Author Archives: Bank of Southern California NA

Bank of Southern California NA Funds More Than $487.8 Million in PPP Loans

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today that it has funded more than $487.8 million in Paycheck Protection Program (PPP) loans. These results, as of 9:30 p.m. PDT on May 7, 2020, provided 1,940 local businesses affected by the Coronavirus (COVID-19) with critical financing to retain or restore jobs for 51,523 individuals.

The Paycheck Protection Program provides small businesses with financial resources to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead. As an SBA Preferred Lender, Bank of Southern California felt a fundamental responsibility to support the business community and offered PPP loans to both customers and non-customers. Through this approach, the Bank was able to help even more businesses obtain funding, resulting in many new banking relationships.

Nathan Rogge, President and CEO of Bank of Southern California said, "Our employees continue to demonstrate their commitment and dedication to the business community-working around the clock to deliver for those in need. I am proud of the impact Bank of Southern California has made in providing vital funds to support small businesses and our local communities. As we look to the future, we will continue to build upon these new relationships and provide long-term value for our clients."

Bank of Southern California is still accepting PPP loan applications for Southern Californian businesses. To apply, visit us online at https://www.banksocal.com.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today that it has funded more than $487.8 million in Paycheck Protection Program (PPP) loans. These results, as of 9:30 p.m. PDT on May 7, 2020, provided 1,940 local businesses affected by the Coronavirus (COVID-19) with critical financing to retain or restore jobs for 51,523 individuals.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Announces Q1 2020 Results and Response to Pandemic

SAN DIEGO, Calif. /ScoopCloud/ -- 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. Total loans increased to $683 million and total deposits increased to $689 million from $629 million and $636 million, respectively, at March 31, 2019. Net income for the quarter ended March 31, 2020, was $1.91 million, compared to $1.64 million in Q4 2019 and $1.85 million in Q1 2019.

First Quarter 2020 Highlights
* Q1 2020 on track as Bank responds to pandemic
* Reorganization into Southern California Bancorp approved by shareholders
* CalWest Bancorp acquisition closing in Q2, pending shareholder approval

Nathan Rogge, President and CEO of Bank of Southern California said, "While we are pleased with our first quarter results, we are more focused on the current environment and supporting small businesses and communities impacted by the Coronavirus (COVID-19) while remaining financially strong and positioning for growth." The Banks' focus on small business is reflected in first quarter results in C&I lending, which is up 19% in outstandings compared to the first quarter of the prior year, and also in undisbursed C&I commitments, which increased 25% during the same period. Non-interest bearing demand deposits, another reflection of our small business focus, have increased 26% compared to the first quarter of 2019.

"As we navigate these unique times, we remain committed to executing upon our strategic plan and supporting Southern California's business community. Most recently, we were able to assist customers and non-customers in obtaining critical funding in response to the Paycheck Protection Program (PPP). By the end of the first round, we helped over 900 local businesses secure PPP loans, thus providing over 35,000 jobs" concluded Rogge. The Bank also remains focused on our strategic merger with CalWest Bank, which will provide an expanded branch presence covering Orange County and the Inland Empire and well as operational synergies so we may better serve the business community.

John Farkash, Chairman of the Board said, "Aside from the solid first quarter results, I am proud of the impact our Bank has made in supporting small businesses and helping to restore our local economies. We look forward to growing our relationships with these new businesses as we look ahead and recover from this pandemic."

Additional Financial Highlights and Response to the Pandemic
With the onset of the world-wide coronavirus pandemic in the middle of March, Bank of Southern California has been taking measures to closely monitor its loan portfolio, operations, liquidity and capital resources while actively working to minimize the current and future impact of this unprecedented situation. While the full impact of the pandemic is not known at this time, the following highlights pertinent information in the Bank's response.
* Operations - While all branch offices remain operational, for the safety of our employees and customers, our branch offices have reduced hours and we highly encourage drive-through, where available, remote banking, and internet banking. We have installed protective shields at service areas and social distancing protocols have been implemented.
* Capital resources - The Bank closed a private placement of common stock in December 2019 in connection with its pending acquisition of CALWest Bancorp. The Bank's capital ratios at March 31, 2020 - 12.5% tier 1 leverage ratio and 16.5% total risk-based capital - are considered very strong and the Bank will remain "well-capitalized" after closing the pending merger.
* Liquidity - The Bank has sufficient liquidity resources to meet its customer's needs. In addition to balance sheet liquidity of over 10% of assets, the Bank has access to liquidity facilities from other banks, including the Federal Home Loan Bank of San Francisco, at which the Bank has over $100 million available borrowing capacity at March 31, 2020.
* Loan Portfolio - While nonperforming loans continue to be low as of March 31, 2020, which is consistent with prior quarters, the Bank has been working to assist its credit customers and minimize the Bank's exposure to potential loss given the current environment. Following is certain information and actions which have been taken regarding the Bank's credit portfolio.
o Risk Portfolio - The Bank's exposure to certain high-risk industries follows:

Industry	Balance	Number
Hospitality (hotel/motel)	$17,400,000	5
Restaurant and food service	15,000,000	33
Oil and Gas	0	0
Total	$32,400,000	38

o Since the end of March, the Bank has been actively engaging with its customers to maintain relationships and provide a bridge to economic recovery. The Bank has worked with the SBA to secure payment relief for dozens of SBA loan customers. Furthermore, the Bank has received and is granting numerous deferment requests for 3 to 6-month periods to assist borrowers during the economic slowdown.
* The CARES Act Payroll Protection Program ("PPP") - The Bank's focused efforts on assisting small businesses with obtaining PPP loans resulted in over 900 loans approved by the SBA for over $350 million and related loan fees of over $9 million (to be accreted over the term of the loan). This extraordinary effort has secured existing customers and created strong goodwill with new customers and in the community as the Bank continues to support small business during the second round of PPP, which is currently underway.

[Quarterly Financial Highlights Table Follows]

More details about our quarterly results are available on our website and through the following link to our most recent quarterly results and trends: https://www.banksocal.com/about-us/financials.

About Bank of Southern California
A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements
This 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.
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.
Contact: Amanda Conover
Bank of Southern California
aconover@banksocal.com
858.847.4762

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL / OTC:CALW

Bank of Southern California Quarterly Financial Highlights (Unaudited)
		Quarterly					1st Qtr Prior Years
($$ in thousands except per share data)		2020	2019	2019	2019	2019	2018	2017
		1st Qtr	4th Qtr	3rd Qtr	2nd Qtr	1st Qtr	1st Qtr	1st Qtr
EARNINGS
Net interest income	$	7,985	7,736	7,795	7,625	7,698	4,851	3,919
Provision for loan losses	$	300	200	300	200	300	300	169
NonInterest income	$	747	321	695	519	420	1,098	404
NonInterest expense	$	5,694	5,512	5,711	5,705	5,198	4,053	2,972
Income tax expense	$	827	709	763	667	771	524	472
Net income	$	1,911	1,636	1,716	1,572	1,849	1,072	710

Basic earnings per share	$	0.20	0.19	0.20	0.19	0.22	0.20	0.14
Average shares outstanding		9,408,940	8,578,102	8,410,522	8,410,522	8,409,272	5,281,297	5,140,497
Ending shares outstanding		9,412,690	9,405,190	8,410,522	8,410,522	8,410,522	6,953,720	5,140,497

PERFORMANCE RATIOS
Return on average assets		0.90%	0.79%	0.87%	0.82%	0.99%	0.90%	0.67%
Return on average common equity		6.30%	5.93%	6.37%	6.02%	7.30%	8.53%	6.37%
Yield on loans		5.32%	5.23%	5.44%	5.59%	5.66%	5.13%	4.89%
Yield on earning assets		4.76%	4.88%	5.21%	5.24%	5.36%	4.78%	4.27%
Cost of deposits		0.78%	0.88%	0.99%	0.98%	0.96%	0.53%	0.34%
Net interest margin		3.98%	4.01%	4.24%	4.28%	4.41%	4.27%	3.95%
Efficiency ratio		65.21%	68.42%	67.26%	70.05%	64.03%	68.13%	68.75%

CAPITAL
Tangible equity to tangible assets		12.48%	12.58%	10.83%	11.62%	11.29%	14.14%	10.24%
Book value (BV) per common share	$	13.00	12.81	12.77	12.56	12.30	10.79	8.83
Tangible BV per common share	$	11.05	10.85	10.56	10.34	10.07	10.59	8.54

ASSET QUALITY
Net loan charge-offs (recoveries)	$	(11)	(11)	36	(9)	(7)	(9)	(54)
Allowance for loan losses (ALLL)	$	5,674	5,363	5,153	4,888	4,679	3,385	3,143
ALLL to total loans		0.83%	0.79%	0.75%	0.78%	0.74%	0.83%	0.90%
Loan fair value credit marks (LFVCM)	$	1,649	1,906	2,030	2,249	2,479	759	1,311
ALLL and LFVCM to total loans		1.07%	1.07%	1.05%	1.14%	1.14%	1.01%	1.28%
Nonperforming loans	$	1,433	1,911	2,225	2,033	3,298	1,272	2,040
Other real estate owned	$	0	0	0	0	0	0	146
Nonperforming assets to total assets		0.17%	0.23%	0.27%	0.27%	0.43%	0.24%	0.51%

END OF PERIOD BALANCES
Total loans	$	683,195	676,655	684,717	623,424	628,538	409,196	349,348
Total assets	$	852,052	830,186	839,060	766,730	768,823	522,118	430,334
Deposits	$	688,946	671,914	692,899	632,246	635,676	444,300	382,991
Loans to deposits		99.17%	100.71%	98.82%	98.60%	98.88%	92.10%	91.22%
Shareholders' equity	$	122,377	120,523	107,400	105,619	103,481	75,016	45,367
Full-time equivalent employees		92	97	96	100	96	73	65

AVERAGE BALANCES (QTRLY) \| \| (YTD)
Total loans	$	676,825	678,015	664,946	623,541	629,799	403,693	332,308
Earning assets	$	803,804	766,012	730,165	714,889	707,920	460,636	402,698
Total assets (net of AFS valuation)	$	855,397	818,989	783,043	766,960	755,842	484,628	426,831
Deposits	$	696,341	671,443	641,867	633,478	628,950	425,641	379,957
Shareholders' equity	$	121,773	109,464	106,853	104,745	102,707	50,983	45,175

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.

Related link: https://www.banksocal.com/

Bank of Southern California, NA and CalWest Bancorp, the Holding Company for CalWest Bank, Announce Changes to Merger Agreement

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL) and CalWest Bancorp (OTCBB: CALW), today announced that they have renegotiated the terms of their merger and have agreed to amend the initial Definitive Agreement announced on October 21, 2019 following shareholder meetings held on April 22, 2020.

The economic effects of COVID-19 prompted Bank of Southern California's shareholders to pause and adjourn their voting to pursue an amended merger agreement. According to the terms of the amended agreement, BCAL's all-cash offer is now $0.35 per CALW share compared to the initial Definitive Agreement which offered $0.43 per share. The amendment to the initial Definitive Agreement is expected to be presented to shareholders in mid-May with an expected close on May 29, 2020 pending all regulatory approvals.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, California, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County. For more information, please visit https://www.banksocal.com or call (858) 847-4780.

About CalWest Bancorp

CalWest Bancorp is the holding company of CalWest Bank, a community bank recognized for its exemplary service to entrepreneurs, high net worth individuals and non-profit organizations located throughout Southern California. The Bank serves the business community through its four branches located in Rancho Santa Margarita, Irvine, Huntington Beach and Redlands. For more information, please visit https://calwestbancorp.com/ or call 949.766.3006.

Forward-Looking Statements

This 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 and CalWest Bancorp intend for such forward‐looking statements to be covered by the safe harbor provisions of that Act. These include statements as to the anticipated benefits of the merger, including future financial and operating results, cost savings and enhanced revenues that may be realized from the merger as well as other statements of expectations regarding the merger and any other statements regarding future results or expectations.

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. 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 which could have a material effect on the operations and future prospects of each of Bank of Southern California and CalWest Bancorp and the resulting company, include but are not limited to: the businesses of Bank of Southern California and/or CalWest Bancorp may not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; expected revenue synergies and cost savings from the merger may not be fully realized or realized within the expected time frame; revenues following the merger may be lower than expected; customer and employee relationships and business operations may be disrupted by the merger; the ability to obtain required regulatory and shareholder approvals, and the ability to complete the merger on the expected timeframe may be more difficult, time-consuming or costly than expected; the ability of the Bank of Southern California 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. 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.

