Category Archives: Public Companies

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

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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					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/

RMA Reveals Behind-the-Scenes Strategies that Helped Secure Amazon Deal for City of Deltona

POMPANO BEACH, Fla. /ScoopCloud/ -- RMA (www.rma.us.com) has now revealed the international deal-making that was required to secure an Amazon (NASDAQ: AMZN) distribution center as the anchor for the new Portland Industrial Park in Deltona, Florida. RMA's economic development and real estate project management team brokered the deal between DOT Properties headquartered in Australia; Seefried Industrial Properties, the developer for Amazon; and the City. RMA was hired by the City just one year ago to create a 5-year Strategic Plan, and now, a 2020 opening is anticipated for the business park.

"This is a remarkable achievement for Deltona, and we are pleased that RMA was the catalyst behind this transformative deal," said Chris Brown, RMA's Principal/Real Estate Broker. "Our strategic plan revealed an opportunity which we aggressively pursued; making the right connections and creating a win-win scenario for all."

As RMA crafted the Strategic Plan, it became apparent that the key to a business park included approximately 240 acres of prime undeveloped property along Interstate 4. This undeveloped property provided all of the necessary attributes required by major distribution centers. RMA contacted the owners abroad and commenced a series of meetings to discuss and define goals for the property. All agreed that the highest and best use was as a business park with logistics facilities, and RMA utilized their extensive network to reach out specifically to developers that specialized in those target industries.

Deltona's Economic Development Department, headed up by Jerry Mayes and Dr. Tom Tomerlin, had identified specific targeted industries with the stated goal of the City to attract corporate business investment and quality jobs. Early stages of RMA's discussions included meetings with Duke Energy, Halifax Health, Deltona Village, Team Volusia and other stakeholders in the region.

With the land secured and a vision in place, RMA contacted Seefried Industrial Properties headquartered in Atlanta and initiated the plan to secure the Amazon distribution center, a pivotal move for the industrial park.

"We were confident that RMA would create the strategies and relationships necessary to achieve the development of a business park and manufacturing related recruitment," said Jerry Mayes, Economic Development Manager. "However, what they accomplished in such a short time span is truly remarkable and will spur additional commercial growth in the City. We are very proud of this partnership, and we look forward to more successful ventures to come."

Development of the site will begin immediately, with a planned 2020 opening. Within the first 5 years, 500 new jobs will be created according to the incentive agreement with the City and County. The City's focused 5-year strategic plan, with targeted economic development implementation strategies, is quickly and successfully becoming a reality.

About RMA:

RMA is Florida's most experienced full-service economic redevelopment, consulting and management firm; specializing in revitalizing core areas for cities, counties and special districts nationwide. Learn more at: http://www.rma.us.com/.

###
Tickers: NASDAQ: AMZN / NQ: AMZN

RMA has revealed the international deal-making that was required to secure an Amazon (NASDAQ: AMZN) distribution center as the anchor for the new Portland Industrial Park in Deltona, Florida. RMA's economic development and real estate project management team brokered the deal between DOT Properties headquartered in Australia; Seefried Industrial Properties, the developer for Amazon; and the City.

Related link: http://www.rma.us.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/

INDOOR HARVEST CORP. Announces 2020 New Outlook and Ventures / Acquisitions Pending

AUSTIN, Texas /ScoopCloud/ -- Indoor Harvest Corp. (OTC: INQD) announced today the development of the 2020 New Outlook Plan along with impending initial ventures/agreements validating Indoor's approach to leverage a variety of factors making Indoor an attractive venture, merger, technology, partner through its public company platform.

The Company seeks to market its position in the capital market as a publicly trading company, with established auditing, transfer agent, management, market relationships, and shares that trade publicly, and other attributes, to have private companies with revenues, technology, contracts, assets, relationships and or other benefits, integrate with Indoor.

According to Tom Cook, CEO, "I stepped into the role of interim CEO this year and will continue short term as we move into 2020 launching discussions, communications, presentations and other efforts with companies involved with cannabis, hemp and CBD, pending the addition of a long-term CEO.

"We recognize two powerful points in our New Outlook: one, the industry, namely cannabis, CBD and hemp is very attractive to funds, brokers and investors, with political or regulatory shifts in favor of cannabis potentially creating a wave in increased valuations and deals; also, being a public company, we offer a platform for private companies to merge, exchange securities or the like, venturing with us, a reporting publicly traded company."

As a first material move, the Company has restructured and cut certain costs, and advanced different efforts to undertake deals with existing businesses in the "space," with synergistic aspects. Discussions and due diligence are underway. Management forecasts an announcement regarding a targeted business soon, December, 2019. The Company is regularly being approached by individuals and firms seeking to offer an acquisition to add to the Company. The Company is close to an announcement. As part of the 2020 expansion plans the Company has cut a variety of costs and taken strategic steps like incorporation into the platform of an international auditing firm offering services in the U.S and Asia, to be principal auditor.

