Tag Archives: Earning Announcements

Chelsea Groton Bank Marks Year Defined by Pandemic As ‘Record’ In Every Way

GROTON, Conn. /ScoopCloud/ -- Chelsea Groton Bank reported impressive financial, educational, technical and community-based accomplishments at its 166th Annual Meeting which was conducted over Zoom on Tuesday, April 27, 2021. President and CEO Michael Rauh presented the Bank's 2020 results to Bank officers, Board members and Corporators.

"Our focus has always been on helping individuals, families and businesses succeed in big ways and small by putting more effort into everything we do. Our team was incredibly focused on the needs of our customers, and doing whatever it took to help them succeed in the most challenging circumstances," shared Rauh. "The result was a banner year from a financial perspective, but more importantly, a year where we were everything a community bank is meant to be - a team of local people working tirelessly to ensure the people, businesses and organizations in our community are better positioned to be successful."

Chelsea Groton Bank helped almost 600 businesses obtain nearly $74 million in SBA Paycheck Protection Program (PPP) loans, more than any other lender in the area. The Bank also developed a Small Business Relief Loan program for businesses in need of additional funding as they worked to recover from the challenges of the Covid-19 pandemic. Inclusive of the $74 million in PPP loans, the Bank's commercial loan portfolio grew to $259 million, as Chelsea Groton continued to provide credit lines, term loans, permanent commercial mortgages, and construction loans to businesses across Connecticut and Rhode Island.

The Bank proudly provided more residential financing than any bank, credit union or broker in Eastern CT in 2020.* In spite of the challenging financial year for many, the dream of homeownership came true for 155 first-time homebuyers. The Bank approved a total of 908 first mortgage loans, more than twice the number of first mortgage loans closed in the year prior. Dedicated to helping people provide housing for themselves and their families, Chelsea Groton originated $5 million in CHFA loans for 30 low-to-moderate income individuals, and worked one-on-one with furloughed homeowners who were unable to make their monthly payments to offer fee forgiveness and loan deferments.

The Chelsea Groton Foundation and Bank together donated a record $1 million to the community in 2020, in response to the increased need across organizations in many giving categories. The Foundation also gave over $22,000 to area organizations through the Acts of Kindness program, $100 to the non-profit of each team member's choice. While some volunteer opportunities shifted during the pandemic, Bank team members still volunteered 3,678 hours of their time.

The Chelsea University community education program pivoted to offer programming entirely online in mid-March. Over the course of the year, customers and community members attended 166 classes on everything from credit and home-buying, to social security and Medicare, as well as classes for the aspiring and current business owner. Lifestyle programming, including a Chelsea Cooks! series, virtual yoga, and crafting events were also offered online. For community members unable to attend online classes, additional resources are always available on the Bank's E-learning Center, and recorded classes are on the Chelsea Groton YouTube page.

As of December 31, 2020, the Bank's total assets increased to $1.4 billion. Net operating income was virtually unchanged, dropping slightly, from $13,233,721 to $13,095,912 in 2020. There was a $16 million increase in capital from 2019.

"All of the Bank's success in 2020 was made possible by two big things - a dedicated team that showed an unwavering commitment to the Bank's customers and community members during this time of great need, and advanced technology that was built with a focus on bringing people and digital together," expressed Rauh.

Prior to the pandemic, the Bank deployed a system that enabled the entire staff to work entirely remotely if there was ever the need. Chelsea Groton proudly introduced Chelsea|LIVE Video Banking ATMs and a Video Banking App, giving customers the opportunity to talk live with the local banking team during extended hours when at many of the Bank's ATMs or from the convenience of the customer's phone, tablet or computer. Mobile Wallet was also rolled out, allowing customers to connect their Chelsea Groton Debit Card to Apple Pay(r), Google Pay(tm) or Samsung Pay.** The Bank continues to offer interpreter services over the phone and in person. Each of these services has helped customers manage their finances more effectively, especially as people were looking to conduct their banking safely in a more remote world.

Forbes included Chelsea Groton Bank on the "America's Best-In-State Banks" list. The Bank was once again voted "Best Bank" by the readers of The Day (2015-2020), a "Top Workplace" in the Hartford Courant based on an employee survey (2016-2020), and the "Best Place to Work" by the Eastern CT Chamber of Commerce. BauerFinancial, an independent bank rating service, awarded Chelsea Groton their "5 Star" designation for financial stability and exemplary excellence for the 107th consecutive quarter, maintaining Chelsea Groton as a "Best of Bauer" bank.