Additional Information About the Merger

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote for approval of the merger. In connection with the proposed merger a joint proxy statement was provided to the shareholders of both institutions which provided detailed information about the merger and the two institutions. Shareholders are encouraged to read the joint proxy statement carefully before voting on the merger. The directors, executive officers, and certain other members of management and employees of Bank of Southern California and CalWest Bancorp may be deemed to be participants in the solicitation of votes to approve the merger. Additional information regarding the interests of those participants and other persons who may be deemed participants in the merger may be obtained by reading the joint proxy statement.

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL / OTC:CALW

Bank of Southern California, N.A. (OTC Pink: BCAL) and CalWest Bancorp (OTCBB: CALW), today announced that they have renegotiated the terms of their merger and have agreed to amend the initial Definitive Agreement announced on October 21, 2019 following shareholder meetings held on April 22, 2020.

Related link: https://www.banksocal.com/

Bank of Southern California N.A. Announces Fourth Quarter and Year End 2019 Results

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the fourth quarter ended December 31, 2019. Total assets ended the year at $830 million at December 31, 2019, an increase of 8.1% compared to December 2018. Total loans increased 6.6% to $677 million and total deposits increased 7.0% to $672 million compared to the prior year as well.

Net income for the quarter ended December 31, 2019, was $1.64 million, compared to $1.72 million in Q3 2019 and $2.00 million in Q4 2018. Earnings for the year ended December 31, 2019, were $6.77 million up 29% from $5.26 million for the year ended December 2018. Diluted earnings per share increased to $0.78 for the year ended December 2019 versus $0.71 in the year ended December 2018.

Fourth Quarter 2019 Highlights
* Announced plan of merger with CalWest Bancorp, expected to close in Q2 2020
* Announced completion of capital offering and plans to form Holding Company

Nathan Rogge, President and CEO of Bank of Southern California said, "We produced solid results for 2019 and continue to increase meaningful loan and deposit relationships while maintaining strong credit quality across our portfolio. Specifically, we reported strong commercial and industrial loan growth, increased non-interest bearing DDA, and a rise in total assets, largely attributed to our recent capital raise."

The Banks' focus on C&I lending is not only reflected in a 14% increase in outstanding C&I loans during the year, but also in undisbursed C&I commitments, which increased 46% during the year. Non-interest bearing demand deposits, increased 22% during 2019, a result of our emphasis on relationship-based banking.

"As we enter 2020, we remain focused on advancing and driving growth in the Southern California market. Our strategic merger with CalWest Bank will provide us with an expanded branch presence covering Orange County and the Inland Empire as well as operational synergies and efficiencies, thus allowing us to better serve the business community. The merger is anticipated to close in the second quarter of 2020," concluded Rogge.

John Farkash, Chairman of the Board said, "We are pleased to report another solid quarter to close out 2019. The Bank has achieved good momentum in executing our strategy and moving towards a relationship-focused approach to banking. As we look ahead, we remain focused on driving long-term value for our customers and shareholders."

Additional Financial Highlights
* Total loans decreased $8 million during the 4th quarter to $677 million at quarter end; the reduction was primarily related to construction loans, which declined $10 million during the quarter as projects paid off as planned. The pace of total loan payoffs slowed in the second half of 2019 to $37 million, down from the $62 million pace set in the first six months of the year. Compared to the first half of the year, new loan origination units increased by 28% in the second half of the year resulting in $155 million in total gross loan commitments in 2019.
* During 2019, the Bank has focused on improving its core deposit portfolio. This is not only reflected in the 22% growth in noninterest-bearing demand (DDA) during 2019, but also in the growth of money market deposits, which increased $26 million, or 12%, during 2019. This core deposit growth allowed the Bank to decrease reliance on higher cost time deposits, which declined 9% during 2019.
* Noninterest expenses grew $3.6 million in 2019 compared to 2018. However, both years include non-recurring costs associated with merger and restructuring expenses, $2.1 million in 2018 related to the merger with Americas United Bank, and $592k in 2019 associated with the plan of merger with CalWest Bank.
* Nonperforming assets continue to be very low and were 0.23% of total assets at December 31, 2019, compared to 0.60% at December 31, 2018. The allowance for loan losses (ALLL) was 0.79% of total loans at December 31, 2019, up from 0.69% at December 31, 2018. When including $1.9 million in loan fair value credit marks (LFVCM), the ALLL and LFVCM represent 1.07% of total loans versus 1.10% at December 31, 2018.

[Quarterly Financial Highlights Table Follows]

More details about our quarterly results are available on our website and through the following link to our most recent quarterly results and trends: https://www.banksocal.com/about-us/financials.

About Bank of Southern California
A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, California, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements
This 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. 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.
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.
Contact:
Amanda Conover
Bank of Southern California
aconover@banksocal.com
858.847.4762

*LOGO link for media: https://www.Send2Press.com/300dpi/18-0118s2p-bank-so-cal-300dpi.jpg

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL / OTC:CALW

Bank of Southern California Quarterly Financial Highlights (Unaudited)
		Quarterly					Annual
($$ in thousands except per share data)		2019	2019	2019	2019	2018
		4th Qtr	3rd Qtr	2nd Qtr	1st Qtr	4th Qtr	2019	2018
EARNINGS
Net interest income	$	7,736	7,795	7,625	7,698	8,031	30,854	24,900
Provision for loan losses	$	200	300	200	300	450	1,000	1,600
NonInterest income	$	321	695	519	420	526	1,954	2,803
NonInterest expense	$	5,512	5,711	5,705	5,198	5,279	22,125	18,571
Income tax expense	$	709	763	667	771	823	2,910	2,274
Net income	$	1,636	1,716	1,572	1,849	2,005	6,773	5,258

Basic earnings per share	$	0.19	0.20	0.19	0.22	0.24	0.80	0.74
Average shares outstanding		8,578,102	8,410,522	8,410,522	8,409,272	8,402,251	8,452,104	7,091,176
Ending shares outstanding		9,405,190	8,410,522	8,410,522	8,410,522	8,408,022	9,405,190	8,408,022

PERFORMANCE RATIOS
Return on average assets		0.79%	0.87%	0.82%	0.99%	1.07%	0.87%	0.87%
Return on average common equity		5.93%	6.37%	6.02%	7.30%	7.91%	6.39%	6.57%
Yield on loans		5.23%	5.44%	5.59%	5.66%	5.63%	5.47%	5.39%
Yield on earning assets		4.88%	5.21%	5.24%	5.36%	5.40%	5.17%	5.01%
Cost of deposits		0.88%	0.99%	0.98%	0.96%	0.84%	0.95%	0.70%
Net interest margin		4.01%	4.24%	4.28%	4.41%	4.59%	4.23%	4.36%
Efficiency ratio		68.42%	67.26%	70.05%	64.03%	61.70%	67.44%	67.04%

CAPITAL
Tangible equity to tangible assets		12.58%	10.83%	11.62%	11.29%	11.01%	12.58%	11.01%
Book value (BV) per common share	$	12.81	12.77	12.56	12.30	12.06	12.81	12.06
Tangible BV per common share	$	10.85	10.56	10.34	10.07	9.81	10.85	9.81

ASSET QUALITY
Net loan charge-offs (recoveries)	$	(11)	36	(9)	(7)	(0)	9	303
Allowance for loan losses (ALLL)	$	5,363	5,153	4,888	4,679	4,373	5,363	4,373
ALLL to total loans		0.79%	0.75%	0.78%	0.74%	0.69%	0.79%	0.69%
Loan fair value credit marks (LFVCM)	$	1,906	2,030	2,249	2,479	2,594	1,906	2,594
ALLL and LFVCM to total loans		1.07%	1.05%	1.14%	1.14%	1.10%	1.07%	1.10%
Nonperforming loans	$	1,911	2,225	2,033	3,298	4,574	1,911	4,574
Other real estate owned	$	0	0	0	0	0	0	0
Nonperforming assets to total assets		0.23%	0.27%	0.27%	0.43%	0.60%	0.23%	0.60%

END OF PERIOD BALANCES
Total loans	$	676,655	684,717	623,424	628,538	634,651	676,655	634,651
Total assets	$	830,186	839,060	766,730	768,823	767,948	830,186	767,948
Deposits	$	671,914	692,899	632,246	635,676	627,816	671,914	627,816
Loans to deposits		100.71%	98.82%	98.60%	98.88%	101.09%	100.71%	101.09%
Shareholders' equity	$	120,523	107,400	105,619	103,481	101,360	120,523	101,360
Full-time equivalent employees		97	96	100	96	94	97	94

AVERAGE BALANCES (QTRLY) \| \| (YTD)
Total loans	$	678,015	664,946	623,541	629,799	627,544	649,251	495,252
Earning assets	$	766,012	730,165	714,889	707,920	694,190	729,844	571,450
Total assets (net of AFS valuation)	$	818,989	783,043	766,960	755,842	741,463	781,386	604,727
Deposits	$	671,443	641,867	633,478	628,950	626,433	644,045	517,546
Shareholders' equity	$	109,464	106,853	104,745	102,707	100,500	105,963	80,078

Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the fourth quarter ended December 31, 2019. Total assets ended the year at $830 million at December 31, 2019, an increase of 8.1% compared to December 2018. Total loans increased 6.6% to $677 million and total deposits increased 7.0% to $672 million compared to the prior year as well.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Completes Capital Offering and Plans to Form Holding Company

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS: BCAL), a community business bank headquartered in San Diego, announced today the successful completion of a capital raise of approximately $12 million through the issuance of common stock in a private placement to institutional and accredited individual investors at a price of $12.00 per share. The Bank also announced its plans to reorganize into a holding company, Southern California Bancorp, subject to shareholder and regulatory approval.

The new capital was raised in connection with the Bank's pending acquisition of CalWest Bancorp (OTCBB: CALW / OTCMKTS: CALW), the holding company for CalWest Bank, previously announced in October. Bank of Southern California entered into a definitive agreement with CalWest Bancorp on October 21, 2019, which is expected to close in the first half of 2020, subject to customary closing conditions. The Bank is forming a holding company, Southern California Bancorp, to facilitate the CalWest transaction and to support the Bank's future growth. In addition to helping facilitate the new holding company's funding of the all-cash acquisition, the capital raise will further support the Bank's successful strategy of driving both organic growth and increasing its geographic footprint throughout Southern California.

Nathan Rogge, President and CEO of Bank of Southern California stated that proceeds from the offering will be used to strengthen the Bank's balance sheet and further support its expansion in the Southern California market. "We are pleased with the capital raise effort and will begin 2020 with additional capital to execute our growth strategies," Rogge added. "The strong interest that we received from individual and institutional investors demonstrates the investment community's endorsement and confidence in Bank of Southern California's performance and future value."

The Bank was represented by MJC Partners, LLC, who served as the sole placement agent for the offering.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles. For more information, please visit https://www.banksocal.com or call (858) 847-4780.

About MJC Partners, LLC

MJC Partners, LLC is a leading Los Angeles-based boutique investment banking and advisory firm providing a full range of strategic, transactional, and valuation-related services to our clients across multiple industry groups. For more information about MJC Partners, visit http://www.mjcpartners.com/.

Forward-Looking Statements

This 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. Future events are difficult to predict. Forward-looking statement 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. 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.

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL / OTC:CALW

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS: BCAL), a community business bank headquartered in San Diego, announced today the successful completion of a capital raise of approximately $12 million through the issuance of common stock in a private placement to institutional and accredited individual investors at a price of $12.00 per share.

Related link: https://www.banksocal.com/

Bank of Southern California NA Names Troy Perry Managing Director, Business Banking

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Troy Perry has joined the company as Managing Director of Business Banking. He will be responsible for broadening Bank of Southern California's market presence by actively seeking new business opportunities throughout Los Angeles' Westside.

Mr. Perry offers a wealth of commercial and industrial lending expertise, with more than ten years of experience in business development, credit and portfolio management. Prior to joining Bank of Southern California, he served as Vice President, Commercial and Business Banking Manager at California Bank & Trust. Mr. Perry holds a bachelor's degree from University of Washington.

"I am pleased to welcome Troy to Bank of Southern California's Business Banking team. He offers deep roots and a wealth of experience providing banking products, services, and solutions to businesses throughout Southern California," said Tony DiVita, Executive Vice President, Chief Operating Officer.

