West Coast Community Bancorp
OTCQX US Premier:SCZC

  • LAST PRICE
    38.2500
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    32.5100/ 1
  • Ask / Lots
    38.6500/ 1
  • Open / Previous Close
    --- / 38.2500
  • Day Range
    ---
  • 52 Week Range
    25.6000
    40.0000
  • Volume
    ---

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  • Oct 22, 2024

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    • 9:01AM ET on Tuesday Oct 22, 2024 by PR Newswire
      Companies Mentioned: SCZC

      Board Declares Increase in Quarterly Cash Dividend

      West Coast Community Bancorp ("Bancorp", OTCQX: SCZC), the parent company of Santa Cruz County Bank (the "Bank"), announced unaudited earnings for the third quarter ended September 30, 2024. Net income for the quarter was $8.2 million, compared to $8.2 million in the prior quarter and $9.1 million in the quarter ended September 30, 2023. Year-to-date earnings for the nine-month period ended September 30, 2024 were $25.7 million, compared to $26.3 million for the same period in 2023. The decrease from prior year primarily reflects pre-tax merger related expenses totaling $772 thousand year-to-date in 2024.

    • 9:01AM ET on Tuesday Oct 22, 2024 by MT Newswires
      Companies Mentioned: SCZC
      09:01 AM EDT, 10/22/2024 (MT Newswires) -- ...

    • 9:00AM ET on Tuesday Oct 22, 2024 by Dow Jones
      Companies Mentioned: SCZC
      taxes $ 8,199 $ 9,112 $ (913) -10 % $ 8,216 $ (17) 0 % =============== ============== ================ ======== ============= ============= ======== Basic earnings per share $ 0.98 $ 1.09 $ (0.11) -10 % $ 0.98 -- -- Diluted earnings per share $ 0.96 $ 1.08 $ (0.12) -11 % $ 0.97 $ (0.01) -1 % Book value per share $ 30.42 $ 25.93 $ 4.49 17 % $ 29.18 $ 1.24 4 % Tangible book value per share(1) $ 27.20 $ 22.65 $ 4.55 20 % $ 25.95 $ 1.25 5 % Shares outstanding 8,438,238 8,394,725 8,437,816 Ratios Net interest margin((2) 4.92 % 4.91 % 4.98 % Cost of funds((3) 1.50 % 0.87 % 1.54 % Efficiency ratio((4) 45.76 % 38.23 % 45.30 % Return on: Average assets 1.87 % 2.05 % 1.93 % Average equity 12.95 % 16.85 % 13.63 % Average tangible equity((5) 14.52 % 19.33 % 15.37 % Tier 1 leverage ratio 13.63 % 11.64 % 13.40 % Total risk-based capital ratio 16.62 % 14.83 % 16.22 % Tangible common equity ratio((6) 12.94 % 10.89 % 13.00 % ACL /Gross loans 1.66 % 1.83 % 1.66 % Noninterest-bearing deposits to total deposits 41.21 % 42.10 % 38.31 % Gross loans to deposits 91.33 % 89.95 % 96.89 % Selected Unaudited Financial Information ----------------------- (Dollars in thousands, except per share For the Nine Months Ended amounts) September 30, ----------------------------------- 2024 2023 Change $ Change % -------------------- ------------- ---------------------- -------- Income Statement Interest income $ 77,498 $ 69,278 $ 8,220 12 % Interest expense 16,446 7,658 8,788 115 % -------------------- ------------- ---------------------- -------- Net interest income 61,052 61,620 (568) -1 % Provision for loan losses (900) 1,659 (2,559) -154 % Noninterest income 3,142 3,063 79 3 % Noninterest expense 28,646 25,763 2,883 11 % -------------------- ------------- ---------------------- -------- Net income before taxes 36,448 37,261 (813) -2 % Income tax expense 10,710 10,952 (242) -2 % -------------------- ------------- ---------------------- -------- Net income after taxes $ 25,738 $ 26,309 $ (571) -2 % ==================== ============= ====================== ======== Basic earnings per share $ 3.07 $ 3.13 $ (0.06) -2 % Diluted earnings per share $ 3.04 $ 3.11 $ (0.07) -2 % Ratios Net interest margin((2) 4.92 % 4.98 % Cost of funds((3) 1.49 % 0.68 % Efficiency ratio((4) 44.62 % 39.83 % Return on: Average assets 1.98 % 2.02 % Average equity 14.15 % 16.90 % Average tangible equity((5) 15.94 % 19.49 % (1) Tangible equity equals total shareholders' equity less goodwill and other intangible assets. Tangible book value per share divides tangible equity by period ending shares outstanding. (2) Net interest margin is calculated by dividing annualized net interest income by period average interest-earning assets. (3) Cost of funds is computed by dividing annualized interest expense by the sum of period average deposits and borrowings. (4) Efficiency ratio equals total noninterest expenses divided by the sum of net interest income and noninterest income. (5) Return on average tangible equity is calculated by dividing annualized net income by period average tangible shareholders' equity. Tangible shareholders' equity is defined in note (1) above. (6) Tangible common equity ratio is calculated by dividing tangible shareholders' equity as defined in note (1) above by assets less goodwill and other intangible assets.