"Over the last few years, the Bank has focused on taking a consultative approach to working with every person who comes through the door," said Rauh. "We were thrilled this year to be able to offer new technologies, or more frequently utilize the ones we had, in order to provide customers with options to bank when, where and how they felt was safest or most convenient for them. Chelsea Groton will never lose sight of the importance of human interaction to truly serve our customers' needs. We're excited that many of our new technologies bring the personal and digital experience together, in order to do just that."

View the Chelsea Groton 2020 Annual Report video and financials.

At this year's meeting, Bank officials also announced the appointment of four new Corporators:

Wendy Bury of Stonington, CT: Wendy is the Founding Executive Director of the Southeastern Connecticut Cultural Coalition and the Founding Executive Director of La Grua Center, Stonington. She serves as the Policy and Issues Committee Chair for CT Arts Alliance, Trustee of the Chamber of Commerce of Eastern Connecticut, Board Member of Southeastern CT Enterprise Region (seCTer), Dept. of Emergency Management and Homeland Security Regional Recovery Steering Committee Member and Co-Chair of the Lamont/Bysiewicz Transition Arts, Culture and Tourism Policy Committee. Wendy also founded the Stonington Nonprofit Roundtable. She graduated from Colgate University with a Bachelor of Arts degree and Case Western Reserve University with a Master's degree in Art History.

Shiela Hayes of Norwich, CT: Shiela is the President of the NAACP Norwich Branch and is a Founding Member and Secretary of Sankofa Education & Leadership, Inc. She is a Corporator at Norwich Free Academy, member of the Norwich Area Clergy Association and the Rotary Community Corps of Norwich. She previously served as secretary for the City of Norwich, Ellis Walter Ruley Committee Secretary, the 150th Anniversary of the City of Norwich Emancipation Proclamation Committee and the City of Norwich Semiseptcentennial (350th) Celebration. Shiela is a recipient of the 2019 Ron Aliano Service to the Community Award, the 2017 Lottie B. Scott Diversity Award, Paul Harris Fellow from the Rotary Club Norwich #6747 and the 2009 Connecticut Council of Family Services Agencies Family Champion Award. She graduated from Quinnipiac University with a Bachelor of Science degree in Information Systems & Accounting and Rensselaer at Hartford with a Master's degree in Management.

Suki Lagrito of Norwich, CT: Suki is a local entrepreneur and liaison for Global City Norwich (NCDC's Downtown Revitalization Program). She is a Board Member of Norwich Rotary Club, and member of Norwich Public Schools Equity Committee, Norwich Adult Education Advisory Board, and Rose City United.

Larry Rivarde of Groton, CT: Larry is the Chief Operating Officer at Mystic Aquarium. He is a Board member for ZCOG (Zoo Conservation Outreach Group) and member of ZBPWG (Zoo Best Practices Working Group and AZA (Association of Zoos and Aquariums), where he also serves as a mentor for the AZA's 2017-21 ELDP (Executive Leadership Development Program). He previously served on Xavier University's Business Advisory Council and AZA's Safety & Diversity Committees. Over the years, he has facilitated many Diversity, Equity and Inclusion training workshops. He earned his Bachelor of Science degree in Accounting from Xavier University New Orleans, and an MBA in Finance and Accounting from Tulane University.

*The Warren Group, Inc. Mortgage Marketshare Module Report- All Residentials, All Regions in New London and Windham Counties, CT Annual 2020

**Apple, the Apple logo, Apple Pay, iPhone, TouchID and FaceID are trademarks of Apple Inc., registered in the U.S. and other countries.

Google Pay and the Google logo are trademarks of Google LLC. (c)2018 Google LLC, used with permission. Google and the Google logo are registered trademarks of Google LLC.

Samsung Pay and the Samsung logo are trademarks of Samsung Electronics Co., Ltd.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.4 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit www.chelseagroton.com. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Chelsea Groton Bank reported impressive financial, educational, technical and community-based accomplishments at its 166th Annual Meeting which was conducted over Zoom on Tuesday, April 27, 2021. President and CEO Michael Rauh presented the Bank's 2020 results to Bank officers, Board members and Corporators.

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

ViewTech Borescopes Reports Strong 2020 4th Quarter

TRAVERSE CITY, Mich. /ScoopCloud/ -- ViewTech Borescopes concluded 2020 with a 4th quarter, year-over-year, gain in sales. Two organizations that finalized their calendar year by adding a ViewTech VJ-3 video borescope to their maintenance and inspection protocols were a direct steam injection company and an oriented strand board manufacturer.