About Indoor Harvest:

Indoor Harvest, through its brand name Indoor Harvest(R), is focused on leveraging our new 2020 New Outlook Plan, incorporating mergers and acquisitions, and ventures, as part of an M&A/vertical integration strategy, along with pursuing our technology and planning, we developed on Aeroponic Cultivation technology. Primarily, we are looking for targets or partners with synergistic enterprises in the Cannabis and related industry as part of being an integrated consolidation platform offering cannabis, hemp, CBD related companies the opportunity to be part of a bigger play, sharing intellectual capital, technology, access to new capital markets and liquidity for investors. We bring to the table a publicly trading company, with auditing and a variety of market relationships.

Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.

Follow on FACEBOOK: https://www.facebook.com/Indoorharvest/

Investor Relations Contact:
Vanessa Mazzantini
512-710-7676
tomc@tcecompliance.com

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Ticker: OTC: INQD / OTC:INQD / OP: INQD / OTCMKTS:INQD /

Indoor Harvest Corp. (OTC: INQD) announced today the development of the 2020 New Outlook Plan along with impending initial ventures/agreements validating Indoor's approach to leverage a variety of factors making Indoor an attractive venture, merger, technology, partner through its public company platform.

Related link: https://www.facebook.com/Indoorharvest/

Black Knight Joins The Mortgage Collaborative’s Preferred Partner Network

SAN DIEGO, Calif. /ScoopCloud/ -- The Mortgage Collaborative (TMC), the mortgage industry's only independent cooperative, today announced that Black Knight, Inc. (NYSE:BKI), a leading provider of mortgage software, data and analytics solutions, has been added to its Preferred Partner network.

"Black Knight is renowned in the industry for its innovative and transformative technology," said Jim Park, chief executive officer of The Mortgage Collaborative. "We're thrilled to have the company join our Preferred Partner network and offer such best-in-class products to help our member lenders manage their operations more effectively."

Black Knight's solutions help mid-market lenders significantly reduce origination costs while driving greater efficiencies in the loan production process. The suite of solutions offered to members of The Collaborative Mortgage include:
* A best-in-class, scalable loan origination system that is quick to deploy, with the configurability lenders need to support compliance and reduce turn times
* Machine-learning capabilities to read and index documents to help process more loans at scale
* Client-configurable compliance testing available within the workflow
* Advanced business intelligence for actionable insight into their operations
* Comprehensive fee service used to minimize costly fee cures related to the Loan Estimate and Closing Disclosure
* Product pricing and eligibility software to help lenders deliver competitive products at the best price
* eClosing and eSign solutions that help lenders systematically determine the best way to close each loan.

"Both The Mortgage Collaborative and Black Knight are focused on helping lenders reduce their costs to originate and sharpen their competitive edge," said Tyler Sherman, chief revenue officer for the Black Knight Origination Technologies division. "Black Knight becoming a part of The Mortgage Collaborative's network reinforces our mutual commitment to transforming the industry with innovative solutions and powerful insights to help drive efficiencies and improve ROI."

As 2020 approaches, The Mortgage Collaborative looks forward to a year of new opportunities and out-of-the-box solutions for its member lenders while finishing off 2019 on a high note. Record-breaking attendance is anticipated for the organization's 2020 conferences, including its winter conference in New Orleans (February 16-18) and summer conference in Denver (August 9-11).

About The Mortgage Collaborative

Based in San Diego, Calif., The Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise and improved compliance and to help its members access the dynamic and changing consumer base in America. The association is managed by its founding members: John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America (MBA). For more information, visit www.mortgagecollaborative.com.

About Black Knight

Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle.

As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.

The Mortgage Collaborative (TMC), the mortgage industry's only independent cooperative, today announced that Black Knight, Inc. (NYSE:BKI), a leading provider of mortgage software, data and analytics solutions, has been added to its Preferred Partner network.

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

SimpleNexus Expands On-the-Go Credit Services with Integration of Instant Merge from CoreLogic

LEHI, Utah /ScoopCloud/ -- SimpleNexus (https://simplenexus.com/), developer of the leading digital mortgage platform for loan officers, borrowers and real estate agents, today announced the integration of the CoreLogic(R) Instant Merge(R) credit solution into its mobile app and web-based digital mortgage platform. The integration gives loan originators instant, on-the-go access to loan applicants' credit reports and FICO(R) scores from all three national credit bureaus: Equifax(R), Experian(R) and TransUnion(R).

