https:\/\/www.banksocal.com\/<\/a> or call (858) 847-4780.<\/p>\nForward-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. Forward-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. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, in this news release. Factors that might cause such differences include, but are not limited to: the impact of the Coronavirus (COVID-19) on the economy and the Bank; 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; changes in banking legislation or regulation; trends in customer behavior as well as their ability to repay loans; and changes in the national and local economy.<\/p>\nBank 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: Amanda Conover
\nBank of Southern California
\naconover@banksocal.com
\n858.847.4762<\/p>\n
*LOGO link for media:\u00a0https:\/\/www.Send2Press.com\/300dpi\/18-0118s2p-bank-so-cal-300dpi.jpg<\/a><\/p>\nTickers:\u00a0OTC Pink:BCAL\u00a0\/ OTC:BCAL \/ OTCMKTS:BCAL \/ OP: BCAL \/ OTC:CALW<\/p>\n
+++<\/p>\n
\n\n\n\nBank of Southern California<\/strong><\/h3>\nQuarterly Financial Highlights<\/strong>
(Unaudited)<\/p>\n<\/td>\n<\/tr>\n\n| <\/td>\n | <\/td>\n | Quarterly<\/strong><\/td>\n\u00a0<\/strong><\/td>\n1st Qtr Prior Years<\/strong><\/td>\n<\/tr>\n\n| ($$ in thousands except per share data)<\/td>\n | <\/td>\n | 2020 <\/strong><\/td>\n2019 <\/strong><\/td>\n2019 <\/strong><\/td>\n2019 <\/strong><\/td>\n2019 <\/strong><\/td>\n\u00a0<\/strong><\/td>\n2018 <\/strong><\/td>\n2017 <\/strong><\/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\u00a0<\/strong><\/td>\n1st Qtr<\/strong><\/td>\n1st Qtr<\/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 | 7,985<\/td>\n | 7,736<\/td>\n | 7,795<\/td>\n | 7,625<\/td>\n | 7,698<\/td>\n | <\/td>\n | 4,851<\/td>\n | 3,919<\/td>\n<\/tr>\n | \n| \u00a0Provision for loan losses<\/td>\n | $<\/td>\n | 300<\/td>\n | 200<\/td>\n | 300<\/td>\n | 200<\/td>\n | 300<\/td>\n | <\/td>\n | 300<\/td>\n | 169<\/td>\n<\/tr>\n | \n| \u00a0NonInterest income<\/td>\n | $<\/td>\n | 747<\/td>\n | 321<\/td>\n | 695<\/td>\n | 519<\/td>\n | 420<\/td>\n | <\/td>\n | 1,098<\/td>\n | 404<\/td>\n<\/tr>\n | \n| \u00a0NonInterest expense<\/td>\n | $<\/td>\n | 5,694<\/td>\n | 5,512<\/td>\n | 5,711<\/td>\n | 5,705<\/td>\n | 5,198<\/td>\n | <\/td>\n | 4,053<\/td>\n | 2,972<\/td>\n<\/tr>\n | \n| \u00a0Income tax expense<\/td>\n | $<\/td>\n | 827<\/td>\n | 709<\/td>\n | 763<\/td>\n | 667<\/td>\n | 771<\/td>\n | <\/td>\n | 524<\/td>\n | 472<\/td>\n<\/tr>\n | \n| \u00a0Net income<\/td>\n | $<\/td>\n | 1,911<\/td>\n | 1,636<\/td>\n | 1,716<\/td>\n | 1,572<\/td>\n | 1,849<\/td>\n | <\/td>\n | 1,072<\/td>\n | 710<\/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 | 0.20<\/td>\n | 0.19<\/td>\n | 0.20<\/td>\n | 0.19<\/td>\n | 0.22<\/td>\n | <\/td>\n | 0.20<\/td>\n | 0.14<\/td>\n<\/tr>\n | \n| \u00a0Average shares outstanding<\/td>\n | <\/td>\n | 9,408,940<\/td>\n | 8,578,102<\/td>\n | 8,410,522<\/td>\n | 8,410,522<\/td>\n | 8,409,272<\/td>\n | <\/td>\n | 5,281,297<\/td>\n | 5,140,497<\/td>\n<\/tr>\n | \n| \u00a0Ending shares outstanding<\/td>\n | <\/td>\n | 9,412,690<\/td>\n | 9,405,190<\/td>\n | 8,410,522<\/td>\n | 8,410,522<\/td>\n | 8,410,522<\/td>\n | <\/td>\n | 6,953,720<\/td>\n | 5,140,497<\/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 | 0.90%<\/td>\n | 