When the global headquarters for a direct steam injection (DSI) manufacturer sought a way to visually inspect extremely small internal passages throughout their hydro heating, steam heating, and industrialized products technology, an inquiry was placed with ViewTech Borescopes. After a brief conversation with an inspection borescope expert, it was determined the VJ-3 2.8mm x 1.0-meter video borescope would be best suited to access the DSI inspection areas described.

An advantage when considering ViewTech Borescopes remote visual inspection (RVI) video borescope technology is their free trial opportunity. During a no-cost, demo period, their DSI Quality Assurance Manager was able to inspect more than a dozen parts during a small portion of a workday. As a result, the management team, along with President and CEO, approved a year-end capital expenditure, making the VJ-3 video borescope their inspection tool.

Another demo offer that resulted in a VJ-3 video borescope being added to an inspection toolbox was with the world's largest producer of oriented strand board (OSB). While searching inspection scopes to use in conjunction with a vibration monitoring system, an inquiry was placed with ViewTech Borescopes and a VJ-3 6.0mm x 1.5-meter Dual Camera was shipped to trial. While inspecting boiler tubes, conveyors, gear boxes, and equipment throughout one of their Southeast OSB production plant and mills, they decided to purchase the inspection demo unit they were currently utilizing onsite.

VJ-3 Video Borescope

The VJ-3 mechanical articulating video borescope is a NDT instrument used for the RVI of machinery, equipment, and components. The VJ-3 facilitates the visual recording and photo documentation of inspection and components in areas that are otherwise inaccessible or require great effort and expense to access directly. The VJ-3 video borescope consists of two modules integrated into one system: an insertion tube with distally mounted camera/LEDs, and the base unit with a control panel, LCD monitor, power source, and all necessary circuitry.

About ViewTech Borescopes

ViewTech Borescopes, founded as RF System Lab in 2008, is North America's #1 seller of video borescopes. Their first product, the VJ borescope, set a new standard for portability, ergonomics, and ease-of-use, with its industry-first mechanical, joystick-controlled articulation.

For more information on VJ-3 Video Borescope: https://www.viewtech.com

MULTIMEDIA:

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Media Contact:
For more information, press only:
Duncan White, Director of Sales and Marketing
231-943-1171
dwhite@viewtech.com

ViewTech Borescopes concluded 2020 with a 4th quarter, year-over-year, gain in sales. Two organizations that finalized their calendar year by adding a ViewTech VJ-3 video borescope to their maintenance and inspection protocols were a direct steam injection company and an oriented strand board manufacturer.

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

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

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the first quarter ended March 31, 2020. Total assets increased to $852 million at March 31, 2020, up from $830 million in the prior quarter and an increase of 10.8% compared to March 31, 2019. Total loans increased to $683 million and total deposits increased to $689 million from $629 million and $636 million, respectively, at March 31, 2019. Net income for the quarter ended March 31, 2020, was $1.91 million, compared to $1.64 million in Q4 2019 and $1.85 million in Q1 2019.

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

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

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

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

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

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

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

[Quarterly Financial Highlights Table Follows]

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

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

Forward-Looking Statements
This news release may contain comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) and Bank of Southern California intends for such forward-looking statements to be covered by the safe harbor provisions of that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, in this news release. Factors that might cause such differences include, but are not limited to: the impact of the Coronavirus (COVID-19) on the economy and the Bank; the ability of the Bank to successfully execute its business plan; changes in interest rates and interest rate relationships; changes in demand for products and services; changes in banking legislation or regulation; trends in customer behavior as well as their ability to repay loans; and changes in the national and local economy.
Bank of Southern California undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Amanda Conover
Bank of Southern California
aconover@banksocal.com
858.847.4762

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

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

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

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

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

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

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

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

Bank of Southern California, N.A. (OTC Pink: BCAL) today reported results for the first quarter ended March 31, 2020. Total assets increased to $852 million at March 31, 2020, up from $830 million in the prior quarter and an increase of 10.8% compared to March 31, 2019.

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

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

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

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

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

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

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

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

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

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

[Quarterly Financial Highlights Table Follows]

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

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

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

Forward-Looking Statements
This news release may contain comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) and Bank of Southern California intends for such forward-looking statements to be covered by the safe harbor provisions of that Act.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the ability of the Bank to successfully execute its business plan; changes in interest rates and interest rate relationships; changes in demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking legislation or regulation; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; and changes in the national and local economy.
Bank of Southern California undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Amanda Conover
Bank of Southern California
aconover@banksocal.com
858.847.4762

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

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

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

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

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

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

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

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

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

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

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

Bank of Southern California, N.A. 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

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

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

Bank of Southern California 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/

LBA Ware’s CompenSafe Finishes 2Q19 with $3.6B in Lifetime Compensation Calculations

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, closed the second quarter of 2019 having completed $3,622,659,995 in lifetime calculations of origination commissions, management overrides and operational bonuses through its CompenSafe(TM) sales incentive platform.