CoreLogic (NYSE: CLGX) introduced the world's first automated, three-bureau credit reporting solution in 1989 and has been a leader in credit reporting solutions for the mortgage industry for over 50 years. The three-bureau CoreLogic Instant Merge report, the most widely accepted credit reporting solution in the mortgage industry, combines full credit history from all three bureaus into a convenient report with a unified format.

With SimpleNexus, borrowers can complete a loan application, upload documents and view loan status - all from a mobile device. Loan officers receive an alert as soon as a borrower applies, and they can use their own mobile device to move loans forward - including ordering credit reports - even when they are out of the office.

"The modern loan originator should be able to qualify loan applicants from any device using the credit provider they know and trust," said Kevin Mullins, principal, channel partnerships at CoreLogic. "That's just what the integration of CoreLogic Instant Merge into SimpleNexus delivers. Now LOs have a cost-effective way to get a clear understanding of applicants' credit history anytime, anywhere."

About SimpleNexus, LLC:

SimpleNexus is the digital mortgage platform that enables lenders to originate and process loans from anywhere. The company's best-in-class, easy-to-use app connects loan officers to their borrowers and real estate agents to easily communicate and exchange data in a single location throughout the entire loan life cycle. Loan officers can manage their loan pipelines, order credit, run pricing, send pre-approvals and sign disclosures - all on the go.

About CoreLogic:

CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit https://www.corelogic.com/.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.

SimpleNexus, developer of the leading digital mortgage platform for loan officers, borrowers and real estate agents, today announced the integration of the CoreLogic Instant Merge credit solution into its mobile app and web-based digital mortgage platform.

Related link: https://simplenexus.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.

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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 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/

Elizabeth Karwowski, CEO, Get Credit Healthy, Selected Woman With Vision Award Winner

SUNRISE, Fla. /ScoopCloud/ -- Fin-tech company, Get Credit Healthy, Inc., (a subsidiary of Beta Music Group Inc. OTC PINK: BEMG) announces CEO Elizabeth Karwowski, has been selected as a winner of the Women With Vision Award, to be presented live, during the Vision Summit on September 25 in Tampa, Florida.

Sponsored by 20/20 Vision for Success Coaching and Mortgage Women Magazine, the award recognizes women in the mortgage industry who have helped others by sharing their vision and displaying professional and personal development that is inspiring, as well as leading the way amongst peers and colleagues.

Karwowski has been at the helm of Get Credit Healthy, a technology company that has developed a platform and cultivated a network of non-profit partners, with the goal of transforming unqualified applicants into creditworthy borrowers. Through Karwowski's leadership since 2009, the company has evolved from a credit education and remediation business into an innovative fin-tech enterprise that helps lenders access a previously untapped market. Get Credit Healthy has recently gained traction and industry recognition while maintaining its mission to leave no lead behind and simultaneously help consumers achieve financial success.

Karwowski joins an elite group of 50 women who will be honored at the summit.

About Get Credit Healthy:

Get Credit Healthy (https://getcredithealthy.com/about/) utilizes its proprietary processes, platform, and software to integrate with lenders to make it easier to recapture leads. Developed for and by those with extensive mortgage industry experience, Get Credit Healthy's platform has facilitated millions of dollars in new loan opportunity. It is working to increase its network of partners and is looking forward to a very promising future.

For information on its parent company, please visit https://betamusicgroup.net/.

Additional financial information can be found at https://www.otcmarkets.com/stock/BEMG/profile.

Safe Harbor Statement:

This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

Tickers: OTC Pink:BEMG / OTC:BEMG / OTCMKTS:BEMG / OP: BEMG

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Fintech company, Get Credit Healthy, Inc., (a subsidiary of Beta Music Group Inc. OTC PINK: BEMG) announces CEO Elizabeth Karwowski, has been selected as a winner of the Women With Vision Award, to be presented live, during the Vision Summit on September 25 in Tampa, Florida.

Related link: https://getcredithealthy.com/

BioAdaptives, Inc. Announces Return to Fully Reporting and Appointment of President

LAS VEGAS, Nev. /ScoopCloud/ -- BioAdaptives, Inc. (OTC BB: BDPT) announced the Company's return to a fully-reporting entity, and the appointment of Mr. Robert W. Ellis as its new President, reporting to Dr. Edward E. Jacobs, Jr.

Dr. Jacobs, Director and CEO said, "We are very pleased to again be an SEC fully-reporting Company, even though when it ceased reporting on EDGAR during 2017 and 2018, the Company continued to release full disclosure data via OTC Market's alternate reporting format."

Dr. Jacobs added, "We are also pleased to announce the appointment of Mr. Robert W Ellis to our Management team. With his additional, it allows me the opportunity to spend more time on the strategic development of BioAdaptives, and to continue scientific research and advancement of a broad line of wellness products for people and animals."