"This is an important step in expanding our Business Banking team and growing our footprint in key markets. Troy's background and experience in credit and commercial lending, are a big win for the Bank," concluded DiVita.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as a production office in Orange County.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL /

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Troy Perry has joined the company as Managing Director of Business Banking. He will be responsible for broadening Bank of Southern California's market presence by actively seeking new business opportunities throughout Los Angeles' Westside.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Announces Third Quarter 2019 Results

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the third quarter ended September 30, 2019. Total assets grew to $839 million at September 30, 2019, a 14% increase compared to the third quarter of 2018. Quarterly net income increased to $1.72 million in Q3 2019 from $1.57 million in Q2 2019; Q3 2018 was $875 thousand, but included $936 thousand in expenses, net of tax, related to the acquisition of Americas United Bank, which closed July 31, 2018. Total loans ended Q3 2019 at $685 million and total deposits were $693 million.

Third Quarter 2019 Highlights
* Loan highlights include growth of $10 million in commercial (C&I) loans in Q3 and an additional $9 million growth in undisbursed commitments on C&I loans.
* Focus on core deposit origination has resulted in growth in noninterest-bearing demand deposits (DDA) of $15 million during Q3 and $35 million year-to-date.

Nathan Rogge, President and CEO of Bank of Southern California said, "Our solid earnings performance for the third quarter included strong commercial loan growth, an increase in noninterest-bearing DDA, and a decrease in time deposits, all driven by our commitment to building long-lasting relationships with our clients. We remain focused on delivering upon this strategy and driving growth for long-term value."

"The Bank continues to demonstrate its commitment to the Southern California business community and has achieved momentum in the newly expanded markets of Los Angeles and Orange. We look forward to achieving additional growth opportunities as we further our investment in Orange County and expand East into the Inland Empire through our proposed merger with CalWest Bank, previously announced on October 21, 2019," concluded Rogge.

Bank of Southern California's continued focus on relationship banking has been impactful, leading to an increase in organic noninterest-bearing demand deposit growth of $15.1 million during the quarter, and a $35.4 million increase since December 2018. John Farkash, Chairman of the Board said, "Results for the third quarter were strong and the Bank remains focused on driving long-term growth and delivering greater value to our shareholders."

Additional Financial Highlights
* Total loans increased $61 million during the quarter to $685 million at quarter end. Loan payoffs totaled $9.3 million in the quarter, down from the $62 million pace set in the first six months of the year. In addition to the growth in C&I loans, loan growth during Q3 was centered in commercial real estate loans.
* The Bank has been focused on improving its deposit portfolio mix toward more core deposits. This is not only reflected in the growth in noninterest-bearing demand (DDA), but also in the growth of money market deposits, which increased $23 million in Q3. The Bank will continue to reposition and improve the deposit portfolio with the longer-term goal of managing a strong net interest margin.
* Noninterest expenses in Q3 2019 include $192 thousand related to the proposed merger with CalWest Bank and in Q2 2018 included $1.2 million related to the merger with Americas United Bank.
* Nonperforming assets continue to be very low and were 0.27% of total assets at September 30, 2019, compared to 0.60% at December 31, 2018. The allowance for loan losses (ALLL) was 0.75% of total loans at September 30, 2019, up from 0.69% at December 31, 2018. When including $2.0 million in loan fair value credit marks (LFVCM), the ALLL and LFVCM represent 1.05% of total loans versus 1.10% at December 31, 2018.

[Quarterly Financial Highlights Table Follows]

More details about our quarterly results are available on our website and through the following link to our most recent quarterly results and trends: https://www.banksocal.com/about-us/financials.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements

This 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. 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.
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.

Media Contact:
Amanda Conover
Bank of Southern California
aconover@banksocal.com
858.847.4762

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California Quarterly Financial Highlights (Unaudited)
		Quarterly					9 Months YTD
($$ in thousands except per share data)		2019	2019	2019	2018	2018
		3rd Qtr	2nd Qtr	1st Qtr	4th Qtr	3rd Qtr	2019	2018
EARNINGS
Net interest income	$	7,795	7,625	7,698	8,031	6,736	23,118	16,869
Provision for loan losses	$	300	200	300	450	450	800	1,150
NonInterest income	$	695	519	420	526	577	1,633	2,277
NonInterest expense	$	5,711	5,705	5,198	5,279	5,587	16,613	13,292
Income tax expense	$	763	667	771	823	401	2,201	1,451
Net income	$	1,716	1,572	1,849	2,005	875	5,137	3,253

Basic earnings per share	$	0.20	0.19	0.22	0.24	0.11	0.61	0.49
Average shares outstanding		8,410,522	8,410,522	8,409,272	8,402,251	7,689,827	8,410,105	6,654,150
Ending shares outstanding		8,410,522	8,410,522	8,410,522	8,408,022	8,398,092	8,410,522	8,398,092

PERFORMANCE RATIOS
Return on average assets		0.87%	0.82%	0.99%	1.07%	0.52%	0.89%	0.77%
Return on average common equity		6.37%	6.02%	7.30%	7.91%	3.77%	6.56%	5.93%
Yield on loans		5.44%	5.59%	5.66%	5.63%	5.30%	5.56%	5.26%
Yield on earning assets		5.21%	5.24%	5.36%	5.40%	4.87%	5.27%	4.78%
Cost of deposits		0.99%	0.98%	0.96%	0.84%	0.72%	0.98%	0.63%
Net interest margin		4.24%	4.28%	4.41%	4.59%	4.23%	4.31%	4.21%
Efficiency ratio		67.26%	70.05%	64.03%	61.70%	76.40%	67.12%	69.42%

CAPITAL
Tangible equity to tangible assets		10.83%	11.62%	11.29%	11.01%	11.14%	10.83%	11.14%
Book value (BV) per common share	$	12.77	12.56	12.30	12.06	11.77	12.77	11.77
Tangible BV per common share	$	10.56	10.34	10.07	9.81	9.49	10.56	9.49

ASSET QUALITY
Net loan charge-offs (recoveries)	$	36	(9)	(7)	(0)	(29)	20	304
Allowance for loan losses (ALLL)	$	5,153	4,888	4,679	4,373	3,922	5,153	3,922
ALLL to total loans		0.75%	0.78%	0.74%	0.69%	0.65%	0.75%	0.65%
Loan fair value credit marks (LFVCM)	$	2,030	2,249	2,479	2,594	2,834	2,030	2,834
ALLL and LFVCM to total loans		1.05%	1.14%	1.14%	1.10%	1.11%	1.05%	1.11%
Nonperforming loans	$	2,225	2,033	3,298	4,574	3,733	2,225	3,733
Other real estate owned	$	0	0	0	0	0	0	0
Nonperforming assets to total assets		0.27%	0.27%	0.43%	0.60%	0.51%	0.27%	0.51%

END OF PERIOD BALANCES
Total loans	$	684,717	623,424	628,538	634,651	606,753	684,717	606,753
Total assets	$	839,060	766,730	768,823	767,948	734,923	839,060	734,923
Deposits	$	692,899	632,246	635,676	627,816	632,803	692,899	632,803
Loans to deposits		98.82%	98.60%	98.88%	101.09%	95.88%	98.82%	95.88%
Shareholders' equity	$	107,400	105,619	103,481	101,360	98,865	107,400	98,865
Full-time equivalent employees		96	100	96	94	94	96	94

AVERAGE BALANCES (QTRLY) \| \| (YTD)
Total loans	$	664,946	623,541	629,799	627,544	540,165	639,557	452,590
Earning assets	$	730,165	714,889	707,920	694,190	632,508	717,655	535,650
Total assets (net of AFS valuation)	$	783,043	766,960	755,842	741,463	670,942	768,715	565,060
Deposits	$	641,867	633,478	628,950	626,433	569,424	634,812	482,113
Shareholders' equity	$	106,853	104,745	102,707	100,500	92,091	104,783	73,322

Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the third quarter ended September 30, 2019. Total assets grew to $839 million at September 30, 2019, a 14% increase compared to the third quarter of 2018.

Related link: https://www.banksocal.com/

Bank of Southern California, NA and CalWest Bancorp, the Holding Company for CalWest Bank, Announce Agreement to Merge

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL) and CalWest Bancorp (OTCBB: CALW), today announced the signing of a definitive agreement and plan of merger (the "Agreement") whereby CalWest Bank will merge with and into Bank of Southern California. The merger is subject to customary closing conditions, including the receipt of all regulatory approvals and the approval of the shareholders of CALW and BCAL. According to the terms of the agreement, BCAL's all-cash offer of 0.43 cents per CALW share values the transaction at approximately $32 million. The merger is expected to close in the first quarter of 2020.

The merger combines two Southern California franchises with similar core operating philosophies and cultures. Headquartered in San Diego, CA, Bank of Southern California currently operates eleven branch locations and one production office in San Diego County, the Coachella Valley in Riverside County, Orange County, and Los Angeles County. CalWest Bank is headquartered in Rancho Santa Margarita, CA, with three branches located in Orange County and one office located in Redlands. The proposed merger with CalWest Bank follows Bank of Southern California's acquisition of four-branch Glendale, CA based Americas United Bank in July 2018, providing Bank of Southern California with its first expansion opportunity into the desirable Los Angeles market.

CalWest Bank offers an attractive footprint in the Orange County market, providing Bank of Southern California with the opportunity to continue its strategic expansion in Southern California. Bank of Southern California currently operates one regional branch location in Orange County. Upon completion of the transaction, the combined organization will have pro forma assets of approximately $1.1 billion and combined capital of approximately $120 million.

Commenting on the announcement, Nathan Rogge, President and Chief Executive Officer of Bank of Southern California, said, "The combined bank offers a highly attractive franchise for us in the dynamic Orange County market and furthers Bank of Southern California's vision of expanding our market share in Southern California. CalWest Bank is a well-managed community business bank with a strong relationship banking culture, making it a great fit for us. Bank of Southern California recently expanded into Los Angeles in July 2018, and in Orange County in December 2017, so this opportunity allows us to continue to execute the next natural extension of our planned growth. We believe this transaction allows the bank to better serve the clients of both organizations with increased lending capabilities, technology enhancements, and an increased branch network. Additionally, it provides a great value for our shareholders, creates opportunities for our employees, and expands our franchise to better serve customers of both organizations," concluded Rogge.

Glenn E. Gray, President and Chief Executive Officer of CalWest Bank, echoed, "We are pleased to partner with an organization that shares our approach to community banking. Our clients and employees will benefit by joining a bank with a commitment to exceptional customer service and strong employee culture. We believe our franchise will meaningfully contribute to Bank of Southern California's vision of becoming a leading community business bank in Southern California. Bank of Southern California's sound financial condition and comprehensive business expertise make them an excellent choice and natural partner for us."

Nathan Rogge will continue as President and CEO, and the existing Bank of Southern California executive management team will continue in their current roles at the combined bank.

MJC Partners, LLC served as financial advisor and Duane Morris LLP served as legal counsel to Bank of Southern California. Janney Montgomery Scott LLC, served as financial advisor and Stuart Moore Staub served as legal counsel to CalWest Bancorp.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals, and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven offices and one production office in San Diego County, the Coachella Valley in Riverside County, Orange County, and Los Angeles County. For more information, please visit https://www.banksocal.com/ or call 858.847.4780.

About CalWest Bancorp

CalWest Bancorp is the holding company of CalWest Bank, a community bank recognized for its exemplary service to entrepreneurs, high net worth individuals and non-profit organizations located throughout Southern California. The Bank serves the business community through its four branches located in Rancho Santa Margarita, Irvine, Huntington Beach and Redlands. For more information, please visit https://calwestbancorp.com/ or call 949.766.3006.

Forward-Looking Statements

This 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 and CalWest Bancorp intend for such forward-looking statements to be covered by the safe harbor provisions of that Act. These include statements as to the anticipated benefits of the merger, including future financial and operating results, cost savings and enhanced revenues that may be realized from the merger as well as other statements of expectations regarding the merger and any other statements regarding future results or expectations.

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. 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 which could have a material effect on the operations and future prospects of each of Bank of Southern California and CalWest Bancorp and the resulting company, include but are not limited to: the businesses of Bank of Southern California and/or CalWest Bancorp may not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; expected revenue synergies and cost savings from the merger may not be fully realized or realized within the expected time frame; revenues following the merger may be lower than expected; customer and employee relationships and business operations may be disrupted by the merger; the ability to obtain required regulatory and shareholder approvals, and the ability to complete the merger on the expected timeframe may be more difficult, time-consuming or costly than expected; the ability of the Bank of Southern California 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. 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.