2Q19 was an explosive quarter for new loan production overall, according to estimates published by Inside Mortgage Finance, and CompenSafe considerably outpaced overall industry growth, processing a daily average of $1.7 billion in new application volume and over $1.1 billion in funded loan volume (a 64.35% increase and 40.2% increase from 2Q18, respectively).

"CompenSafe has been gaining momentum with banks, credit unions and independent mortgage lenders eager to shed the inefficiency and headaches of manual incentive calculation and leverage their compensation data to make more incisive business decisions," said LBA Ware Founder and CEO Lori Brewer. "The last quarter saw much-needed industry gains in loan production, and we are proud to have responded to the increased system demands of industry growth with continued service excellence."

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 #mortgagebanking #digitalmortgage #CompenSafe @IMFpubs

LBA Ware(TM), provider of the leading automated incentive compensation and sales performance management platform for mortgage lenders, closed the second quarter of 2019 having completed $3,622,659,995 in lifetime calculations of origination commissions, management overrides and operational bonuses through its CompenSafe(TM) sales incentive platform.

Related link: https://lbaware.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

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

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 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 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/

Anow Closes 2018 with 110-percent Year-over-Year Increase in Orders Processed Through Its Digital Appraisal Office Management Technology

RED DEER, Alberta /ScoopCloud/ -- Digital appraisal management software developer Anow reported a record 110 percent year-over-year increase in appraisal orders processed through its core appraisal office management platform in 2018 despite an industry-wide, market-driven drop in orders per customer. The announcement follows a year punctuated by major product launches and enhancements as the growing firm continues to lead the appraisal industry in innovation.

"We're proud to put appraisal firms that use Anow light years ahead of their competition," said Anow Founder and President Marty Haldane. "In 2019, we'll continue to redefine the speed, efficiency and transparency with which appraisers work with mortgage lenders and other clients."

Just last month, Nations Valuations Services integrated Anow's appraisal management software into its AppraisalTRAX(TM) management system, fueling faster turn times for its 16,000-strong appraiser network and an improved experience for its mortgage lender customers.

In September, Anow filed patents to protect its proprietary mass collaboration technology, which enables teams of appraisers to radically reduce turn times by working simultaneously on appraisal reports and which Anow expects will power the next generation of bifurcated appraisal products.

Anow also filed patents on its proximity-based assignment system designed to improve the borrower experience and reduce friction in the inspection-setting process.

In August, the company announced its forthcoming Anow Enterprise, a platform for mortgage lenders that enables instant, on-demand appraisal booking and leverages artificial intelligence to pair lender deadlines and quality-control criteria with the best appraiser for the job based on availability, travel schedule and workload.

May 2018 saw the introduction of Anow Connect, a platform that connects appraisal firms directly with their customers via a branded, mobile-first portal that automates appraisal order acceptance, scheduling, status updates, file sharing, messaging, report delivery and payment collection.

Anow also rolled out over 4,100 feature enhancements designed to simplify the lives of appraisers and help make their businesses more efficient. These included significant enhancements to Anow's mobile appraisal and home inspection platforms; simplification of Anow's payment collections, payment processing and payroll systems; significant improvements to the APIs that facilitate integrations with Anow's partners; enhanced reporting; and architectural changes to accommodate the platform's growing volume of appraisers and orders.

Anow also added new capabilities that enable multiple appraisal companies to more seamlessly work together and gave users the ability to import work history into Anow.

Anow is currently accepting participants for a closed beta of its next appraisal software innovation, Anow NEXUS, which is being developed with input from the American Society of Appraisers (ASA), the National Association of Appraisers (NAA) and the Business Association of Real Estate Appraisers (BAREA). For more information, see https://anow.com/NAA.

ABOUT ANOW:

Anow is an appraisal management software developer that simplifies the way real estate appraisers manage their businesses. Launched in 2011 by multi-generational appraisal professional Marty Haldane, Anow streamlines a wide range of everyday appraisal processes while offering unmatched business insights to help appraisers compete in today's digital environment. Powerful order tracking, job assignment, collaboration and scheduling tools allow appraisers and administrative staff to save time, assign appraisals more easily and deliver exceptional service to clients and mortgage lenders from any web-enabled device. Advanced reporting enables business owners to manage fee competition and turn times with ease. Anow is headquartered in Red Deer, Alberta.

For more information, visit https://anow.com/.