"Mr. Ellis brings more than forty years of business management experience to this new assignment. He has held senior financial and operating management positions in aerospace and telecommunication public corporations, as well as private companies in both mature technology business and development-stage entities," Dr. Jacobs further added.

Mr. Ellis stated, "I am pleased to join BioAdaptives in this position and look forward to leading the Company as it emerges further from its development stage and matures into a growing successful manufacturing and distribution company. We expect to expand BioAdaptives operation through acquisitions and subsidiary entities in its current natural wellness sphere and in related fields in order to add to the Company's bottom line."

About BioAdaptives, Inc.:

BioAdaptives, Inc. is a fully-reporting, public company trading on the OTC Bulletin Board under the symbol BDPT. The company is engaged in research and development in science-based nutraceutical products for human and animal consumption. Learn more at: https://bioadaptives.com/.

SAFE HARBOR ACT:

Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of BioAdaptives, Inc. and its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond BioAdaptives, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in BioAdaptives, Inc.'s filings with the Securities and Exchange Commission.

Ticker: OTCBB:BDPT / OTC:BDPT / OP: BDPT

BioAdaptives, Inc. (OTC BB: BDPT) announced the Company's return to a fully-reporting entity, and the appointment of Mr. Robert W. Ellis as its new President, reporting to Dr. Edward E. Jacobs, Jr.

Related link: https://bioadaptives.com/

JenCap Holdings LLC to Acquire Aran Insurance Services Group, a Specialty Insurance Business

NEW YORK, N.Y. /ScoopCloud/ -- JenCap Holdings (JenCap), a specialty insurance business, announced today that it has agreed to acquire privately-held Aran Insurance Services Group (Aran), a specialty program administrator with offices in Arizona, Colorado, Massachusetts and New York. Founded in 2009, Aran has been led by Tim Kenny and John LaCava who have built one of the leading program administration insurance platforms in the country.

JenCap Holdings (JenCap) was formed in March 2016 by The Carlyle Group (Nasdaq: CG) and JenCap management to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers. The acquisition of Aran is the ninth transaction by JenCap since its founding, and places the company among the largest specialty insurance distribution platforms in the U.S.

"The Aran team has built a multi-faceted company with a wide variety of property and casualty programs for specialty markets as well as a strong presence in the accident and health market," said John F. Jennings, President and Chief Executive Officer of JenCap. "We are excited to help in the expansion of Aran and its subsidiary companies within JenCap."

Aran Insurance Services Group Co-Founder and Chairman, Tim Kenny stated, "Aran has a long-standing commitment to our clients, carriers, and team members, and we specifically sought out a strategic partner that shared this focus. JenCap fulfills this goal, and we are very excited about our partnership."

"Aran's strategic partnership with JenCap creates a number of opportunities for growth and development," commented John LaCava, Aran Insurance Services Group Co-Founder, President and CEO. "We look forward to expanding our programs, markets, and capabilities through JenCap's established network of carriers and agency partners."

About JenCap Holdings:

JenCap Holdings is a premier national specialty insurance distribution platform that includes managing general agencies, specialty program administrators, and transactional wholesale brokers. JenCap has assembled a management team with the sector insight and experience to drive organic growth and strategic acquisitions leveraging technology and advanced data analytics. JenCap is headquartered in New York. For more information on JenCap, visit: http://jencapholdings.com/.

About Aran Insurance Services Group:

Aran Insurance Services Group is a multi-faceted company offering diversified insurance and financial services to the United States and Canadian markets. Aran specializes in both developing and acquiring insurance underwriting facilities offering specialty insurance products and services to the property casualty and accident health markets. For more information on Aran, visit: https://www.araninsurance.com/.

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Tickers: NASDAQ:CG / NQ: CG

JenCap Holdings (JenCap), a specialty insurance business, announced today that it has agreed to acquire privately-held Aran Insurance Services Group (Aran), a specialty program administrator with offices in Arizona, Colorado, Massachusetts and New York. Founded in 2009, Aran has been led by Tim Kenny and John LaCava who have built one of the leading program administration insurance platforms in the country.

Related link: http://www.jencapholdings.com/

The Mortgage Collaborative Adds Get Credit Healthy to Preferred Partner Network

SUNRISE, Fla. /ScoopCloud/ -- Fintech company, Get Credit Healthy (a subsidiary of Beta Music Group Inc. OTC PINK: BEMG) has been added to the Preferred Partner network of The Mortgage Collaborative ("TMC"). Get Credit Healthy will offer TMC members access to resources designed to reduce loan fallout and leverage data.