0.79%<\/td>\n | 0.87%<\/td>\n | 0.82%<\/td>\n | 0.99%<\/td>\n | <\/td>\n | 0.90%<\/td>\n | 0.67%<\/td>\n<\/tr>\n | \n| \u00a0Return on average common equity<\/td>\n | <\/td>\n | 6.30%<\/td>\n | 5.93%<\/td>\n | 6.37%<\/td>\n | 6.02%<\/td>\n | 7.30%<\/td>\n | <\/td>\n | 8.53%<\/td>\n | 6.37%<\/td>\n<\/tr>\n | \n| \u00a0Yield on loans<\/td>\n | <\/td>\n | 5.32%<\/td>\n | 5.23%<\/td>\n | 5.44%<\/td>\n | 5.59%<\/td>\n | 5.66%<\/td>\n | <\/td>\n | 5.13%<\/td>\n | 4.89%<\/td>\n<\/tr>\n | \n| \u00a0Yield on earning assets<\/td>\n | <\/td>\n | 4.76%<\/td>\n | 4.88%<\/td>\n | 5.21%<\/td>\n | 5.24%<\/td>\n | 5.36%<\/td>\n | <\/td>\n | 4.78%<\/td>\n | 4.27%<\/td>\n<\/tr>\n | \n| \u00a0Cost of deposits<\/td>\n | <\/td>\n | 0.78%<\/td>\n | 0.88%<\/td>\n | 0.99%<\/td>\n | 0.98%<\/td>\n | 0.96%<\/td>\n | <\/td>\n | 0.53%<\/td>\n | 0.34%<\/td>\n<\/tr>\n | \n| \u00a0Net interest margin<\/td>\n | <\/td>\n | 3.98%<\/td>\n | 4.01%<\/td>\n | 4.24%<\/td>\n | 4.28%<\/td>\n | 4.41%<\/td>\n | <\/td>\n | 4.27%<\/td>\n | 3.95%<\/td>\n<\/tr>\n | \n| \u00a0Efficiency ratio<\/td>\n | <\/td>\n | 65.21%<\/td>\n | 68.42%<\/td>\n | 67.26%<\/td>\n | 70.05%<\/td>\n | 64.03%<\/td>\n | <\/td>\n | 68.13%<\/td>\n | 68.75%<\/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 | 12.48%<\/td>\n | 12.58%<\/td>\n | 10.83%<\/td>\n | 11.62%<\/td>\n | 11.29%<\/td>\n | <\/td>\n | 14.14%<\/td>\n | 10.24%<\/td>\n<\/tr>\n | \n| \u00a0Book value (BV) per common share<\/td>\n | $<\/td>\n | 13.00<\/td>\n | 12.81<\/td>\n | 12.77<\/td>\n | 12.56<\/td>\n | 12.30<\/td>\n | <\/td>\n | 10.79<\/td>\n | 8.83<\/td>\n<\/tr>\n | \n| \u00a0Tangible BV per common share<\/td>\n | $<\/td>\n | 11.05<\/td>\n | 10.85<\/td>\n | 10.56<\/td>\n | 10.34<\/td>\n | 10.07<\/td>\n | <\/td>\n | 10.59<\/td>\n | 8.54<\/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 | (11)<\/td>\n | (11)<\/td>\n | 36<\/td>\n | (9)<\/td>\n | (7)<\/td>\n | <\/td>\n | (9)<\/td>\n | (54)<\/td>\n<\/tr>\n | \n| \u00a0Allowance for loan losses (ALLL)<\/td>\n | $<\/td>\n | 5,674<\/td>\n | 5,363<\/td>\n | 5,153<\/td>\n | 4,888<\/td>\n | 4,679<\/td>\n | <\/td>\n | 3,385<\/td>\n | 3,143<\/td>\n<\/tr>\n | \n| \u00a0ALLL to total loans<\/td>\n | <\/td>\n | 0.83%<\/td>\n | 0.79%<\/td>\n | 0.75%<\/td>\n | 0.78%<\/td>\n | 0.74%<\/td>\n | <\/td>\n | 0.83%<\/td>\n | 0.90%<\/td>\n<\/tr>\n | \n| \u00a0Loan fair value credit marks (LFVCM)<\/td>\n | $<\/td>\n | 1,649<\/td>\n | 1,906<\/td>\n | 2,030<\/td>\n | 2,249<\/td>\n | 2,479<\/td>\n | <\/td>\n | 759<\/td>\n | 1,311<\/td>\n<\/tr>\n | \n| \u00a0ALLL and LFVCM to total loans<\/td>\n | <\/td>\n | 1.07%<\/td>\n | 1.07%<\/td>\n | 1.05%<\/td>\n | 1.14%<\/td>\n | 1.14%<\/td>\n | <\/td>\n | 1.01%<\/td>\n | 1.28%<\/td>\n<\/tr>\n | \n| \u00a0Nonperforming loans<\/td>\n | $<\/td>\n | 1,433<\/td>\n | 1,911<\/td>\n | 2,225<\/td>\n | 2,033<\/td>\n | 3,298<\/td>\n | <\/td>\n | 1,272<\/td>\n | 2,040<\/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 | 146<\/td>\n<\/tr>\n | \n| \u00a0Nonperforming assets to total assets<\/td>\n | <\/td>\n | 0.17%<\/td>\n | 0.23%<\/td>\n | 0.27%<\/td>\n | 0.27%<\/td>\n | 0.43%<\/td>\n | <\/td>\n | 0.24%<\/td>\n | 0.51%<\/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 | 683,195<\/td>\n | 676,655<\/td>\n | 684,717<\/td>\n | 623,424<\/td>\n | 628,538<\/td>\n | <\/td>\n | 409,196<\/td>\n | 