Twitter: @AppraisersNow #DigitalAppraisal

Digital appraisal management software developer Anow reported a record 110 percent year-over-year increase in appraisal orders processed through its core appraisal office management platform in 2018 despite an industry-wide, market-driven drop in orders per customer.

Related link: https://anow.com/

The Cooksey Team Achieves 35 Percent Increase in Profitability in 2018 Despite Overall Mortgage Market Decline

DALLAS, Texas /ScoopCloud/ -- The Cooksey Team, a top-producing retail branch of Mid America Mortgage, Inc., announced today it has achieved year-over-year growth in volume and profitability for the sixth year running. In 2018, The Cooksey Team increased its overall volume by 27 percent over the previous year and increased the number of loan units closed by 28 percent. In addition, the branch decreased its cost to originate by 14 percent, resulting in a 35 percent increase in branch profitability.

"At a time when volumes are down and the cost to originate is up, we've been able to buck industry trends, and that's due in large part to Mid America's commitment to utilizing technology to make our operations more efficient," said Michael Cooksey, founder of The Cooksey Team. "With the adoption of our eClosing process and top-notch CRM system, as well as utilizing Fannie Mae's Day 1 Certainty program, Mid America has modernized its operations, and our LOs are reaping the benefits."

More than 80 percent of Cooksey Team loan originators (LOs) increased their production in 2018, with some achieving as much as 100 percent growth over 2017. In addition, several LOs have achieved top-tier status in their respective markets, including Wesley Ryan Grubbs, Brandon Findley and Darren Lovell, and The Cooksey Team was honored by the Dallas Business Journal as one of North Texas's "Best Places to Work" for the second consecutive year.

"When you have the proper technology and resources in place, along with support from the executive level down, it is possible to thrive in a down market," Cooksey said. "LO and branch success has always been a top priority at Mid America, and not only has the firm's investment in the tools and support paid off tremendously this year, but we expect to see that success continue into 2019 as we look to bring on more top-tier talent."

As the head of Mid America's most successful branch, Cooksey will be leading the firm's branch and LO recruitment efforts in 2019. Loan originators and branches interested in joining Mid America Mortgage should contact Cooksey directly at (972) 767-5701.

About The Cooksey Team:

Headquartered in Dallas, The Cooksey Team is a top performing retail branch of Texas-based lender Mid America Mortgage and has offices located throughout the North Texas and Los Angeles County areas.

With 16 years in the industry and six years with Mid America, Cooksey Team Founder Michael Cooksey brings the experience and knowledge needed to lead a successful mortgage transaction. Utilizing The CORE Training methodology, Michael has coached his own staff, as well as loan officers, brokers and real estate agents across the country, to become top producers. The Cooksey Team loan officers average six closings per month and $250,000 in annual income. In addition, the branch has increased its annual origination volume by nearly 50 percent year-over-year and is projected to achieve $350 million in volume in 2018. For more information on The Cooksey Team, visit https://www.cookseybranch.com/.

About Mid America Mortgage, Inc.:

Mid America Mortgage, Inc., Addison, Texas, is a multi-state, full-service mortgage lender serving consumers and mortgage originators through its retail, wholesale and correspondent channels. In operation since 1940, Mid America has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes. The company offers a wide range of residential home loan programs to meet the needs of most home buyers and homeowners and are also the nation's leading provider of Section 184 home loans for Native Americans. Learn more at https://www.midamericamortgage.com/.

Mid America is looking for tech-savvy, service-oriented mortgage professionals to join its growing team. We are dedicated to providing our employees with industry-leading tools and technology to deliver a great package of competitive pricing, programs and knowledgeable service. Want to join our team? Visit http://www.midamericamortgage.com/careers/.

Twitter: @midamericamtge @TheCookseyTeam

The Cooksey Team, a top-producing retail branch of Mid America Mortgage, Inc., announced today it has achieved year-over-year growth in volume and profitability for the sixth year running. In 2018, The Cooksey Team increased its overall volume by 27 percent over the previous year and increased the number of loan units closed by 28 percent.

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

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

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL) announced quarterly net income of $874,988 for the third quarter of 2018, compared to $1,088,043 for the third quarter of 2017. For the nine months ended September 30, 2018, net income was $3,253,441, compared to $2,830,295 for the nine months ended September 30, 2017. Results for the quarter and nine months ended September 30, 2018, include approximately $1.2 million and $1.6 million, respectively, in expenses related to the acquisition of Americas United Bank (OTC Pink: AUNB), which was completed on July 31, 2018.