The Mortgage Collaborative network is more than 130 lenders strong, with an aggregate annual origination volume of over $220 billion. The lender network is supported by a preferred partner network of organizations that specialize in every facet of the mortgage life cycle. TMC members can now offer their clients seamless access to one-on-one credit coaching and financial education via Get Credit Healthy's network of non-profit partners.

"Get Credit Healthy will allow us to take the customer experience to the next level," says David G. Kittle, CMB, president and board vice chairman, The Mortgage Collaborative. "Their technology and methodology allows us to assist those we were once forced to turn away, and I couldn't be prouder to have them as a preferred partner of The Mortgage Collaborative."

"The Mortgage Collaborative has always been a cut above the rest," says Jon Hill, CRO, Get Credit Healthy. "Its collection of lenders and vendors have led the way for the leadership so needed within the mortgage industry. We're looking forward to building great relationships with all of the group."

About Get Credit Healthy:

Get Credit Healthy (https://getcredithealthy.com/about/) utilizes its proprietary processes, platform, and software to integrate with lenders to make it easier to recapture leads. Developed for and by those with extensive mortgage industry experience, Get Credit Healthy's platform has facilitated millions of dollars in new loan opportunity. It is working to increase its network of partners and is looking forward to a very promising future.

For information on its parent company, please visit https://betamusicgroup.net/. Additional financial information can be found at https://www.otcmarkets.com/stock/BEMG/profile.

Safe Harbor Statement:

This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

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Tickers: OTC Pink:BEMG / OTC:BEMG / OTCMKTS:BEMG / OP: BEMG

Fintech company, Get Credit Healthy (a subsidiary of Beta Music Group Inc. OTC PINK: BEMG) has been added to the Preferred Partner network of The Mortgage Collaborative ("TMC"). Get Credit Healthy will offer TMC members access to resources designed to reduce loan fallout and leverage data.

Related link: https://getcredithealthy.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.

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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, 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/

Level One Bank Enlists CompenSafe to Automate Incentive Compensation After Doubling Its Mortgage Division

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, announced today that Level One Bank (NASDAQ: LEVL) has chosen CompenSafe(TM) to automate incentive compensation for mortgage loan originators and support staff across the community bank's mortgage loan center and branch locations.

The decision to move from manual, spreadsheet-based commission calculation to a full-featured compensation management platform was spurred in part by the bank's rapid growth. After acquiring several banks and absorbing MB Financial Bank's mortgage division in July 2018, Level One's own mortgage team effectively doubled in size. The increased number and complexity of compensation plans made the calculation of commissions earnings and periodic bonus payouts more time-consuming .

"CompenSafe created significant efficiencies for our payroll department, saving countless hours of manual labor and eliminating the risk of human error," said Level One Bank Executive Vice President, Consumer Banking Officer, Timothy R. Mackay. "Additionally, it has improved compensation transparency with our loan originators who now have the ability to login and view their pipeline and payroll information at any time."

"Before CompenSafe, I spent a full day running commissions every two weeks," said Level One Bank Senior Accountant Christen Inchaustegui. "Now it takes me 10 minutes to pull together my reports. CompenSafe has also made incentive compensation more transparent for loan originators, who can log in and look at their pipeline and payroll snapshot at any time."

"As a community bank that embraces technology and always looks for ways to do things better, Level One Bank saw right away how CompenSafe could improve both routine commissions processes and long-term compensation plan management," said LBA Ware Founder and CEO Lori Brewer. "We were proud to help Level One manage its growing pains by getting CompenSafe up and running in a matter of just a couple months."

About Level One Bank

Level One Bank (NASDAQ: LEVL) is a full-service, 5-star BauerFinancial rated commercial and consumer bank headquartered in Michigan with assets of approximately $1.5 billion. It currently operates eleven full-service banking centers located throughout Southeast Michigan and West Michigan. Level One Bank's success has been recognized both locally and nationally as the U.S. Small Business Administration's (SBA) 'Community Lender of the Year' and 'Export Finance Lender of the Year', one of S&P Global's Top 10 'Best-Performing Community Banks' in the nation, and one of American Banker Magazine's 'Best Banks to Work For'. Level One's Commercial Division provides a complete menu of products including lines of credit, term loans, leases, commercial mortgages, SBA loans, Export-Import Financing, and a full suite of Treasury Management and Private Banking services. The Consumer Division offers personal savings and checking accounts and a complete array of consumer loan products including residential mortgages, home equity, auto, and credit card services. Level One Bank offers a variety of online banking services and a robust mobile banking application for individuals and businesses. Level One Bank offers the sophistication of a big bank, the heart of a community bank, and the spirit of an entrepreneur. For more information, please visit www.levelonebank.com.