349,348<\/td>\n<\/tr>\n | \n| \u00a0Total assets<\/td>\n | $<\/td>\n | 852,052<\/td>\n | 830,186<\/td>\n | 839,060<\/td>\n | 766,730<\/td>\n | 768,823<\/td>\n | <\/td>\n | 522,118<\/td>\n | 430,334<\/td>\n<\/tr>\n | \n| \u00a0Deposits<\/td>\n | $<\/td>\n | 688,946<\/td>\n | 671,914<\/td>\n | 692,899<\/td>\n | 632,246<\/td>\n | 635,676<\/td>\n | <\/td>\n | 444,300<\/td>\n | 382,991<\/td>\n<\/tr>\n | \n| \u00a0Loans to deposits<\/td>\n | <\/td>\n | 99.17%<\/td>\n | 100.71%<\/td>\n | 98.82%<\/td>\n | 98.60%<\/td>\n | 98.88%<\/td>\n | <\/td>\n | 92.10%<\/td>\n | 91.22%<\/td>\n<\/tr>\n | \n| \u00a0Shareholders’ equity<\/td>\n | $<\/td>\n | 122,377<\/td>\n | 120,523<\/td>\n | 107,400<\/td>\n | 105,619<\/td>\n | 103,481<\/td>\n | <\/td>\n | 75,016<\/td>\n | 45,367<\/td>\n<\/tr>\n | \n| \u00a0Full-time equivalent employees<\/td>\n | <\/td>\n | 92<\/td>\n | 97<\/td>\n | 96<\/td>\n | 100<\/td>\n | 96<\/td>\n | <\/td>\n | 73<\/td>\n | 65<\/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<\/tr>\n | \n| \u00a0Total loans<\/td>\n | $<\/td>\n | 676,825<\/td>\n | 678,015<\/td>\n | 664,946<\/td>\n | 623,541<\/td>\n | 629,799<\/td>\n | <\/td>\n | 403,693<\/td>\n | 332,308<\/td>\n<\/tr>\n | \n| \u00a0Earning assets<\/td>\n | $<\/td>\n | 803,804<\/td>\n | 766,012<\/td>\n | 730,165<\/td>\n | 714,889<\/td>\n | 707,920<\/td>\n | <\/td>\n | 460,636<\/td>\n | 402,698<\/td>\n<\/tr>\n | \n| \u00a0Total assets (net of AFS valuation)<\/td>\n | $<\/td>\n | 855,397<\/td>\n | 818,989<\/td>\n | 783,043<\/td>\n | 766,960<\/td>\n | 755,842<\/td>\n | <\/td>\n | 484,628<\/td>\n | 426,831<\/td>\n<\/tr>\n | \n| \u00a0Deposits<\/td>\n | $<\/td>\n | 696,341<\/td>\n | 671,443<\/td>\n | 641,867<\/td>\n | 633,478<\/td>\n | 628,950<\/td>\n | <\/td>\n | 425,641<\/td>\n | 379,957<\/td>\n<\/tr>\n | \n| \u00a0Shareholders’ equity<\/td>\n | $<\/td>\n | 121,773<\/td>\n | 109,464<\/td>\n | 106,853<\/td>\n | 104,745<\/td>\n | 102,707<\/td>\n | <\/td>\n | 50,983<\/td>\n | 45,175<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n","protected":false},"excerpt":{"rendered":" SAN DIEGO, Calif., May 5, 2020 (SEND2PRESS NEWSWIRE) — Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the first quarter ended March 31, 2020. Total assets increased to $852 million at March 31, 2020, up from $830 million in the prior quarter and an increase of 10.8% compared to March 31, 2019.<\/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":[156,1,10,574,38,99,78],"tags":[13306,8081],"class_list":["post-59059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-news","category-business-news","category-california-news","category-earnings-news","category-finance-news","category-public-company-news","category-san-diego-news","tag-otc-markets","tag-otc-pink-bcal","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":4189,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/59059","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=59059"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/59059\/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=59059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=59059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=59059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | | | | | | | | | | | | | | | | | | | | | | | | |
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