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

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

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

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

[Quarterly Financial Highlights Table Follows]

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

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

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

Forward-Looking Statements
This news release may contain comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) and Bank of Southern California intends for such forward-looking statements to be covered by the safe harbor provisions of that Act.

Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the ability of the Bank to successfully execute its business plan; changes in interest rates and interest rate relationships; changes in demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking legislation or regulation; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; and changes in the national and local economy.

Bank of Southern California undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

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

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

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

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

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

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

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

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

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

Bank of Southern California, N.A. (OTC Pink: BCAL) announced quarterly net income of $874,988 for the third quarter of 2018, compared to $1,088,043 for the third quarter of 2017. For the nine months ended September 30, 2018, net income was $3,253,441, compared to $2,830,295 for the nine months ended September 30, 2017. Results for the quarter and nine months ended Sept. 30, 2018, include approximately $1.2 million and $1.6 million, respectively, in expenses related to the acquisition of Americas United Bank (OTC Pink: AUNB), which was completed on July 31, 2018.

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

Bank of Southern California N.A. Announces First Quarter 2018 Results

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,072,303 for the first quarter of 2018, a 51% increase compared to $710,022 for the first quarter of 2017. Results for the quarter ended March 31, 2018, include approximately $320 thousand in expenses related to the pending acquisition of Americas United Bank (OTC Pink: AUNB). As previously announced, the Bank also completed a private placement offering of common stock of approximately $26 million during March 2018.

"Building from the successes of 2017, Bank of Southern California had a strong start to 2018. Our loans and deposits grew 17% and 16%, respectively, compared to the first quarter of 2017, while net interest income grew 24%. In the first quarter, the Bank was also recognized as a top SBA 7(a) lender by the San Diego District Office of the Small Business Loan Administration and was awarded a Super Premier Performing Bank status by The Findley Reports," commented Nathan Rogge, President and CEO of Bank of Southern California.

Total assets at March 31, 2018, were $522 million, up 9% from $480 million at December 31, 2017, and up 21% from $430 million at March 31, 2017. Total loans increased to $409 million at March 31, 2018, compared to $399 million and $349 million at December 31, 2017, and March 31, 2017, respectively, while total deposits were $444 million at March 31, 2018, compared to $407 million at December 31, 2017, and $383 million at March 31, 2017.

"I am delighted that we continued to organically grow our loan and deposit portfolios in San Diego County, the Coachella Valley, and Orange County in the first quarter, when much of our energy was focused on planning for the acquisition of Americas United Bank (AUNB), as well as successfully completing a $26 million capital offering," 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 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 seven branches in San Diego and the Coachella Valley in Riverside County, and a production office in Orange, Calif..

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

Quarterly Financial Highlights Table:
https://www.banksocal.com/wp-content/uploads/18-0502-BCAL-2018-q1-chart-695x869.png

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 - https://www.banksocal.com/about-us/financials/

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

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,072,303 for the first quarter of 2018, a 51% increase compared to $710,022 for the first quarter of 2017. Results for the quarter ended March 31, 2018, include approximately $320 thousand in expenses related to the pending acquisition of Americas United Bank (OTC Pink: AUNB). As previously announced, the Bank also completed a private placement offering of common stock of approximately $26 million during March 2018.

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

Bank of Southern California, N.A. Announces Fourth Quarter and Year-end 2017 Results

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,134,397 for the fourth quarter of 2017, compared to $1,088,043 for the third quarter of 2017 and $902,476 for the fourth quarter of 2016. For the year, net earnings were $3,964,692 in 2017, a 32% increase compared to $3,009,251 for 2016. Results for the fourth quarter and year ended December 2017 include a $200,000 increase in income tax expense due to recent Tax Reform legislation.

"We are very pleased to report our fourth quarter and year-end results. In 2017, we continued to experience strong organic growth in our existing San Diego and Coachella Valley markets, and we expect to see similar results in our recent expansion into Orange County," commented Nathan Rogge, President and CEO of Bank of Southern California.

Total assets ended the year of 2017 at $480 million, up from $468 million at September 30, 2017, and up from $424 million at December 31, 2016. Total loans increased to $399 million at December 31, 2017, compared to $388 million and $333 million at September 30, 2017, and December 31, 2016, respectively, while total deposits were $407 million at December 31, 2017, compared to $418 million at September 30, 2017, and $377 million at December 31, 2016.

In addition to the company's solid financial performance, in 2017 the bank continued to build on its momentum to continue to create an organization that is the bank and employer of choice for Southern California business owners and our employees, with the company executing on two strategic initiatives focused on the customer experience and employee engagement. "We are very grateful for our loyal clients, and our experienced team of business banking professionals, who are the reason for our success in 2017," concluded Rogge.