About LBA Ware

Founded in 2008, LBA Ware's mission is to inspire opportunity by delivering solutions that are essential to the way mortgage companies operate. We are a trusted partner and play a key role in our clients' success by enabling them to motivate, incentivize and better leverage the human potential within their organizations. Our applications automate traditionally manual business processes for which an existing software solution does not exist, empowering lenders to create an integrated software environment that maximizes their productivity and operational efficiency. For more information about LBA Ware and our software solutions, visit https://lbaware.com.

Twitter: @LBAWare @LevelOneBank #mortgagebanking #digitalmortgage #CompenSafe

Ticker: NASDAQ:LEVL / NQ: LEVL

LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, announced today that Level One Bank (NASDAQ: LEVL) has chosen CompenSafe(TM) to automate incentive compensation for mortgage loan originators and support staff across the community bank's mortgage loan center and branch locations

Related link: https://lbaware.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/

Move For Hunger Receives $50,000 ‘A Community Thrives’ Grant from USA TODAY NETWORK and The Gannett Foundation

RED BANK, N.J. /ScoopCloud/ -- Move For Hunger was announced today as a grant recipient of A Community Thrives, a grantmaking and crowd-funding program from the USA TODAY NETWORK and a part of the Gannett Foundation. Move For Hunger will receive a $50,000 "A Community Thrives" grant to expand its Multi-Family Apartment Food Rescue Program.

A Community Thrives supports non-profit organizations with projects focused on community building and has helped to contribute more than $6.5 million since 2017. This year, A Community Thrives engaged participants in 46 states. Move For Hunger was one of 16 organizations to receive the award, and one of just seven to receive a $50,000 grant.

Move For Hunger is a non-profit organization that has created a sustainable way for the relocation industry to reduce food waste and fight hunger. The organization partners with thousands of moving companies, apartment communities, and relocation management companies to provide their customers, residents, and clients with the opportunity to donate their food when they move. Since 2009, Move For Hunger has delivered nearly 15 million pounds of food to food banks & pantries across the United States and Canada. That's the equivalent of 12 million meals.

The A Community Thrives grant will allow Move For Hunger to expand its Multi-Family Apartment Food Rescue Program, onboard new members, distribute food collection bags & educational resources, and organize food drives with participating properties.

"Forty million Americans are facing hunger every day, yet we are wasting 40% of the food we produce each year," said Adam Lowy, Move For Hunger's Executive Director/Founder. "The A Community Thrives grant will allow Move For Hunger to accelerate our plans to scale our Multi-Family Apartment Food Rescue Program and train even more properties on how to incorporate food rescue into their daily operations. We are so grateful to the USA TODAY Network and the Gannett Foundation for their support."

"We are proud of the work Move For Hunger has done to reduce food waste and fight hunger nationwide," said Andy Yost, Chief Marketing Officer of Gannett. "At Gannett, our mission is to connect and empower our readers to make a difference in the communities they are a part of. Through A Community Thrives, we are further fueling our mission and purpose."

About Move For Hunger:

Move For Hunger is a non-profit organization that has created a sustainable way for the relocation industry to reduce food waste and fight hunger. In addition to collecting food from people who are moving to new homes, Move For Hunger also helps companies and individuals across the United States and Canada organize successful food drives. To date, they have collected nearly 15 million pounds of food. For more information, or to find out how you can host your own food drive, visit https://www.moveforhunger.org/.

About A Community Thrives:

A Community Thrives is a grantmaking and crowd-funding program from the USA TODAY NETWORK and is part of the Gannett Foundation. A Community Thrives supports non-profit organizations with projects focused on community building and has helped to contribute more than $6.5 million since 2017.

About USA TODAY NETWORK:

USA TODAY NETWORK, part of Gannett Co, Inc. (NYSE: GCI), is the largest local-to-national media organization in the country, powered by our award-winning newsrooms and marketing solutions business. With deep roots in local communities spanning the U.S. with more than 100 brands, plus USA TODAY, we engage about 126 million people every month through a diverse portfolio of multi-platform content offerings and experiences. For more information, visit https://www.gannett.com/.

PRESS CONTACT
Dan Beam, Communications Manager
Move For Hunger
dan@moveforhunger.org
(732) 774-0521 x109

Move For Hunger was announced today as a grant recipient of A Community Thrives, a grantmaking and crowd-funding program from the USA TODAY NETWORK and a part of the Gannett Foundation. Move For Hunger will receive a $50,000 "A Community Thrives" grant to expand its Multi-Family Apartment Food Rescue Program.