    • 9:00AM ET on Tuesday Oct 22, 2024 by Dow Jones
      Companies Mentioned: SCZC
      taxes $ 8,199 $ 9,112 $ (913) -10 % $ 8,216 $ (17) 0 % =============== ============== ================ ======== ============= ============= ======== Basic earnings per share $ 0.98 $ 1.09 $ (0.11) -10 % $ 0.98 -- -- Diluted earnings per share $ 0.96 $ 1.08 $ (0.12) -11 % $ 0.97 $ (0.01) -1 % Book value per share $ 30.42 $ 25.93 $ 4.49 17 % $ 29.18 $ 1.24 4 % Tangible book value per share(1) $ 27.20 $ 22.65 $ 4.55 20 % $ 25.95 $ 1.25 5 % Shares outstanding 8,438,238 8,394,725 8,437,816 Ratios Net interest margin((2) 4.92 % 4.91 % 4.98 % Cost of funds((3) 1.50 % 0.87 % 1.54 % Efficiency ratio((4) 45.76 % 38.23 % 45.30 % Return on: Average assets 1.87 % 2.05 % 1.93 % Average equity 12.95 % 16.85 % 13.63 % Average tangible equity((5) 14.52 % 19.33 % 15.37 % Tier 1 leverage ratio 13.63 % 11.64 % 13.40 % Total risk-based capital ratio 16.62 % 14.83 % 16.22 % Tangible common equity ratio((6) 12.94 % 10.89 % 13.00 % ACL /Gross loans 1.66 % 1.83 % 1.66 % Noninterest-bearing deposits to total deposits 41.21 % 42.10 % 38.31 % Gross loans to deposits 91.33 % 89.95 % 96.89 % Selected Unaudited Financial Information ----------------------- (Dollars in thousands, except per share For the Nine Months Ended amounts) September 30, ----------------------------------- 2024 2023 Change $ Change % -------------------- ------------- ---------------------- -------- Income Statement Interest income $ 77,498 $ 69,278 $ 8,220 12 % Interest expense 16,446 7,658 8,788 115 % -------------------- ------------- ---------------------- -------- Net interest income 61,052 61,620 (568) -1 % Provision for loan losses (900) 1,659 (2,559) -154 % Noninterest income 3,142 3,063 79 3 % Noninterest expense 28,646 25,763 2,883 11 % -------------------- ------------- ---------------------- -------- Net income before taxes 36,448 37,261 (813) -2 % Income tax expense 10,710 10,952 (242) -2 % -------------------- ------------- ---------------------- -------- Net income after taxes $ 25,738 $ 26,309 $ (571) -2 % ==================== ============= ====================== ======== Basic earnings per share $ 3.07 $ 3.13 $ (0.06) -2 % Diluted earnings per share $ 3.04 $ 3.11 $ (0.07) -2 % Ratios Net interest margin((2) 4.92 % 4.98 % Cost of funds((3) 1.49 % 0.68 % Efficiency ratio((4) 44.62 % 39.83 % Return on: Average assets 1.98 % 2.02 % Average equity 14.15 % 16.90 % Average tangible equity((5) 15.94 % 19.49 % (1) Tangible equity equals total shareholders' equity less goodwill and other intangible assets. Tangible book value per share divides tangible equity by period ending shares outstanding. (2) Net interest margin is calculated by dividing annualized net interest income by period average interest-earning assets. (3) Cost of funds is computed by dividing annualized interest expense by the sum of period average deposits and borrowings. (4) Efficiency ratio equals total noninterest expenses divided by the sum of net interest income and noninterest income. (5) Return on average tangible equity is calculated by dividing annualized net income by period average tangible shareholders' equity. Tangible shareholders' equity is defined in note (1) above. (6) Tangible common equity ratio is calculated by dividing tangible shareholders' equity as defined in note (1) above by assets less goodwill and other intangible assets.

  • Oct 16, 2024

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