Southern California Bancorp CA
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
BCAL$22.08+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(dollars in thousands, except share data)
| 2023 | 2022 | |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $33,008 | $60,295 |
| Federal funds and interest-bearing balances | 53,785 | 26,465 |
| Total cash and cash equivalents | 86,793 | 86,760 |
| Debt securities available for sale, at fair value (amortized cost of $136,366 and $121,652 at December 31, 2023 and 2022, respectively) | 130,035 | 112,580 |
| Debt securities held to maturity, at amortized cost, net of allowance of $0 for both periods (fair value of $50,432 and $47,906 at December 31, 2023 and 2022, respectively) | 53,616 | 53,946 |
| Loans held for sale | 7,349 | 9,027 |
| Loans held for investment | 1,957,442 | 1,897,773 |
| Allowance for loan losses | (22,569) | (17,099) |
| Loans held for investment, net | 1,934,873 | 1,880,674 |
| Restricted stock, at cost | 16,055 | 14,543 |
| Premises and equipment | 13,270 | 14,334 |
| Right-of-use asset | 9,291 | 8,607 |
| Goodwill | 37,803 | 37,803 |
| Core deposit intangible, net | 1,195 | 1,584 |
| Bank owned life insurance | 38,918 | 37,972 |
| Deferred taxes, net | 11,137 | 10,699 |
| Accrued interest and other assets | 19,917 | 15,398 |
| Total assets | $2,360,252 | $2,283,927 |
| LIABILITIES | ||
| Noninterest-bearing demand | $675,098 | $923,899 |
| Interest-bearing NOW accounts | 381,943 | 209,625 |
| Money market and savings accounts | 636,685 | 668,602 |
| Time deposits | 249,830 | 129,779 |
| Total deposits | 1,943,556 | 1,931,905 |
| Borrowings | 102,865 | 67,770 |
| Operating lease liability | 12,117 | 11,055 |
| Accrued interest and other liabilities | 13,562 | 12,842 |
| Total liabilities | 2,072,100 | 2,023,572 |
| Commitments and contingencies (Notes 5 and 12) | ||
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock - 50,000,000 shares authorized, no par value; no shares issued and outstanding at December 31, 2023 and 2022 | — | — |
| Common stock - 50,000,000 shares authorized, no par value; issued and outstanding 18,369,115 and 17,940,283 at December 31, 2023 and 2022 | 222,036 | 218,280 |
| Retained earnings | 70,575 | 48,516 |
| Accumulated other comprehensive loss - net of taxes | (4,459) | (6,441) |
| Total shareholders’ equity | 288,152 | 260,355 |
| Total liabilities and shareholders’ equity | $2,360,252 | $2,283,927 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.