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: 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 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 seven branches in San Diego and the Coachella Valley in Riverside County, and a production office in Orange, CA.

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

* Quarterly Financial Highlights Table Follows (PDF):
https://www.banksocal.com/wp-content/uploads/December-2017-QTR-End-Results-Web.pdf

Ticker: OTC Pink: BCAL / OTC:BCAL / OTCMKTS:BCAL / OP: BCAL

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,134,397 for the fourth quarter of 2017, compared to $1,088,043 for the third quarter of 2017 and $902,476 for the fourth quarter of 2016. For the year, net earnings were $3,964,692 in 2017, a 32 percent increase compared to $3,009,251 for 2016. Results for the fourth quarter and year ended December 2017 include a $200,000 increase in income tax expense due to recent Tax Reform legislation.

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

LBA Ware’s CompenSafe Hits $1 Billion in Lifetime LO Compensation Calculations

MACON, Ga. /ScoopCloud/ -- LBA Ware(TM), a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced their sales incentive platform CompenSafe calculated $1 billion in lifetime origination commissions and operational bonuses in 2017. LBA Ware also experienced notable year-over-year growth, marked by a 152 percent increase in total compensation processed and a 130 percent increase in the number of lenders using LOS Talker, the company's systems integration solution.

"2017 has been a year of extraordinary achievement for LBA Ware, marked by more than 100 percent growth for both CompenSafe and LOS Talker, and by reaching the $1 billion mark in compensation calculated by CompenSafe, we're now proud members of the 'three comma club," said Lori Brewer, CEO of LBA Ware. "Our clients' success is our success. We provide the go-to platform for incentive compensation, sales performance and actionable insights on which to build a lasting company with motivated, informed and empowered individuals."

In addition to new business growth, LBA Ware has also charted excellent helpdesk and training statistics in 2017. The company averaged a 96 percent approval for help desk tickets solved and responded to 80 percent of helpdesk tickets within 24 hours, and company staff received 1,122 hours of internal training.

"LBA Ware has set itself apart as a company that knows the mortgage industry from the ground up and truly understands what our clients expect and need from our solutions," said Brewer. "Our commitment to providing staff with internal training and offering customers with top-notch support continues to drive the success of our larger strategy to grow business by administering a seamless user experience and delivering superior customer satisfaction. We will continue to prioritize our customers by investing in staff training as growth and need demand."

About LBA Ware:

Founded in 2008, LBA Ware's mission is to inspire opportunity by delivering solutions that become essential to the way mortgage companies operate. We strive to be 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 organization. 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 their software solutions, visit http://lbaware.com.

LBA Ware, a leading provider of automated compensation software and systems integration solutions for mortgage lending and retail banking, announced their sales incentive platform CompenSafe calculated $1 billion in lifetime origination commissions and operational bonuses in 2017. LBA Ware also experienced notable year-over-year growth, marked by a 152 percent increase in total compensation processed and a 130 percent increase in the number of lenders using LOS Talker, the company's systems integration solution.

Related link: http://lbaware.com/

Bank of Southern California NA Announces Third Quarter 2017 Results

SAN DIEGO, Calif. /ScoopCloud/ -- Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,088,043 for the third quarter of 2017, compared to $1,032,230 for the second quarter of 2017 and $642,186 for the third quarter of 2016. For the first nine months of 2017, net earnings were $2,830,295, compared to $2,106,775 for the first nine months of 2016.

Nathan Rogge, President and CEO of Bank of Southern California, commented, "Our significant improvement in earnings compared to the prior year is the result of the Bank's success in growing our loan and deposit portfolios, which is a testament to how our high quality commercial banking products and services are being received in the San Diego and Coachella Valley markets that we serve."

Total assets ended the third quarter of 2017 at $468 million, up from $434 million at June 30, 2017, and up from $418 million at September 30, 2016. Total loans increased to $388 million at September 30, 2017, compared to $354 million and $332 million at June 30, 2017, and September 30, 2016, respectively, while total deposits increased to $418 million at September 30, 2017, compared to $385 million at June 30, 2017, and $380 million at September 30, 2016.

"2017 is shaping up to be another record year for the Bank and we look forward to continuing this momentum in 2018. We have a great team of business banking professionals and their hard work is reflected in our results," 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, 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 seven branches in San Diego and the Coachella Valley in Riverside County. For more information, please visit https://www.banksocal.com/ or call (858) 847-4780.

Forward-Looking Statements:

This news release may contain comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) and Bank of Southern California intends for such forward-looking statements to be covered by the safe harbor provisions of that Act.

Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the ability of the Bank to successfully execute its business plan; changes in interest rates and interest rate relationships; changes in demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking legislation or regulation; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; and changes in the national and local economy.

Bank of Southern California undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

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

Quarterly Financial Highlights Table:
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 - https://www.banksocal.com/about-us/financials/

Bank of Southern California, N.A. (OTC Pink: BCAL / OTCMKTS:BCAL) announced quarterly earnings of $1,088,043 for the third quarter of 2017, compared to $1,032,230 for the second quarter of 2017 and $642,186 for the third quarter of 2016. For the first nine months of 2017, net earnings were $2,830,295, compared to $2,106,775 for the first nine months of 2016.

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

McWhirter Realty Partners Announces 15-percent Growth in 2016

ATLANTA, Ga. /ScoopCloud/ -- McWhirter Realty Partners, a comprehensive real estate services firm offering brokerage, property management and development services, today announced a significant increase in business during 2016, realizing 15 percent growth over 2015.

"We were able to take advantage of the continued growth in real estate markets such as land, investment sales and property management," said Barry E. McWhirter, President and CEO.

McWhirter Realty Partners also announces that Wes Allen has joined the company as a broker who brings immeasurable experience in retail brokerage and management - an area where McWhirter Realty Partners already has a significant history of success. McWhirter acquired the property management agreements of six retail centers across Atlanta with the addition of Allen.

"We have worked with Wes for years in the industry and always respected his track record of achievement with retail and commercial brokerage, management and acquisition," said McWhirter. "He compliments our strategic plan to grow the company and we are glad he's joined our team."

The company serves the 20-county area of metro Atlanta and neighboring southeastern states.

McWhirter Realty Partners:

Founded in 1981, McWhirter Realty Partners has established itself as a leading real estate services firm averaging more than 200 sale and lease transactions representing in excess of $150 million in real estate volume. McWhirter Realty Partners focuses on brokerage, property management and development services with expertise in industrial, office, retail, medical and land sales throughout the United States.

The company consistently ranks as a Top Ten Producer as recognized by the Atlanta Commercial Board of Realtors. McWhirter Realty Partners is located at 300 Galleria Parkway, Suite 300, Atlanta, GA 30339.

Learn more: http://www.mcwrealty.com/.

McWhirter Realty Partners, a comprehensive real estate services firm offering brokerage, property management and development services, today announced a significant increase in business during 2016, realizing 15 percent growth over 2015.

IDS Hits Multiple Daily Mortgage Document Preparation Records in 2015, Achieves Significant Growth Despite TRID Challenges

SALT LAKE CITY, Utah, April 18, 2016 (SEND2PRESS NEWSWIRE) -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced it achieved 11 single-day company records for total document orders in 2015. Overall document fulfillment increased 24 percent from 2014 to 2015, with initial disclosures and closing documents seeing similar growth (26 percent and 22 percent, respectively). IDS also saw increased adoption of its eSign functionality in 2015, with 45 percent more documents electronically signed as compared to 2014.

In terms of new business, IDS experienced the greatest growth in the Northeast region, increasing its new client acquisitions in this area by 46 percent. The company also saw significant gains in the Southeast region (32 percent) and through its affiliate sales in Texas (29 percent).

"2015 was a time of tremendous change and uncertainty for the mortgage industry," said Mark Mackey, vice president of IDS. "To experience this kind of success in that kind of environment demonstrates not only the importance of documents in the mortgage process, but it is also a testimony to the quality of documents and service IDS provides to the industry."

Additionally, IDS made many substantive changes to the organization in preparation for the implementation of the TILA-RESPA Integrated Disclosure (TRID). The firm doubled its data storage and processing capabilities, and more than 70 percent of its flagship document preparation system idsDoc had to be altered or adjusted in some way due to TRID requirements.

"Over the course of 2015, we issued six major TRID-related software releases, in addition to our routine system updates, and the attention to detail we paid to these changes really paid off for our customers," Mackey added. "The feedback we received from clients on how IDS handled TRID was overwhelmingly positive, and our customers seemed to experience fewer issues overall."

About IDS, Inc.:

IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include electronic signatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regards to major industry compliance changes.

More information: http://info.idsdoc.com/.

Twitter: @idsDoc #mortgage #TRID

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/ids-hits-multiple-daily-mortgage-document-preparation-records-in-2015-achieves-significant-growth-despite-trid-challenges-2016-0418-04.shtml.

NEWS SOURCE International Document Services, Inc. :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2016 Send2Press® Newswire, a service of Neotrope®.