Additional Information About the Merger

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote for approval of the merger. In connection with the proposed merger a joint proxy statement will be provided to the shareholders of both institutions which will provide detailed information about the merger and the two institutions. Shareholders will be encouraged to read the joint proxy statement carefully before voting on the merger. The directors, executive officers, and certain other members of management and employees of Bank of Southern California and CalWest Bancorp may be deemed to be participants in the solicitation of votes to approve the merger. Additional information regarding the interests of those participants and other persons who may be deemed participants in the merger may be obtained by reading the joint proxy statement when it becomes available.

Media Contacts:
Tony DiVita
Bank of Southern California
858.847.4783
tdivita@banksocal.com

Glenn Gray
CalWest Bancorp
949.766.3088
ggray@calwestbancorp.com

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL / OTC:CALW

Bank of Southern California, N.A. (OTC Pink: BCAL) and CalWest Bancorp (OTCBB: CALW), today announced the signing of a definitive agreement and plan of merger (the "Agreement") whereby CalWest Bank will merge with and into Bank of Southern California. The merger is subject to customary closing conditions, including the receipt of all regulatory approvals and the approval of the shareholders of CALW and BCAL.

Related link: https://www.banksocal.com/

Bank of Southern California NA Names Jacob Mathews Managing Director of Business Banking

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Jacob Mathews has joined the company as Managing Director of Business Banking. He will be responsible for expanding Bank of Southern California's client base by actively seeking new business opportunities in Los Angeles County and Orange County.

Mr. Mathews is an accomplished business banker with a wealth of in-market knowledge and a commitment to helping small businesses grow and succeed. Prior to joining Bank of Southern California, he served as Relationship Manager II with California Bank & Trust.

"We are pleased to welcome Jacob to our experienced team of Managing Directors. He is a deeply rooted and experienced banker with a proven history of delivering custom-tailored financial solutions to small and mid-sized businesses throughout Southern California," said John Chung, Group Managing Director. "We look forward to Jacob's contributions as Bank of Southern California continues to build upon its success and realize additional growth opportunities in Los Angeles County and Orange County," concluded Chung.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

* LOGO Link for Media: https://www.Send2Press.com/300dpi/18-0118s2p-bank-so-cal-300dpi.jpg

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Jacob Mathews has joined the company as Managing Director of Business Banking. He will be responsible for expanding Bank of Southern California's client base by actively seeking new business opportunities in Los Angeles County and Orange County.

Related link: https://www.banksocal.com/

Bank of Southern California N.A. Names Joel Ewan Senior Vice President, Credit Administration

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has announced the appointment of Joel Ewan as Senior Vice President, Credit Administration. In this newly created role, he will be responsible for managing, implementing, and evaluating credit policy initiatives as well as analyzing and structuring commercial credit for clients across multiple industry sectors.

Mr. Ewan is an accomplished professional in the banking industry with nearly 40 years of experience in managing all aspects of commercial and consumer lending in the San Diego region. He brings a wealth of knowledge having held positions at different financial institutions across the region, most recently serving as Executive Vice President for Primary Funding Corporation. Involved in the community, Mr. Ewan served on the Board of Directors for the Risk Management Association and the Neighborhood National Bank Board of Directors. He holds a Master of Business Administration degree with distinction in Finance from the New York University.

"Joel is a strong addition to our underwriting and credit administration team," said Robert Marshall, Executive Vice President and Chief Credit Officer. "He has a long and distinguished career as an executive level credit officer and will play a significant role as we continue to expand our reach throughout Southern California and strategically position the bank for continued growth," concluded Marshall.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

*PHOTO link for media: Send2Press.com/300dpi/19-0812s2p-Joel-Ewan-300dpi.jpg

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has announced the appointment of Joel Ewan as Senior Vice President, Credit Administration. In this newly created role, he will be responsible for managing, implementing, and evaluating credit policy initiatives as well as analyzing and structuring commercial credit for clients across multiple industry sectors.

Related link: https://www.banksocal.com/

Bank of Southern California NA Announces Justin Roscoe as AVP, Training Officer

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has named Justin Roscoe as Assistant Vice President, Training Officer. In this newly created role, he will lead all learning and development, and career pathing programs for the Bank. In addition, he will be responsible for developing a structured recruiting process and company-wide internship program.

Mr. Roscoe is an accomplished training professional with over a decade of experience coaching and developing employees to help them reach their full potential. Prior to joining Bank of Southern California, he served as the Learning and Development Supervisor for Zions Bancorporation, supporting the California Bank & Trust division. Mr. Roscoe is involved in the community and actively volunteers for Junior Achievement of San Diego County. He holds a bachelor's degree from University of San Diego.

"The Training Officer position is a new role for the Bank and demonstrates our commitment to supporting the continued professional growth of our employees. We remain focused on expanding our footprint and want to ensure that employees are achieving their career goals and are well equipped to serve the growing needs of our clients," said Tony DiVita, Executive Vice President, Chief Operating Officer. "Justin brings a wealth of experience and knowledge to Bank of Southern California and is a strong addition to our growing company," concluded DiVita.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as a production office in Orange County.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has named Justin Roscoe as Assistant Vice President, Training Officer. In this newly created role, he will lead all learning and development, and career pathing programs for the Bank. In addition, he will be responsible for developing a structured recruiting process and company-wide internship program.

Related link: https://www.banksocal.com/

Bank of Southern California N.A. Announces Second Quarter 2019 Results

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the second quarter ended June 30, 2019. Total assets were $767 million for the second quarter of 2019, a 47% increase compared to the second quarter of 2018. Quarterly net income increased 20% to $1.57 million compared to $1.31 million in Q2 of 2018. Total loans ended the quarter at $623 million and total deposits were $632 million.

Second Quarter 2019 Highlights
* Enhanced market presence in Los Angeles, Orange and Riverside counties, including the addition of seasoned, relationship-focused bankers
* 2019 loan growth slows, despite new production, primarily driven by higher loan prepayments and real estate secured loan payoffs
* Repositioning of deposit portfolio focused on lower cost and noninterest-bearing core deposits
* Year over year comparisons are affected by the acquisition of Americas United Bank ("AUB") on July 31, 2018.

Nathan Rogge, President and CEO of Bank of Southern California said, "We remain focused on executing our strategy, achieving long-term growth and supporting Southern California's business community. During the second quarter, we expanded in Orange County with the opening of a regional office and full-service banking center in the City of Orange."

"This strategic commitment to the region is further supported through the hiring of several relationship-focused Bankers in key markets in Southern California, including Los Angeles, Orange, and Riverside counties. The Bank has built a strong foundation to support its efforts to become a leading community business bank in Southern California, and is well-positioned for growth," concluded Rogge.

The Bank continues to emphasize core banking products and services while delivering upon an enhanced customer experience. Organic noninterest-bearing demand deposit growth increased $6.8 million during the quarter, and a $20.3 million increase since December 2018. John Farkash, Chairman of the Board said, "Overall, the Bank reported meaningful results for the second quarter. The Bank continues to have a strong and well-capitalized balance sheet positioning the Bank to deliver greater value to our shareholders and achieving long-term growth."

Additional Financial Highlights
* Total Loans declined $5 million during the quarter to $623 million at quarter end, primarily driven by higher loan prepayments and real estate secured loan payoffs. Total loans paid were $32 million during Q2 2019, and total $62 million year-to-date. Despite the decline in loans outstanding, new C&I loan commitments increased $17 million year-to-date, from $160 million at December 31, 2018 to $177 million at June 30, 2019.
* The Bank has been focused on repositioning its deposit portfolio mix toward more core deposits. While total deposits have been flat since December 2018, noninterest-bearing deposits have grown by 12%, offset by a decline of 12% in more costly time deposits. The Bank will continue to reposition and improve the deposit portfolio with the longer-term goal of protecting net interest margin.
* Nonperforming assets were 0.27% of total assets at June 30, 2019, compared to 0.60% at December 31, 2018. The allowance for loan losses (ALLL) was 0.78% of total loans at June 30, 2019, up from 0.69% at December 31, 2018. When including $2.2 million in loan fair value credit marks (LFVCM), the ALLL and LFVCM represent 1.14% of total loans versus 1.10% at December 31, 2018.

[Quarterly Financial Highlights Table Follows]

More details about our quarterly results are available on our website and through the following link to our most recent quarterly results and trends: https://www.banksocal.com/about-us/financials.

About Bank of Southern California
A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements
This 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. 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.
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.
Contact:
Amanda Conover
Bank of Southern California
aconover@banksocal.com
858.847.4762

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Bank of Southern California Quarterly Financial Highlights(Unaudited)
		Quarterly					6 Months YTD
($$ in thousands except per share data)		2019	2019	2018	2018	2018
		2nd Qtr	1st Qtr	4th Qtr	3rd Qtr	2nd Qtr	2019	2018
EARNINGS
Net interest income	$	7,625	7,698	8,031	6,736	5,282	15,323	10,133
Provision for loan losses	$	200	300	450	450	400	500	700
NonInterest income	$	519	420	526	577	602	939	1,701
NonInterest expense	$	5,705	5,198	5,279	5,587	3,652	10,902	7,705
Income tax expense	$	667	771	823	401	526	1,438	1,050
Net income	$	1,572	1,849	2,005	875	1,306	3,421	2,378

Basic earnings per share	$	0.19	0.22	0.24	0.11	0.19	0.41	0.39
Average shares outstanding		8,410,522	8,409,272	8,402,251	7,689,827	6,991,327	8,409,897	6,136,312
Ending shares outstanding		8,410,522	8,410,522	8,408,022	8,398,092	6,998,750	8,410,522	6,998,750

PERFORMANCE RATIOS
Return on average assets		0.82%	0.99%	1.07%	0.52%	1.00%	0.91%	0.95%
Return on average common equity		6.02%	7.30%	7.91%	3.77%	6.85%	6.65%	7.52%
Yield on loans		5.59%	5.66%	5.63%	5.30%	5.38%	5.63%	5.26%
Yield on earning assets		5.24%	5.36%	5.40%	4.87%	4.78%	5.30%	4.78%
Cost of deposits		0.98%	0.96%	0.84%	0.72%	0.62%	0.97%	0.58%
Net interest margin		4.28%	4.41%	4.59%	4.23%	4.22%	4.34%	4.25%
Efficiency ratio		70.05%	64.03%	61.70%	76.40%	62.06%	67.04%	65.11%

CAPITAL
Tangible equity to tangible assets		11.62%	11.29%	11.01%	11.14%	14.54%	11.62%	14.54%
Book value (BV) per common share	$	12.56	12.30	12.06	11.77	11.00	12.56	11.00
Tangible BV per common share	$	10.34	10.07	9.81	9.49	10.81	10.34	10.81

ASSET QUALITY
Net loan charge-offs (recoveries)	$	(9)	(7)	(0)	(29)	341	(15)	333
Allowance for loan losses (ALLL)	$	4,888	4,679	4,373	3,922	3,443	4,888	3,443
ALLL to total loans		0.78%	0.74%	0.69%	0.65%	0.83%	0.78%	0.83%
Loan fair value credit marks (LFVCM)	$	2,249	2,479	2,594	2,834	681	2,249	681
ALLL and LFVCM to total loans		1.14%	1.14%	1.10%	1.11%	0.99%	1.14%	0.99%
Nonperforming loans	$	2,033	3,298	4,574	3,733	2,747	2,033	2,747
Other real estate owned	$	0	0	0	0	0	0	0
Nonperforming assets to total assets		0.27%	0.43%	0.60%	0.51%	0.53%	0.27%	0.53%

END OF PERIOD BALANCES
Total loans	$	623,424	628,538	634,651	606,753	414,925	623,424	414,925
Total assets	$	766,730	768,823	767,948	734,923	521,437	766,730	521,437
Deposits	$	632,246	635,676	627,816	632,803	442,046	632,246	442,046
Loans to deposits		98.60%	98.88%	101.09%	95.88%	93.86%	98.60%	93.86%
Shareholders' equity	$	105,619	103,481	101,360	98,865	77,006	105,619	77,006
Full-time equivalent employees		100	96	94	94	65	100	65

AVERAGE BALANCES (QTRLY) \| \| (YTD)
Total loans	$	623,541	629,799	627,544	540,165	407,779	626,653	405,747
Earning assets	$	714,889	707,920	694,190	632,508	501,776	711,296	481,320
Total assets (net of AFS valuation)	$	766,960	755,842	741,463	670,942	525,934	761,432	505,395
Deposits	$	633,478	628,950	626,433	569,424	446,815	631,226	436,287
Shareholders' equity	$	104,745	102,707	100,500	92,091	76,440	103,731	63,782

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the second quarter ended June 30, 2019. Total assets were $767 million for the second quarter of 2019, a 47% increase compared to the second quarter of 2018. Quarterly net income increased 20% to $1.57 million compared to $1.31 million in Q2 of 2018.