Related link: https://moveforhunger.org/

Fidelity National Financial Adds NotaryCam Remote Notarization Service to Online Closing Options

NEWPORT BEACH, Calif. /ScoopCloud/ -- NotaryCam(R), the pioneering leader in online notarization and the original provider of mortgage eClosing solutions, today announced that Fidelity National Financial (FNF), will allow the use of NotaryCam to deliver remote online notarization (RON) and remote online closing (ROC) capabilities to FNF's network of direct title and settlement operations, as well as its network of independent title agents. Most recently, FNF used the NotaryCam platform to complete its first remote notarization in Texas.

"Title plays a critical role in the adoption of RON and ROC so it is especially encouraging to see an industry leader fully embrace these digital processes," said NotaryCam Founder and CEO Rick Triola. "The transaction that took place in Texas is really just the beginning, and we look forward to helping FNF's nationwide network of direct title operations and independent title agents streamline the residential mortgage closing process and deliver unparalleled convenience and service to home buyers and sellers throughout the U.S."

eClose360(R) by NotaryCam sets the standard for RON and ROC transactions in the real estate and mortgage industries. The platform provides lenders and title/closing agents with a secure, online closing room where they can upload closing documents, meet with signers and return fully executed and compliant documents within an hour. In addition, the system records all transactions to provide a verifiable transaction record for security and compliance purposes.

"Our engagement with NotaryCam has helped us to expand remote online notary capabilities to more of our offices and agents," said Jason Nadeau, Chief Digital Officer at Fidelity National Financial. "FNF and our title divisions are committed to bringing an end-to-end digital real estate experience to the industry, and the consumers we serve. Remote notarization is another important component in our expanding suite of digital options."

About Fidelity National Financial, Inc.:

Fidelity National Financial, Inc. (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States.

More information about FNF can be found at https://www.fnf.com.

About NotaryCam:

After pioneering the world's first multi-party/multi-state remote online notarization (RON), career real estate executive Rick Triola founded NotaryCam and completed the first mortgage remote online closing (ROC) in 2014. Today, NotaryCam is the leader in online notarization and mortgage eClosing solutions, having notarized documents worldwide for hundreds of thousands of customers in all 50 states and more than 146 countries. The company's patented eClose360(R) platform delivers the "perfect" online mortgage closing in every jurisdiction with a flexible workflow for document recording and unparalleled identity verification, security and customer convenience. NotaryCam also proudly maintains an industry-leading 99.8 percent customer satisfaction rating.

Visit https://www.notarycam.com for additional information or to get a document notarized today.

NotaryCam(R), the pioneering leader in online notarization and the original provider of mortgage eClosing solutions, today announced that Fidelity National Financial (FNF), will allow the use of NotaryCam to deliver remote online notarization (RON) and remote online closing (ROC) capabilities to FNF's network of direct title and settlement operations, as well as its network of independent title agents.

Related link: https://www.notarycam.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/

AUCNET INC, JAPAN announces opening of US Sales and Operations Center as AUCNET DIGITAL PRODUCTS USA, LLC in Austin, Texas

AUSTIN, Texas /ScoopCloud/ -- Tokyo based AUCNET Inc (AUCNET) has announced that it has opened U.S. operations in Austin, Texas where it will maintain a new smart phone processing division to be known as AUCNET Digital Products USA, LLC (AUCNET DP USA). The company will provide Asset Recovery services and other contracted services to the U.S. Carrier, OEM, Insurance, Retail and Enterprise wireless space.

"We are very excited to announce the opening of our U.S. Sales and Operation Center to partner with our existing and future customers to provide direct services in the U.S. as well as the benefit of our Global enterprise capabilities," said Katsuhiko Ichii, Managing Executive Officer of AUCNET and CEO of AUCNET DP, USA.

AUCNET has tapped 2 respected industry veterans to lead the Sales and Operations efforts for AUCNET DP USA. Greg Roberts, will be COO. Roberts has worked in wireless reverse logistics, repair, asset recovery and recycling for 15+ years and has held leadership and executive roles at Touchstone Wireless, Brightpoint, USA, Ingram Micro Mobility and Worldwide Distributing. Most recently he was CEO of Greenstream, Intl. David Lundberg, will be Senior VP, Sales and Marketing.

Lundberg is a 30 year veteran in mobile and wireless having been one of the founders of ReCellular Inc, a partner in Touchstone Wireless LP and he has also held executive positions at Brightpoint USA and Greystone Data Technology. He was previously EVP, Business Development at Greenstream, Intl.

AUCNET's U.S. market presence allows them to leverage acquisition of devices and other digital communication products for their global world class auction platform.

"This, coupled with logistics and processing capabilities existing in Austin, will elevate AUCNET DP USA to a position of superior Asset Recovery Services in the U.S. market and abroad," said COO, Greg Roberts. "We afford our customers highest market values through expansive global marketing and auctioning of products on various e-commerce platforms."

