,830<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Income tax expense<\/td>\n | $<\/td>\n | 771<\/td>\n | 823<\/td>\n | 401<\/td>\n | 526<\/td>\n | 524<\/td>\n | <\/td>\n | 472<\/td>\n | 353<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Net income<\/td>\n | $<\/td>\n | 1,849<\/td>\n | 2,005<\/td>\n | 875<\/td>\n | 1,306<\/td>\n | 1,072<\/td>\n | <\/td>\n | 710<\/td>\n | 504<\/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| \u00a0\u00a0 Basic earnings per share<\/td>\n | $<\/td>\n | 0.22<\/td>\n | 0.24<\/td>\n | 0.11<\/td>\n | 0.19<\/td>\n | 0.20<\/td>\n | <\/td>\n | 0.14<\/td>\n | 0.12<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Average shares outstanding<\/td>\n | <\/td>\n | 8,409,272<\/td>\n | 8,402,251<\/td>\n | 7,689,827<\/td>\n | 6,991,327<\/td>\n | 5,281,297<\/td>\n | <\/td>\n | 5,140,497<\/td>\n | 4,307,538<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Ending shares outstanding<\/td>\n | <\/td>\n | 8,410,522<\/td>\n | 8,408,022<\/td>\n | 8,398,092<\/td>\n | 6,998,750<\/td>\n | 6,953,720<\/td>\n | <\/td>\n | 5,140,497<\/td>\n | 4,307,538<\/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| \u00a0\u00a0 Return on average assets<\/td>\n | <\/td>\n | 0.99%<\/td>\n | 1.07%<\/td>\n | 0.52%<\/td>\n | 1.00%<\/td>\n | 0.90%<\/td>\n | <\/td>\n | 0.67%<\/td>\n | 0.59%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Return on average common equity<\/td>\n | <\/td>\n | 7.30%<\/td>\n | 7.91%<\/td>\n | 3.77%<\/td>\n | 6.85%<\/td>\n | 8.53%<\/td>\n | <\/td>\n | 6.37%<\/td>\n | 5.78%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Yield on loans<\/td>\n | <\/td>\n | 5.66%<\/td>\n | 5.63%<\/td>\n | 5.30%<\/td>\n | 5.38%<\/td>\n | 5.13%<\/td>\n | <\/td>\n | 4.89%<\/td>\n | 4.87%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Yield on earning assets<\/td>\n | <\/td>\n | 5.36%<\/td>\n | 5.40%<\/td>\n | 4.87%<\/td>\n | 4.78%<\/td>\n | 4.78%<\/td>\n | <\/td>\n | 4.27%<\/td>\n | 4.66%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Cost of deposits<\/td>\n | <\/td>\n | 0.96%<\/td>\n | 0.84%<\/td>\n | 0.72%<\/td>\n | 0.62%<\/td>\n | 0.53%<\/td>\n | <\/td>\n | 0.34%<\/td>\n | 0.28%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Net interest margin<\/td>\n | <\/td>\n | 4.41%<\/td>\n | 4.59%<\/td>\n | 4.23%<\/td>\n | 4.22%<\/td>\n | 4.27%<\/td>\n | <\/td>\n | 3.95%<\/td>\n | 4.40%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Efficiency ratio<\/td>\n | <\/td>\n | 64.03%<\/td>\n | 61.70%<\/td>\n | 76.40%<\/td>\n | 62.06%<\/td>\n | 68.13%<\/td>\n | <\/td>\n | 68.75%<\/td>\n | 73.99%<\/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| \u00a0\u00a0 Tangible equity to tangible assets<\/td>\n | <\/td>\n | 11.29%<\/td>\n | 11.01%<\/td>\n | 11.14%<\/td>\n | 14.54%<\/td>\n | 14.14%<\/td>\n | <\/td>\n | 10.24%<\/td>\n | 9.90%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Book value (BV) per common share<\/td>\n | $<\/td>\n | 12.30<\/td>\n | 12.06<\/td>\n | 11.77<\/td>\n | 11.00<\/td>\n | 10.79<\/td>\n | <\/td>\n | 8.83<\/td>\n | 8.13<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Tangible BV per common share<\/td>\n | $<\/td>\n | 10.07<\/td>\n | 9.81<\/td>\n | 9.49<\/td>\n | 10.81<\/td>\n | 10.59<\/td>\n | <\/td>\n | 8.54<\/td>\n | 7.69<\/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| \u00a0\u00a0 Net loan charge-offs (recoveries)<\/td>\n | $<\/td>\n | (7)<\/td>\n | (0)<\/td>\n | (29)<\/td>\n | 341<\/td>\n | (9)<\/td>\n | <\/td>\n | (54)<\/td>\n | (0)<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Allowance for loan losses (ALLL)<\/td>\n | $<\/td>\n | 4,679<\/td>\n | 4,373<\/td>\n | 3,922<\/td>\n | 3,443<\/td>\n | 3,385<\/td>\n | <\/td>\n | 3,143<\/td>\n | 2,565<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 ALLL to total loans<\/td>\n | <\/td>\n | 0.74%<\/td>\n | 0.69%<\/td>\n | 0.65%<\/td>\n | 0.83%<\/td>\n | 0.83%<\/td>\n | <\/td>\n | 0.90%<\/td>\n | 0.82%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Loan fair value credit marks (LFVCM)<\/td>\n | $<\/td>\n | 2,479<\/td>\n | 2,594<\/td>\n | 2,834<\/td>\n | 681<\/td>\n | 759<\/td>\n | <\/td>\n | 1,311<\/td>\n | 1,766<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 ALLL and LFVCM to total loans<\/td>\n | <\/td>\n | 1.14%<\/td>\n | 1.10%<\/td>\n | 1.11%<\/td>\n | 0.99%<\/td>\n | 1.01%<\/td>\n | <\/td>\n | 1.28%<\/td>\n | 1.38%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Nonperforming loans<\/td>\n | $<\/td>\n | 3,298<\/td>\n | 4,574<\/td>\n | 3,733<\/td>\n | 2,747<\/td>\n | 1,272<\/td>\n | <\/td>\n | 2,040<\/td>\n | 2,054<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Other real estate owned<\/td>\n | $<\/td>\n | 0<\/td>\n | 0<\/td>\n | 0<\/td>\n | 0<\/td>\n | 0<\/td>\n | <\/td>\n | 146<\/td>\n | 98<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Nonperforming assets to total assets<\/td>\n | <\/td>\n | 0.43%<\/td>\n | 0.60%<\/td>\n | 0.51%<\/td>\n | 0.53%<\/td>\n | 0.24%<\/td>\n | <\/td>\n | 0.51%<\/td>\n | 0.59%<\/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| \u00a0\u00a0 Total loans<\/td>\n | $<\/td>\n | 628,538<\/td>\n | 634,651<\/td>\n | 606,753<\/td>\n | 414,925<\/td>\n | 409,196<\/td>\n | <\/td>\n | 349,348<\/td>\n | 313,971<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Total assets<\/td>\n | $<\/td>\n | 768,823<\/td>\n | 767,948<\/td>\n | 734,923<\/td>\n | 521,437<\/td>\n | 522,118<\/td>\n | <\/td>\n | 430,334<\/td>\n | 367,122<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Deposits<\/td>\n | $<\/td>\n | 635,676<\/td>\n | 627,816<\/td>\n | 632,803<\/td>\n | 442,046<\/td>\n | 444,300<\/td>\n | <\/td>\n | 382,991<\/td>\n | 312,321<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Loans to deposits<\/td>\n | <\/td>\n | 98.88%<\/td>\n | 101.09%<\/td>\n | 95.88%<\/td>\n | 93.86%<\/td>\n | 92.10%<\/td>\n | <\/td>\n | 91.22%<\/td>\n | 100.53%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Shareholders’ equity<\/td>\n | $<\/td>\n | 103,481<\/td>\n | 101,360<\/td>\n | 98,865<\/td>\n | 77,006<\/td>\n | 75,016<\/td>\n | <\/td>\n | 45,367<\/td>\n | 38,050<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Full-time equivalent employees<\/td>\n | <\/td>\n | 96<\/td>\n | 94<\/td>\n | 94<\/td>\n | 65<\/td>\n | 73<\/td>\n | <\/td>\n | 65<\/td>\n | 64<\/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 | <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Total loans<\/td>\n | $<\/td>\n | 629,799<\/td>\n | 627,544<\/td>\n | 540,165<\/td>\n | 407,779<\/td>\n | 403,693<\/td>\n | <\/td>\n | 332,308<\/td>\n | 301,535<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Earning assets<\/td>\n | $<\/td>\n | 707,920<\/td>\n | 694,190<\/td>\n | 632,508<\/td>\n | 501,776<\/td>\n | 460,636<\/td>\n | <\/td>\n | 402,698<\/td>\n | 321,752<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Total assets (net of AFS valuation)<\/td>\n | $<\/td>\n | 755,842<\/td>\n | 741,463<\/td>\n | 670,942<\/td>\n | 525,934<\/td>\n | 484,628<\/td>\n | <\/td>\n | 426,831<\/td>\n | 343,841<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Deposits<\/td>\n | $<\/td>\n | 628,950<\/td>\n | 626,433<\/td>\n | 569,424<\/td>\n | 446,815<\/td>\n | 425,641<\/td>\n | <\/td>\n | 379,957<\/td>\n | 303,409<\/td>\n<\/tr>\n | \n| \u00a0\u00a0 Shareholders’ equity<\/td>\n | $<\/td>\n | 102,707<\/td>\n | 100,500<\/td>\n | 92,091<\/td>\n | 76,440<\/td>\n | 50,983<\/td>\n | <\/td>\n | 45,175<\/td>\n | 37,992<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\nTickers: OTC Pink:BCAL \/ OTC:BCAL \/ OTCMKTS: BCAL \/ OP: BCAL<\/p>\n","protected":false},"excerpt":{"rendered":" SAN DIEGO, Calif., May 7, 2019 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL \/ OTCMKTS:BCAL) today reported results for the first quarter ended March 31, 2019. Total assets grew to $769 million for the first quarter of 2019, a 47% increase compared to the first quarter of 2018. Quarterly net income increased 72% to $1.85 million compared to $1.07 million in Q1 of 2018. Total loans ended the quarter at $629 million and total deposits were $636 million.<\/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":[8081],"class_list":["post-47670","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-otc-pink-bcal","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":3714,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/47670","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=47670"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/47670\/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=47670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=47670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=47670"}],"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\")