Related link: https://www.banksocal.com/

Bank of Southern California NA Names Ian McKay Managing Director

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has expanded its business development team with the hiring of Ian McKay as Managing Director of Business Banking. He will focus on developing and managing a portfolio of small to medium sized businesses located throughout Orange County.

Mr. McKay is a seasoned and accomplished banking professional, bringing over a decade of experience in portfolio management, financial advising, and commercial business lending. Prior to joining the Bank, he most recently served as Relationship Manager for City National Bank. Mr. McKay is involved in the community and serves as a Board Member for the OC Phillies Philanthropy Organization. Additionally, he volunteers with the Special Olympics and The Autism Community in Action (TACA). He holds a bachelor's degree from California State University Chico and a professional certificate in financial planning from University of California, Irvine.

"Ian is a well-established and experienced banker with deep roots and a track record of successful performance in his market," said John Chung, Group Managing Director. "The addition of Ian to our business banking team will be integral to strengthening and growing Bank of Southern California's regional presence," concluded Chung.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as a production office in Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has expanded its business development team with the hiring of Ian McKay as Managing Director of Business Banking. He will focus on developing and managing a portfolio of small to medium sized businesses located throughout Orange County.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Names Robby Piper Senior Managing Director

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Robby Piper has joined the company as Senior Managing Director, Business Banking. He will be responsible for expanding Bank of Southern California's client base by actively seeking new business opportunities in Orange County and the Inland Empire.

Mr. Piper, a veteran banker with a proven history of results-driven success, has more than twenty years of industry experience working with small to mid-sized businesses from Orange County to the Inland Empire. Prior to joining Bank of Southern California, he held similar roles at Citizens Business Bank and Union Bank. Involved in the community, he served as the past President and Board Member for the Exchange Club of Magnolia Center. Mr. Piper obtained a bachelor's degree from California State University in San Bernardino.

"We are pleased to welcome Robby to Bank of Southern California's robust Business Banking team. His well-established network in the Orange and Riverside markets, along with his reputation for outstanding performance and customer service, make him a great asset," said John Chung, Group Managing Director.

"Robby will play an integral role as we continue to expand the Bank's presence and further position ourselves as the bank of choice for Southern California businesses," concluded Chung.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Robby Piper has joined the company as Senior Managing Director, Business Banking. He will be responsible for expanding Bank of Southern California's client base.

Related link: https://www.banksocal.com/

Bank of Southern California NA Names Kamran Khosrovani Branch Managing Director

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today that it has hired Kamran Khosrovani as Branch Managing Director of Business Banking in Los Angeles. He will focus on client acquisition and retention as Bank of Southern California looks to further expand its presence throughout the greater Los Angeles region.

Mr. Khosrovani is an accomplished and respected business banker with deep roots in the West Los Angeles and surrounding communities, with a commitment to delivering superior service. Prior to joining Bank of Southern California, he served as Managing Director for First Republic Bank, specializing in relationship management and growing core deposits. Mr. Khosrovani holds a bachelor's degree from California State University Northridge.

"Kamran is a strong addition to our team of Branch Managing Directors and our clients will benefit from his wealth of in-market experience," said Scott Yates, Group Managing Director. "He has a proven track record of successfully managing and growing his portfolio. Kamran will play a vital role as we continue to expand our market presence and further position Bank of Southern California as the bank of choice for businesses in Southern California," concluded Yates.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, Orange County, and the Coachella Valley in Riverside County, as well as a production office in West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today that it has hired Kamran Khosrovani as Branch Managing Director of Business Banking in Los Angeles. He will focus on client acquisition and retention as Bank of Southern California looks to further expand its presence throughout the greater Los Angeles region.

Related link: https://www.banksocal.com/

Bank of Southern California NA Names Sean Dlal Managing Director of Business Banking

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Sean Dlal has joined the company as Managing Director of Business Banking in Del Mar. He will be responsible for expanding Bank of Southern California's client base by actively seeking new business opportunities in the San Diego region.

Mr. Dlal is a 12-year banking veteran with a wealth of in-market knowledge and a commitment to helping local businesses grow and succeed. Prior to joining Bank of Southern California, he served as a top-ranked Business Relationship Manager with JP Morgan Chase in San Diego. Mr. Dlal holds a bachelor's degree in Business Management from San Diego State University.

"We are excited to welcome Sean to our growing team of Managing Directors. He is a deeply rooted and experienced banker with a proven history of delivering custom-tailored financial solutions to small and mid-sized business throughout San Diego," said John Chung, Group Managing Director.

"Sean embraces Bank of Southern California's relationship-centric approach and commitment to providing superior service and will be a strong addition to the group," concluded Chung.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, and the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Sean Dlal has joined the company as Managing Director of Business Banking in Del Mar. He will be responsible for expanding Bank of Southern California's client base by actively seeking new business opportunities in the San Diego region.

Related link: https://www.banksocal.com/

Bank of Southern California NA Announces First Quarter 2019 Results and Reports Growth Amidst Expansion

SAN DIEGO, Calif. /ScoopCloud/ -- 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.

First Quarter 2019 Financial Highlights
* Total Assets end at $769 million vs. $768 million at December 31, 2018 and $522 million at March 31, 2018, an increase of 47% over the prior year
* Quarterly Net Income of $1.85 million compares to $2.00 million in Q4 2018 and is up 72% compared to $1.07 million in Q1 2018
* Comparisons are affected by the acquisition of Americas United Bank ("AUB") on July 31, 2018

Nathan Rogge, President and CEO of Bank of Southern California said, "Our first quarter results highlight operating improvements in several key financial areas while we also successfully integrated people, processes, and culture as a result of our recent expansion in the Greater Los Angeles and Orange County regions. As we move forward through 2019, we will remain focused on driving profitable growth as we continue to optimize how we deliver banking services to our customers with an emphasis on speed to market."

"To further support the Bank's growth goals, we have completed an internal restructuring leading to the promotions of Tony DiVita to Chief Operating Officer and Gaylin Anderson to Chief Banking Officer. Additionally, we hired two seasoned Group Managing Directors to lead our growing Business Banking and Branch Banking business units. We are optimistic about the opportunities that are ahead of us as we continue to build Bank of Southern California as a leading community business bank in Southern California," added Rogge.

John Farkash, Chairman of the Board said, "We are pleased with the Bank's year over year results which are attributed to the growth and the efficiencies realized from the acquisition as well as our continued solid organic growth. Overall, we remain confident that our strategic priorities will deliver greater value to our shareholders as we progress through the year and beyond."

Additional Financial Highlights
* Total Deposits - the Bank has been focused on repositioning its deposit portfolio mix to lower cost, non-time deposits while reducing reliance of non-core deposits. While total deposits increased approximately $8 million since December 31, 2018, non-time deposits grew by $25 million as time deposits decreased by $17 million, including $11 million of CDARs time deposits. The Bank expects to continue to reposition its deposit portfolio focused on organic non-time deposit growth. This will have a temporary effect on asset growth, but a longer-term positive impact on net interest margin.
* Total Loans declined $6 million during the quarter to $628 million at quarter end. While new loan production slowed modestly during the quarter, total loans paid off were over $30 million during Q1 2019, primarily from longer term real estate loans, as competition increased with refi-rates moving lower during the quarter.
* Net interest income for Q1 2019 decreased $333 thousand, or 4.1%, to $7.7 million, from $8.0 million in the prior quarter, despite a 2.0% increase in average earning assets. The accretion of fair value discount on the loan portfolio, which added 16 basis points to net interest margin in Q1 2019, declined $118 thousand compared to the prior quarter. Net interest margin declined to 4.41% in Q1 2019 from 4.59% in Q4 of 2018, partially due to cost of deposits, which increased from 0.84% in Q4 2018 to 0.96% in Q1 2019.
* Nonperforming assets were 0.43% of total assets at March 31, 2019, compared to 0.60% in the prior quarter. The allowance for loan losses (ALLL) was 0.74% of total loans at March 31, 2019, up from 0.69% in the prior quarter. When including $2.5 million in loan fair value credit marks (LFVCM), the ALLL and LFVCM represent 1.14% of total loans, up from 1.10% at December 31, 2018.
* The Bank continues to be "well-capitalized", reporting total risk-based capital of 14.6% as of March 31, 2019.

[Quarterly Financial Highlights Table Follows]

More details about our most recent quarterly results and trends are available on our website, by clicking here: https://www.banksocal.com/wp-content/uploads/BSC-Quarterly-Trends-1Q19.pdf

About Bank of Southern California
A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates ten branches in San Diego County, Los Angeles County, and the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements
This 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. 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.

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.

Media Contact:
Amanda Conover
Bank of Southern California
aconover@banksocal.com
858.847.4762

* LOGO Link for Media: Send2Press.com/300dpi/18-0118s2p-bank-so-cal-300dpi.jpg

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

###

Bank of Southern California Quarterly Financial Highlights (Unaudited)
		Quarterly					1st Qtr Prior Years
($$ in thousands except per share data)		2019	2018	2018	2018	2018
		1st Qtr	4th Qtr	3rd Qtr	2nd Qtr	1st Qtr	2017	2016
EARNINGS
Net interest income	$	7,698	8,031	6,736	5,282	4,851	3,919	3,526
Provision for loan losses	$	300	450	450	400	300	169	138
NonInterest income	$	420	526	577	602	1,098	404	299
NonInterest expense	$	5,198	5,279	5,587	3,652	4,053	2,972	2,830
Income tax expense	$	771	823	401	526	524	472	353
Net income	$	1,849	2,005	875	1,306	1,072	710	504

Basic earnings per share	$	0.22	0.24	0.11	0.19	0.20	0.14	0.12
Average shares outstanding		8,409,272	8,402,251	7,689,827	6,991,327	5,281,297	5,140,497	4,307,538
Ending shares outstanding		8,410,522	8,408,022	8,398,092	6,998,750	6,953,720	5,140,497	4,307,538

PERFORMANCE RATIOS
Return on average assets		0.99%	1.07%	0.52%	1.00%	0.90%	0.67%	0.59%
Return on average common equity		7.30%	7.91%	3.77%	6.85%	8.53%	6.37%	5.78%
Yield on loans		5.66%	5.63%	5.30%	5.38%	5.13%	4.89%	4.87%
Yield on earning assets		5.36%	5.40%	4.87%	4.78%	4.78%	4.27%	4.66%
Cost of deposits		0.96%	0.84%	0.72%	0.62%	0.53%	0.34%	0.28%
Net interest margin		4.41%	4.59%	4.23%	4.22%	4.27%	3.95%	4.40%
Efficiency ratio		64.03%	61.70%	76.40%	62.06%	68.13%	68.75%	73.99%

CAPITAL
Tangible equity to tangible assets		11.29%	11.01%	11.14%	14.54%	14.14%	10.24%	9.90%
Book value (BV) per common share	$	12.30	12.06	11.77	11.00	10.79	8.83	8.13
Tangible BV per common share	$	10.07	9.81	9.49	10.81	10.59	8.54	7.69

ASSET QUALITY
Net loan charge-offs (recoveries)	$	(7)	(0)	(29)	341	(9)	(54)	(0)
Allowance for loan losses (ALLL)	$	4,679	4,373	3,922	3,443	3,385	3,143	2,565
ALLL to total loans		0.74%	0.69%	0.65%	0.83%	0.83%	0.90%	0.82%
Loan fair value credit marks (LFVCM)	$	2,479	2,594	2,834	681	759	1,311	1,766
ALLL and LFVCM to total loans		1.14%	1.10%	1.11%	0.99%	1.01%	1.28%	1.38%
Nonperforming loans	$	3,298	4,574	3,733	2,747	1,272	2,040	2,054
Other real estate owned	$	0	0	0	0	0	146	98
Nonperforming assets to total assets		0.43%	0.60%	0.51%	0.53%	0.24%	0.51%	0.59%

END OF PERIOD BALANCES
Total loans	$	628,538	634,651	606,753	414,925	409,196	349,348	313,971
Total assets	$	768,823	767,948	734,923	521,437	522,118	430,334	367,122
Deposits	$	635,676	627,816	632,803	442,046	444,300	382,991	312,321
Loans to deposits		98.88%	101.09%	95.88%	93.86%	92.10%	91.22%	100.53%
Shareholders' equity	$	103,481	101,360	98,865	77,006	75,016	45,367	38,050
Full-time equivalent employees		96	94	94	65	73	65	64

AVERAGE BALANCES (QTRLY) \| \| (YTD)
Total loans	$	629,799	627,544	540,165	407,779	403,693	332,308	301,535
Earning assets	$	707,920	694,190	632,508	501,776	460,636	402,698	321,752
Total assets (net of AFS valuation)	$	755,842	741,463	670,942	525,934	484,628	426,831	343,841
Deposits	$	628,950	626,433	569,424	446,815	425,641	379,957	303,409
Shareholders' equity	$	102,707	100,500	92,091	76,440	50,983	45,175	37,992

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.