The primary functions of the company including management of Finance, Operations, IT, HR and Quality/Engineering will all be based in the Austin, Texas location for AUCNET DP, USA. The company maintains R2 Certification status and ISO 14001 certification.

About AUCNET:
AUCNET INC. (3964.T) is a corporation publicly traded on the First Section of the Tokyo Stock Exchange. AUCNET INC. provides information-based distribution services for B2B online auctions in several vertical markets globally. These markets include used cars, motorcycles, cut flowers, digital equipment, medical equipment, as well as brand items and used PCs. AUCNET INC. was founded in 1984 and is headquartered in Tokyo, Japan.

Learn more: http://aucnetusa.com/

Tokyo based AUCNET Inc (AUCNET) has announced that it has opened U.S. operations in Austin, Texas where it will maintain a new smart phone processing division to be known as AUCNET Digital Products USA, LLC (AUCNET DP USA). The company will provide Asset Recovery services and other contracted services to the U.S. Carrier, OEM, Insurance, Retail and Enterprise wireless space.

Related link: http://aucnetusa.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/

Former FNF/Black Knight executive joins Cloudvirga as chief revenue officer

IRVINE, Calif. /ScoopCloud/ -- Cloudvirga(TM), a leading provider of digital mortgage software, today announced the appointments of Dan Sogorka as chief revenue officer and Kelly Kucera as senior vice president of marketing. Sogorka, a seasoned mortgage technology executive, will drive Cloudvirga's continued revenue growth and oversee the firm's sales and marketing strategy with the help of veteran cloud technology marketer Kucera.

"Dan's exceptional track record of delivering technology solutions to leading mortgage companies is unmatched," said Cloudvirga CEO Michael Schreck. "His leadership of Cloudvirga's sales, partner and marketing efforts in partnership with Kelly is instrumental to our continued strong growth."

Sogorka brings two decades of experience as a business unit leader and senior sales executive at private and publicly traded firms specializing in mortgage and real estate technology. Prior to joining Cloudvirga, Sogorka was president of EXOS Technologies for Fortune 500 title insurance giant Fidelity National Financial (NYSE: FNF). Before that, he was president of RealEC Technologies for mortgage data and solutions provider Black Knight (NYSE: BKI). His career contributions to the housing finance industry have earned Sogorka the Mortgage Bankers Association's Tech All-Star award and October Research's Innovator of the Year award.

Kucera has over 20 years of experience in senior-level marketing, sales and product management roles for global firms in the B2B cloud technology sector. Before joining Cloudvirga, she was head of commercial and global marketing at Arcules, a Canon Group company (NYSE: CAJ). Prior to that, Kucera oversaw global industry and commercial marketing in her role as head of marketing at global product content cloud platform 1WorldSync.

"Continual change within the mortgage industry has created new opportunities to re-imagine how technology platforms interact with all constituents across the loan life cycle," said Sogorka. "I believe Cloudvirga is in the right place at the right time. I look forward to helping guide the company's ongoing growth."

"I look forward to developing a marketing strategy that reinforces Cloudvirga's mission to help mortgage lenders decrease costs and increase borrower satisfaction," said Kucera.

Kucera and Sogorka join four other recent additions to the Cloudvirga leadership team: former loanDepot executive Tim Von Kaenel as chief product officer; former Roostify executive Jesse Decker as chief customer success officer; former Altisource CTO James Vinci as executive vice president of technology; and former Drip leader Ashley Lundquist as vice president of talent.

Cloudvirga offers hyper-motivated overachievers the opportunity to help transform a $10 trillion industry. The company provides competitive benefits including an attractive annual bonus program, equity participation and career development programs. For a list of current job openings, visit https://www.cloudvirga.com/company/careers.

About Cloudvirga(TM)

Cloudvirga's digital mortgage point-of-sale (POS) software, powered by the intelligent Mortgage Platform(r), uniquely combines a world-class borrower experience with a truly automated lender workflow that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Led by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's customer base includes nine of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $77 million from some of the country's top lenders and private-equity firms.

For more information, visit https://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn.

PHOTO LINKS FOR MEDIA:
(1) Send2Press.com/300dpi/19-0110s2p-Dan-Sogorka-300dpi.jpg
(2) Send2Press.com/300dpi/19-0110s2p-Kelly-Kucera-300dpi.jpg

REF: NY: FNF / NY: BKI / NY: CAJ

Cloudvirga(TM), a leading provider of digital mortgage software, today announced the appointments of Dan Sogorka as chief revenue officer and Kelly Kucera as senior vice president of marketing. Sogorka, a seasoned mortgage technology executive, will drive Cloudvirga's continued revenue growth and oversee the firm's sales and marketing strategy with the help of veteran cloud technology marketer Kucera.

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