Related link: https://www.banksocal.com/

Bank of Southern California NA Appoints Rick Beatty Vice President, Underwriter

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has named Rick Beatty Vice President, Underwriter. He will be responsible for structuring, analyzing and underwriting commercial credit for small to middle market companies as well as managing an existing portfolio of clients.

Mr. Beatty brings nearly 30 years of local banking experience covering credit administration, commercial underwriting and portfolio management. Most recently, he served as Vice President, Senior Underwriter for Regents Bank where he was responsible for underwriting and managing commercial credit to small and middle market companies, real estate investors, and private banking clients. Mr. Beatty obtained a Master of Business Administration in Finance from the University of Arizona.

"Rick's extensive in-market experience will be a great asset to Bank of Southern California, and we are pleased to welcome him to our underwriting team," said Robert Marshall, Executive Vice President and Chief Credit Officer. "He will play an important role as we continue to expand our reach and provide financing for more businesses throughout Southern California," concluded Marshall.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, and the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has named Rick Beatty Vice President, Underwriter. He will be responsible for structuring, analyzing and underwriting commercial credit for small to middle market companies as well as managing an existing portfolio of clients.

Related link: https://www.banksocal.com/

Bank of Southern California NA Promotes Tony DiVita to Chief Operating Officer

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has named Tony DiVita Executive Vice President, Chief Operating Officer. Mr. DiVita joined Bank of Southern California in 2011 and most recently held the position of Executive Vice President, Chief Banking Officer.

In his new role, he will be responsible for overall company performance, providing day-to-day leadership ensuring goals and objectives are achieved.

"Tony's experience, skills and knowledge of our business is invaluable as we continue to execute our strategic initiatives and plan of growing Bank of Southern California into the bank of choice for businesses and employer of choice for employees in Southern California," said Nathan Rogge, President and Chief Executive Officer.

"He is a seasoned and trusted leader who consistently delivers results. Tony is uniquely qualified to drive strategic priorities and accountability, with a focus on operational excellence. He will play a key role in helping us achieve our next level of growth," concluded Rogge.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has named Tony DiVita Executive Vice President, Chief Operating Officer. Mr. DiVita joined Bank of Southern California in 2011 and most recently held the position of Executive Vice President, Chief Banking Officer.

Related link: https://www.banksocal.com/

Bank of Southern California NA Appoints Gaylin Anderson to Chief Banking Officer

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has appointed Gaylin Anderson Executive Vice President, Chief Banking Officer. Mr. Anderson previously served as Executive Vice President, Market Executive, and was responsible for the bank's growth within the newly added Los Angeles and Orange County markets.

In his new role, he will lead the company's business development efforts, portfolio management and customer retention.

"Gaylin has been a valuable member of our executive leadership team since he joined Bank of Southern California in 2018 and played a key role in the acquisition of Los Angeles-based Americas United Bank," said Nathan Rogge, President and Chief Executive Officer.

"I am confident he will continue to be an asset to the organization and will help drive the bank's organic growth," concluded Rogge.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has appointed Gaylin Anderson Executive Vice President, Chief Banking Officer. Mr. Anderson previously served as Executive Vice President, Market Executive, and was responsible for the bank's growth within the newly added Los Angeles and Orange County markets.

Related link: https://www.banksocal.com/

Bank of Southern California NA Extends Loan Facility to NTC Foundation

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCA), a community business bank headquartered in San Diego, Calif., announced today that it has extended a loan facility to the NTC Foundation, a San Diego-based non-profit organization focused on creating a destination for arts and culture at the former Naval Training Center in San Diego. The new loan facility provided funds for the rehabilitation and refinancing of commercial real estate located in ARTS DISTRICT Liberty Station.

Over a decade ago, the NTC Foundation created an unprecedented opportunity for the San Diego community by introducing ARTS DISTRICT Liberty Station. The historical district for arts, culture and creativity serves as a dynamic hub for both nonprofits and artists, showcasing the hallmarks of the San Diego region and helping fuel the local economy.

"It was important for us to work with a bank that understands our goals and supports our mission to enrich the lives of San Diegans through arts and culture," said Christopher Kiefer, Chief Financial Officer of NTC Foundation.

"We appreciate our relationship with Bank of Southern California. Our tenant mix of community serving and arts related non-profit organizations mixed with visual artists, museums, galleries and creative retail is different than what is found in most real estate projects. Bank of Southern California was able to quickly understand the nuances of our specific business mission and offered a banking package that exceeded the criteria set up by our Finance Committee. We greatly value their support and guidance," added Kiefer.

"Bank of Southern California has been serving the San Diego community for over 18 years and continues its strong commitment to businesses and organizations focused on contributing to the local economy, enriching our community, and preserving the city's culture and history," said Marie Crivello, Senior Managing Director at Bank of Southern California.

"We are excited to support the NTC Foundation in their continued efforts to create a special place that was once a shuttered Naval base," Crivello concluded.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in West Los Angeles and Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCA), a community business bank headquartered in San Diego, Calif., announced today that it has extended a loan facility to the NTC Foundation, a San Diego-based non-profit organization focused on creating a destination for arts and culture at the former Naval Training Center in San Diego.

Related link: https://www.banksocal.com/

Bank of Southern California NA Appoints Ashley Lopez as Branch Managing Director

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Ashley Lopez as Branch Managing Director for the company's Carlsbad office. She will be responsible for expanding Bank of Southern California's market presence by actively seeking new business banking relationships with a focus on San Diego's North County communities.

Mrs. Lopez has nearly ten years of industry experience encompassing sales, operations and cash management. Most recently, she served as Regional Relationship Banking Officer for Silvergate Bank covering Los Angeles, Orange County and San Diego Counties. She holds a bachelor's degree from California State University Channel Islands.

"Ashley is a seasoned banker with deep local roots and a passion for serving San Diego's business community," said Gaylin Anderson, Executive Vice President, Chief Banking Officer. "We are excited to welcome Ashley to the team and are confident that she will help us strengthen our position in the market."

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates ten branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Ashley Lopez as Branch Managing Director for the company's Carlsbad office. She will be responsible for expanding Bank of Southern California's market presence by actively seeking new business banking relationships with a focus on San Diego's North County communities.

Related link: https://www.banksocal.com/

Bank of Southern California NA Continues to Expand Its Business Development Team in Greater Los Angeles Area

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, is pleased to announce the expansion of its business development team in the Los Angeles market with the hiring of two seasoned banking professionals to support the company's continued growth and expansion in the Southern California region.

Mirna Batarseh - Senior Managing Director, Deposit Origination:

Mrs. Batarseh has joined Bank of Southern California as Senior Managing Director, Deposit Origination, bringing more than 25 years of exceptional banking experience. In her role, she will be responsible for expanding the Bank's client base by providing deposit solutions, commercial lending opportunities, and treasury management needs for small to mid-sized businesses. Most recently, she served as Vice President, Senior Relationship Manager at Banc of California in Los Angeles.

Jessica Batarseh - Senior Managing Director, Business Banking:

Ms. Batarseh joins the company as Senior Managing Director, Business Banking, bringing over 7 years of experience with proven success in business banking and relationship management. She is responsible for expanding existing client relationships and originating new business lending and deposit opportunities. She offers a wealth of experience and knowledge in commercial lending, business development strategies, and portfolio management.

Prior to joining Bank of Southern California, Ms. Batarseh served as Vice President, Business Banking Relationship Manager II at Banc of California. She graduated with a Bachelor of Science in Management from the California State University, Northridge School of Business and Economics.

"We are pleased to welcome both Mirna and Jessica to our growing Business Development team. Both of these banking professionals have extensive experience with a track record of success, and reputations for providing high level customer service," said Gaylin Anderson, Executive Vice President and Chief Banking Officer.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in West Los Angeles and Orange County.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

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Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, is pleased to announce the expansion of its business development team in the Los Angeles market with the hiring of two seasoned banking professionals to support the company's continued growth and expansion in the Southern California region.

Related link: https://www.banksocal.com/

Bank of Southern California Announces Fourth Quarter and Year End 2018 Financial Results

SAN DIEGO, Calif. /ScoopCloud/ -- SAN DIEGO, Calif., Feb. 11, 2019 (SEND2PRESS NEWSWIRE) -- Bank of Southern California, N.A. (OTC Pink: BCAL) announced quarterly net income of $2.0 million for the fourth quarter of 2018, compared to $875 thousand in the third quarter of 2018 and $1.1 million for the fourth quarter of 2017. For the year ended December 31, 2018, net income was $5.3 million compared to $4.0 million for the year ended December 31, 2017. Results are net of non-recurring expenses of $0.5 million in the fourth quarter of 2018 and $2.1 million for year ended December 31, 2018; these non-recurring expenses are related to the acquisition of Americas United Bank (AUB) in July 2018, and costs associated with consolidating a branch office in December 2018.

Nathan Rogge, President and CEO, commented: "2018 was a record year for Bank of Southern California. In addition to reporting record growth and earnings, we successfully expanded our footprint into the Los Angeles market, continued to grow our client-base, added experienced banking professionals to our team, and completed an over-subscribed capital offering. We also received several distinctions and honors for our strong leadership, commitment to the business community, and dedication to our employees."

Total assets at December 31, 2018, were $768 million, up 60% from $479 million at December 31, 2017. Total loans increased to $635 million at December 31, 2018, compared to $607 million at September 30, 2018 and $399 million at December 31, 2017, an increase of $235 million year over year. Total deposits were $628 million at December 31, 2018, down from $632 million at September 30, 2018, but up $220 million or 54% from $407 million at December 30, 2017. The increase in total assets, loans and deposits is largely attributable to the acquisition of AUB, which added approximately $190 million in loans and $203 million in deposits on July 31, 2018.

Commenting on his prospects for 2019, Nathan Rogge said, "As we start the new year, we are keenly focused on continuing to position Bank of Southern California as a new banking option in the Los Angeles and Orange County markets, achieving our growth and revenue targets, and continue to develop best-in-class employees. We have already made progress on executing several key initiatives related to growing our presence in Southern California, implementing strategies to support our customer experience, and enhancing our employee training and engagement programs.

"The bank continues to be well-capitalized and is well-positioned for further growth and expansion as we move forward to becoming Southern California's Premier Community Business Bank," concluded Rogge.

Additional Financial Highlights
* Net interest income for the quarter ended December 31, 2018, increased 19% to $8.0 million, from $6.7 million in the prior quarter, resulting from a 10% increase in average earning assets, an improved asset mix reflected in the increase in the average loan to deposit ratio during the quarter from 95% to 100%, and an increase in fair value accretion compared to the prior quarter of $297 thousand. Net interest margin of 4.59% includes 22 basis points of fair valuation accretion, an increase from 6 basis points in the prior quarter. This increase in fair value accretion was partially due to full implementation of "Day 2" fair value accounting and partially due to faster than expected loan payoffs in the purchased portfolio. Fair value accretion on a normalized basis is expected 12 to 15 basis points of net interest margin.
* In addition to approximately $149 thousand in merger related expenses incurred during the fourth quarter of 2018, the Bank consolidated its branch office in Palm Desert and accrued $348 thousand in remaining lease costs during the fourth quarter of 2018.
* Nonperforming assets were 0.45% of total assets at December 31, 2018, compared to 0.51% in the prior quarter. The allowance for loan losses (ALLL) was 0.69% of total loans at December 31, 2018, up from 0.65% in the prior quarter; however, when including $2.6 million in loan fair value credit marks (LFVCM), the ALLL and LFVCM represent 1.10% of total loans, up from 0.97% at December 31, 2017.
* The Bank continues to be "well-capitalized". After raising $26 million in capital earlier in 2018 and completing the merger July 31, 2018, the Bank reported total risk-based capital of 14.4% as of December 31, 2018, up from 13.5% at December 31, 2017.

[Quarterly Financial Highlights Table Follows]

For more details about our quarterly results, please visit the "About Us" / "Financials" page of our website and follow the link labeled:

Quarterly Results and Trends

About Bank of Southern California
A growing community bank established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products and services to individuals, professionals, and small-to-mid sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates ten branches in San Diego County, Los Angeles County, and the Coachella Valley in Riverside County, and production offices in Orange County and West Los Angeles. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements

This 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. 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.

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.

Contact: Tony DiVita
Bank of Southern California
(858) 847-4783
tdivita@banksocal.com

###

Bank of Southern California Quarterly Financial Highlights (Unaudited)
		Quarterly					Annual
($$ in thousands except per share data)		2018	2018	2018	2018	2017
		4th Qtr	3rd Qtr	2nd Qtr	1st Qtr	4th Qtr	2018	2017
EARNINGS
Net interest income	$	8,031	6,736	5,282	4,851	4,711	24,900	17,752
Provision for loan losses	$	450	450	400	300	0	1,600	271
NonInterest income	$	526	577	602	1,098	799	2,803	2,209
NonInterest expense	$	5,279	5,587	3,652	4,053	3,245	18,571	12,722
Income tax expense	$	823	401	526	524	1,132	2,274	3,004
Net income	$	2,005	875	1,306	1,072	1,134	5,258	3,965

Basic earnings per share	$	0.24	0.11	0.19	0.20	0.22	0.74	0.76
Average shares outstanding		8,402,251	7,689,827	6,991,327	5,281,297	5,221,606	7,091,176	5,189,799
Ending shares outstanding		8,408,022	8,398,092	6,998,750	6,953,720	5,223,627	8,408,022	5,223,627

PERFORMANCE RATIOS
Return on average assets		1.07%	0.52%	1.00%	0.90%	0.95%	0.87%	0.89%
Return on average common equity		7.91%	3.77%	6.85%	8.53%	9.08%	6.57%	8.36%
Yield on loans		5.63%	5.30%	5.38%	5.13%	4.94%	5.39%	5.04%
Yield on earning assets		5.40%	4.87%	4.78%	4.78%	4.62%	5.01%	4.59%
Cost of deposits		0.84%	0.72%	0.62%	0.53%	0.47%	0.70%	0.39%
Net interest margin		4.59%	4.23%	4.22%	4.27%	4.17%	4.36%	4.22%
Efficiency ratio		61.70%	76.40%	62.06%	68.13%	58.87%	67.04%	63.73%

CAPITAL
Tangible equity to tangible assets		11.01%	11.14%	14.54%	14.14%	10.10%	11.01%	10.10%
Book value (BV) per common share	$	12.06	11.77	11.00	10.79	9.51	12.06	9.51
Tangible BV per common share	$	9.81	9.49	10.81	10.59	9.25	9.81	9.25

ASSET QUALITY
Net loan charge-offs (recoveries)	$	(0)	(29)	341	(9)	210	303	115
Allowance for loan losses (ALLL)	$	4,373	3,922	3,443	3,385	3,076	4,373	3,076
ALLL to total loans		0.69%	0.65%	0.83%	0.83%	0.77%	0.69%	0.77%
Loan fair value credit marks (LFVCM)	$	2,594	2,834	681	759	779	2,594	779
ALLL and LFVCM to total loans		1.10%	1.11%	0.99%	1.01%	0.97%	1.10%	0.97%
Nonperforming loans	$	3,461	3,733	2,747	1,272	1,362	3,461	1,362
Other real estate owned	$	0	0	0	0	0	0	0
Nonperforming assets to total assets		0.45%	0.51%	0.53%	0.24%	0.28%	0.45%	0.28%

END OF PERIOD BALANCES
Total loans	$	634,651	606,753	414,925	409,196	399,402	634,651	399,402
Total assets	$	767,948	734,923	521,437	522,118	479,512	767,948	479,512
Deposits	$	627,816	632,803	442,046	444,300	407,485	627,816	407,485
Loans to deposits		101.09%	95.88%	93.86%	92.10%	98.02%	101.09%	98.02%
Shareholders' equity	$	101,360	98,865	77,006	75,016	49,698	101,360	49,698
Full-time equivalent employees		94	94	65	73	76	94	76

AVERAGE BALANCES (QTRLY) \| \| (YTD)
Total loans	$	627,544	540,165	407,779	403,693	394,864	495,252	360,628
Earning assets	$	694,190	632,508	501,776	460,636	447,834	571,450	420,548
Total assets (net of AFS valuation)	$	741,463	670,942	525,934	484,628	471,271	604,727	444,262
Deposits	$	626,433	569,424	446,815	425,641	419,101	517,546	395,071
Shareholders' equity	$	100,500	92,091	76,440	50,983	49,548	80,078	47,421

###

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL) announced quarterly net income of $2.0 million for the fourth quarter of 2018, compared to $875 thousand in the third quarter of 2018 and $1.1 million for the fourth quarter of 2017. For the year ended December 31, 2018, net income was $5.3 million compared to $4.0 million for the year ended December 31, 2017.

Related link: https://www.banksocal.com/

Bank of Southern California N.A. Names Scott Yates Regional Managing Director

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has expanded its business development team with the appointment of Scott Yates as Group Managing Director of Branch Sales and Deposit Origination. He will be responsible for leading the branch banking group in their efforts to grow the bank's core deposits, deepening existing client relationships and originating new client relationships.

Mr. Yates brings more than 14 years of industry experience specializing in commercial banking, treasury management, and sales management. Most recently, he served as Senior Vice President, Regional Banking Manager for Silvergate Bank. Active in the community, he serves as an Advisory Board Member for the San Diego Financial Literacy Center. Mr. Yates holds a bachelor's degree from the University of Arizona.

"Scott is a strong addition to the Branch Banking team and brings extensive sales management and commercial banking expertise along with a strong reputation and history of performance," said Gaylin Anderson, Executive Vice President, Chief Banking Officer.

"His experience and strategic vision will be instrumental in further developing the team and growing our market presence in Southern California," concluded Anderson.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, and the Coachella Valley in Riverside County, as well as a production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has expanded its business development team with the appointment of Scott Yates as Group Managing Director of Branch Sales and Deposit Origination. He will be responsible for leading the branch banking group in their efforts to grow the bank's core deposits, deepening existing client relationships and originating new client relationships.

Related link: https://www.banksocal.com/

Bank of Southern California NA Appoints John E. Chung as Group Managing Director

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of John Chung as Group Managing Director of Business Banking. He will be responsible for leading the team's impact of meeting the banking needs of small to medium sized businesses throughout Southern California.

Mr. Chung is an accomplished and effective team leader with more than 17 years of commercial banking experience. Most recently, he served as Executive Vice President, National Sales Director for Crossroads Small Business Solutions. Prior, he maintained leadership positions with Banc of California and City National Bank. Mr. Chung holds a bachelor's degree from Northwestern University.

"John is a deeply rooted and experienced banker with a long history of developing and leading successful banking teams," said Tony DiVita, Executive Vice President and Chief Banking Officer. "The addition of John to our business banking group further complements our experienced and growing team as we continue to expand our presence in Southern California," concluded DiVita.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of John Chung as Group Managing Director of Business Banking. He will be responsible for leading the team's impact of meeting the banking needs of small to medium sized businesses throughout Southern California.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Names Bill Lamison Vice President, Underwriter

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has announced the appointment of Bill Lamison as Vice President, Underwriter. He will join the company's established business banking team and will be responsible for structuring, analyzing and underwriting commercial credit for new clients as well as managing an existing portfolio of customers.

Mr. Lamison brings nearly 40 years of industry experience covering all aspects of commercial, consumer and real estate lending. Most recently, he served as Senior Vice President, Senior Credit Analyst for the Commercial Real Estate Group at Silvergate Bank. Active in the community, he is a member of the La Jolla Rotary Club and supports fundraising efforts for La Jolla YMCA and United Way. Bill holds a bachelor's degree from Eisenhower College in New York.

"We are excited to welcome Bill to our business banking team," said Tony DiVita, Executive Vice President and Chief Banking Officer. "Bill's depth of underwriting knowledge and industry experience will be instrumental as we continue to expand our reach and provide financing for even more small to mid-sized businesses throughout Southern California," concluded DiVita.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, and the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, has announced the appointment of Bill Lamison as Vice President, Underwriter. He will join the company's established business banking team and will be responsible for structuring, analyzing and underwriting commercial credit for new clients as well as managing an existing portfolio of customers.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Names Lori Boucher Vice President Branch Manager in La Quinta

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has named Lori Boucher Vice President, Branch Manager. She will be responsible for sales and service of both consumer and business relationships at Bank of Southern California's La Quinta branch in Coachella Valley.

Mrs. Boucher is a results-oriented leader with a strong track record of performance, bringing 38 years of banking experience, including fifteen years as a Branch Manager. Prior to joining Bank of Southern California, she served as the Branch Manager of One West Bank's Indian Wells Branch.

"Lori is an outstanding addition to our dynamic Coachella Valley banking team," said Pam Isaacson, Executive Vice President and Chief Administrative Officer. "Her strong sales and results-driven experience, along with her extensive industry knowledge and commitment to delivering superior service, will play a key role in growing Bank of Southern California's regional presence," concluded Isaacson.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses.

The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates ten branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

*PHOTO link for media: Send2Press.com/300dpi/19-0102s2p-boucher-300dpi.jpg
*Photo Caption: Bank of Southern California names Lori Boucher Vice President, Branch Manager.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has named Lori Boucher Vice President, Branch Manager. She will be responsible for sales and service of both consumer and business relationships at Bank of Southern California's La Quinta branch in Coachella Valley.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Names Joshua Mello Managing Director in San Diego

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Joshua Mello as Managing Director. He will be responsible for developing and managing a portfolio of commercial clients in the greater San Diego region.

Mr. Mello brings more than 11 years of banking experience, covering business lending, small business client acquisition and branch management. Most recently, he served as Vice President, Relationship Manager of Commercial Banking for Banc of California in La Jolla.

Active in the community, Mr. Mello volunteers as a Board Member for Junior Achievement's Young Executive Society. He holds a bachelor's degree from Johnson & Wales University.

"Joshua is a deeply rooted and experienced banker with a reputation for excellence," said Tony DiVita, Executive Vice President and Chief Banking Officer. "The addition of Joshua to our business banking team is an important step for strengthening and growing Bank of Southern California's presence in San Diego," concluded DiVita.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in West Los Angeles and Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Joshua Mello as Managing Director. He will be responsible for developing and managing a portfolio of commercial clients in the greater San Diego region.

Related link: https://www.banksocal.com/

Bank of Southern California NA Hires Pamela Marble as Managing Director in Orange County

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Pamela Marble as Managing Director in Orange County. In this role, she will be responsible for business development and client relationship management. Bank of Southern California plans to transition its local production office into a full-service Regional office in the first quarter next year.

Mrs. Marble joins Bank of Southern California with more than 35 years of industry experience in management, sales, and operations, with a primary focus on providing depository solutions to small to mid-sized businesses and Homeowner Associations.

She most recently served as Vice President Deposit Relationship Manager, Deposit Services for HomeStreet Bank in Orange County. Actively involved in the community, she is a member of the Community Association Institute and past member of Manhattan Beach, Torrance and Harbor Gateway Chambers.

"Pamela is an outstanding addition to our business banking group and will further enhance Bank of Southern California's presence in the Orange County and surrounding markets," said Tony DiVita, Executive Vice President and Chief Banking Officer.

"She brings a wealth of industry and market experience, with a strong reputation building profitable and lasting client relationships," concluded DiVita.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in West Los Angeles and Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

###

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Pamela Marble as Managing Director in Orange County. In this role, she will be responsible for business development and client relationship management.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Opens West Los Angeles Office

LOS ANGELES, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, Calif., is pleased to announce its continued expansion in Los Angeles with the opening of a new production office in West Los Angeles.

The office, located at 11150 Santa Monica Blvd., Suite 890, will be Bank of Southern California's fifth location in the County, further demonstrating its commitment to the vibrant Los Angeles business community.

"The opening of this production office further expands our network and presence in the region, providing us with the opportunity to meet the growing demand of businesses throughout Los Angeles County," said Nathan Rogge, President and CEO of Bank of Southern California.

"The West Los Angeles market is attractive, not only because of its proximity to the Bank's existing footprint, but also because of the number of thriving and prosperous businesses in the region left unserved by larger banks," Rogge added.

The West Los Angeles office will be staffed with Soly Cangarlu, Branch Manager, Jackline Saidian, Branch Service Manager, and Ann Torrico, Managing Director. They each bring deep, local roots and extensive industry and market expertise.

"The company's strategic vision is to become a leading community business bank serving the Southern California region, and grow into the Bank's name as it implies," said Rogge. "Bank of Southern California has grown significantly in recent years through a combination of organic growth and acquisition, and we are continuing to pursue new market growth opportunities in 2019."

"Our clients recognize the value of our relationship-based, solutions-driven approach, which combines the sophisticated financial expertise and tools of a large bank with the genuine, personalized service and local engagement of a community bank. We are pleased that we can now better serve Orange County businesses," concluded Rogge.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates ten branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as production offices in Orange County and West Los Angeles.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Bank locations: https://www.banksocal.com/about-us/locations/

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. ( OTC Pink: BCAL / OTCMKTS:BCAL ), a community business bank headquartered in San Diego, Calif., is pleased to announce its continued expansion in Los Angeles with the opening of a new production office in West Los Angeles.

Related link: https://www.banksocal.com/

Bank of Southern California NA Hires Juliana Rowland as Managing Director in Orange County

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Juliana Rowland as Managing Director in Orange County. She will be responsible for cultivating new client relationships for the Bank with a focus on Orange County's business community.

Bank of Southern California first entered the market in January 2018 with the opening of a production office in the city of Orange and plans to open a full-service branch early next year.

Mrs. Rowland brings nearly 14 years of banking experience, most recently serving as Business Banking Sales Manager, First Vice President for CommerceWest Bank in Irvine. She holds a bachelor's degree from the University of Texas.

"Juliana will be a great asset to our experienced business banking group. Her expertise, leadership, and commitment to the business community will be a valuable resource to both our team and clients," said Tony DiVita, Executive Vice President and Chief Banking Officer.

"We look forward to Juliana's contributions as Bank of Southern California continues to build upon its success and realize additional growth opportunities in Orange County," concluded DiVita.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as a production office in Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, has announced the appointment of Juliana Rowland as Managing Director in Orange County. She will be responsible for cultivating new client relationships for the Bank with a focus on Orange County's business community.

Related link: https://www.banksocal.com/

Bank of Southern California, NA Announces Third Quarter 2018 Financial Results (OTC:BCAL)

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: 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 September 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.

Commenting on the recently completed acquisition of Americas United Bank, Nathan Rogge, President and CEO of Bank of Southern California said, "We are pleased to welcome Americas United Bank customers, employees, and shareholders to Bank of Southern California. We look forward to capitalizing on our newly expanded footprint and realizing greater efficiencies for the benefit of our shareholders, customers and the communities we serve."

"In addition to leveraging Americas United Bank's talented employees, we also hired several tenured and experienced commercial bankers to further expand on the small business opportunities in the market. We are well positioned to meet the needs of the Southern California business community and look forward to continued growth and success," concluded Rogge.

Total assets at September 30, 2018, were $735 million, up 57% from $468 million at September 30, 2017. Total loans increased to $607 million at September 30, 2018, compared to $387 million at September 30, 2017, an increase of $219 million, while total deposits were $633 million at September 30, 2018, compared to $418 million at September 30, 2017, an increase of $215 million. The increase in total assets, loans and deposits is largely attributable to the acquisition of AUNB, which added approximately $190 million in loans and $203 million in deposits on July 31, 2018.

Other Financial Highlights
* Net interest income for the quarter ended September 30, 2018, increased 27.5% to $6.7 million from $5.3 million in the prior quarter, primarily from the 26% increase in average earning assets. Net interest margin of 4.23% includes 6 basis points of fair valuation accretion, which is similar to prior quarters. Net interest income will increase, along with average earning assets, in the fourth quarter as we realize a full period post-merger and the relative impact of fair value accretion is also expected to increase in the fourth quarter.
* Additional cost savings related to synergies from the acquisition of AUB, such as post-conversion data processing expenses, will continue to be realized in the fourth quarter.
* Nonperforming assets were 0.51% of total assets at September 30, 2018, compared to 0.53% in the prior quarter. The allowance for loan losses (ALLL) was 0.65% of total loans at September 30, 2018, compared to 0.83% in the prior quarter; however, when including over $2.8 million in loan fair value credit marks (LFVCM), the ALLL and LFVCM represent 1.11% of total loans.
* The Bank continues to be "well-capitalized". After raising $26 million in capital earlier in 2018 and completing the merger July 31, 2018, the Bank reported total risk-based capital of 14.3% as of September 30, 2018, up from 13.5% at December 31, 2017.

[Quarterly Financial Highlights Table Follows]

For more details about our quarterly results, please visit the "About Us" / "Financials" page of our website - https://www.banksocal.com/about-us/financials/ - and follow the link labeled: Quarterly Results and Trends

About Bank of Southern California:
A growing community bank established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, is locally owned and managed, and offers a range of financial products and services to individuals, professionals, and small-to-mid sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, and the Coachella Valley in Riverside County, and a production office in Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements
This 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. 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.

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.

Contact: Tony DiVita
Bank of Southern California
(858) 847-4783
tdivita@banksocal.com

Bank of Southern California Quarterly Financial Highlights (Unaudited)
		Quarterly					9 Months YTD
($$ in thousands except per share data)		2018	2018	2018	2017	2017
		3rd Qtr	2nd Qtr	1st Qtr	4th Qtr	3rd Qtr	2018	2017
EARNINGS
Net interest income	$	6,736	5,282	4,851	4,711	4,802	16,869	13,041
Provision for loan losses	$	450	400	300	0	0	1,150	271
NonInterest income	$	577	602	1,098	799	380	2,277	1,410
NonInterest expense	$	5,587	3,652	4,053	3,245	3,389	13,292	9,477
Income tax expense	$	401	526	524	1,132	705	1,451	1,872
Net income	$	875	1,306	1,072	1,134	1,088	3,253	2,830

Basic earnings per share	$	0.11	0.19	0.20	0.22	0.21	0.49	0.55
Average shares outstanding		7,689,827	6,991,327	5,281,297	5,221,606	5,219,095	6,654,150	5,179,196
Ending shares outstanding		8,398,092	6,998,750	6,953,720	5,223,627	5,221,197	8,398,092	5,221,197

PERFORMANCE RATIOS
Return on average assets		0.52%	1.00%	0.90%	0.95%	0.96%	0.77%	0.87%
Return on average common equity		3.77%	6.85%	8.53%	9.08%	8.93%	5.93%	8.10%
Yield on loans		5.30%	5.38%	5.13%	4.94%	5.39%	5.26%	5.08%
Yield on earning assets		4.87%	4.78%	4.78%	4.62%	4.85%	4.78%	4.58%
Cost of deposits		0.72%	0.62%	0.53%	0.47%	0.41%	0.63%	0.36%
Net interest margin		4.23%	4.22%	4.27%	4.17%	4.46%	4.21%	4.24%
Efficiency ratio		76.40%	62.06%	68.13%	58.87%	65.40%	69.42%	65.58%

CAPITAL
Tangible equity to tangible assets		11.14%	14.54%	14.14%	10.10%	10.12%	11.14%	10.12%
Book value (BV) per common share	$	11.77	11.00	10.79	9.51	9.31	11.77	9.31
Tangible BV per common share	$	9.49	10.81	10.59	9.25	9.04	9.49	9.04

ASSET QUALITY
Net loan charge-offs (recoveries)	$	(29)	341	(9)	210	(106)	304	(95)
Allowance for loan losses (ALLL)	$	3,922	3,443	3,385	3,076	3,286	3,922	3,286
ALLL to total loans		0.65%	0.83%	0.83%	0.77%	0.85%	0.65%	0.85%
Loan fair value credit marks (LFVCM)	$	2,834	681	759	779	847	2,834	847
ALLL and LFVCM to total loans		1.11%	0.99%	1.01%	0.97%	1.07%	1.11%	1.07%
Nonperforming loans	$	3,733	2,747	1,272	1,362	1,086	3,733	1,086
Other real estate owned	$	0	0	0	0	0	0	0
Nonperforming assets to total assets		0.51%	0.53%	0.24%	0.28%	0.23%	0.51%	0.23%

END OF PERIOD BALANCES
Total loans	$	606,753	414,925	409,196	399,402	387,790	606,753	387,790
Total assets	$	734,923	521,437	522,118	479,512	467,976	734,923	467,976
Deposits	$	632,803	442,046	444,300	407,485	417,519	632,803	417,519
Loans to deposits		95.88%	93.86%	92.10%	98.02%	92.88%	95.88%	92.88%
Shareholders' equity	$	98,865	77,006	75,016	49,698	48,619	98,865	48,619
Full-time equivalent employees		94	65	73	76	63	94	63

AVERAGE BALANCES (QTRLY) \| \| (YTD)
Total loans	$	540,165	407,779	403,693	394,864	359,961	452,590	349,090
Earning assets	$	632,508	501,776	460,636	447,834	426,992	535,650	411,325
Total assets (net of AFS valuation)	$	670,942	525,934	484,628	471,271	450,737	565,060	435,160
Deposits	$	569,424	446,815	425,641	419,101	401,147	482,113	386,972
Shareholders' equity	$	92,091	76,440	50,983	49,548	48,325	73,322	46,704

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL / OTCMKTS:AUNB / OTC:AUNB

Bank of Southern California, N.A. (OTC Pink: 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.

Related link: https://www.banksocal.com/

Bank of Southern California NA Announces Senior Vice President Promotions

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, Calif., announced the promotions of Margaret Rheinwald to Senior Vice President, Controller and Sharokin Badal to Senior Vice President, Treasury Services. The promotions reflect their years of service with the bank and their meaningful contributions to support the company's ongoing growth and expansion.

Margaret Rheinwald - Senior Vice President, Controller -

Ms. Rheinwald joined Bank of Southern California in 2014 as Vice President, Controller with nearly fifteen years of accounting and finance experience in the banking industry. She has been successful in leading and managing an efficient Finance and Accounting Department and has played a significant role in supporting the bank's strategic M&A goals.

Sharokin Badal - Senior Vice President, Treasury Services -

Mr. Badal joined the company in 2008 as Vice President, Cash Management Officer with more than eleven years of industry experience. He has been instrumental in developing a suite of competitive treasury products to meet the needs of businesses. He also has assembled a team of key personnel to support the digital banking and treasury needs of Bank of Southern California clients.

"I am pleased to recognize these individuals and the contributions they have made to support the company's continuous growth and expansion," said Nathan Rogge, President and CEO of Bank of Southern California. "They have both demonstrated strong leadership and management of their respective departments and I am confident they will continue to drive high performing results for Bank of Southern California," Rogge added.

About Bank of Southern California:

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses. The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients.

The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as a production office in Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, Calif., announced the promotions of Margaret Rheinwald to Senior Vice President, Controller and Sharokin Badal to Senior Vice President, Treasury Services. The promotions reflect their years of service with the bank and their meaningful contributions to support the company's ongoing growth and expansion.

Related link: https://www.banksocal.com/

Bank of Southern California, N.A. Names Helen Johnson Senior VP, Loan Administration Manager

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, is pleased to announce that Helen Johnson has joined the company as Senior Vice President, Loan Administration Manager.

She will be responsible for all functions related to loan processing, documentation, compliance and loan servicing.

Mrs. Johnson is an accomplished banking professional with a wealth of experience covering SBA lending, loan processing, business development, and portfolio management in the San Diego market. Prior to joining Bank of Southern California, she served as Vice President, Business Development Officer for CapitalSource, a division of Pacific Western Bank. With a commitment to the community, she served as the emeritus President and Board Member of the Escondido East Rotary Club.

"Helen's thirty-eight-year banking career, including twenty-five years in SBA lending, will be an asset as we look to further develop and expand our loan administration group," said Robert Marshall, Executive Vice President, Chief Credit Officer. "Her in-depth knowledge of commercial lending will be invaluable to our continued growth in the Southern California region," concluded Marshall.

About Bank of Southern California

A growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, Calif., is locally owned and managed, and offers a range of financial products to individuals, professionals and small-to-medium sized businesses.

The Bank's solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. The Bank currently operates eleven branches in San Diego County, Los Angeles County, the Coachella Valley in Riverside County, as well as a production office in Orange County.

For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Tickers: OTC Pink:BCAL / OTC:BCAL / OTCMKTS: BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL), a community business bank headquartered in San Diego, is pleased to announce that Helen Johnson has joined the company as Senior Vice President, Loan Administration Manager.

Related link: https://www.banksocal.com/