Southern California Bancorp (the “Company”) (Nasdaq: BCAL),
announces the appointment of Richard Martin to the Board of
Directors of the Company and of its wholly owned subsidiary, Bank
of Southern California, N.A. (the “Bank”), effective May 18, 2023.
Mr. Martin has been appointed to serve on the Company’s Audit and
Risk Committee.
“We are very pleased to welcome Richard Martin
as a director to our boards,” said David Rainer, Chairman and CEO
of the Company and the Bank. “Richard brings more than 30 years of
corporate experience as a certified public accountant, including
his tenure of more than 10 years at two of the Big Four accounting
firms and 12 years of experience on the Board of Directors of
Americas United Bank, and he has a strong presence in our local
business and nonprofit communities. We believe Richard’s extensive
accounting and board experience will bring significant insights and
value to our boards.”
“I am delighted to be joining the boards of the
Company and the Bank,” said Richard Martin. “Dave and his team have
done an outstanding job of developing and expanding the Bank’s
franchise in Southern California over the last two years, while
providing outstanding service to small and medium-sized businesses
in our communities, and I look forward to contributing to its
continued development.”
Mr. Martin, a certified public accountant,
founded R. Martin & Associates in 2003, a certified public
accounting firm providing business consulting, tax, and accounting
services to a broad variety of industries. Before founding R.
Martin & Associates, he served for seven years as a Senior
Manager at PricewaterhouseCoopers (1995 – 2000; 2001 – 2003),
providing clients with business consulting, tax consulting, and
compliance services, including consulting on optimal business
structuring, mergers and acquisitions, and accounting methods
review. Prior to that, he served as a Supervising Senior Tax
Specialist for public accounting firm KPMG (1990 – 1994).
Mr. Martin served for 12 years on the board of
directors of Americas United Bank (2006 – 2018), where his tenure
included serving as the Chairman of the Asset and Liability
Committee, as well as the Nominating Committee, and as a member of
the Audit Committee. Mr. Martin currently serves on the board of
directors of Glendale Memorial Hospital-Dignity Health, City of
Burbank Treasurer’s Oversight Committee, and the foundation board
for Village Christian Schools. Additionally, he has served on the
board of directors and audit committee for the Burbank YMCA and the
Advisory Board for the Accounting Department of Glendale Community
College. He is a member of the American Institute of Certified
Public Accountants, the California Society of Certified Public
Accountants, and Latino Deal Makers.
Mr. Martin earned his bachelor’s degree in
business administration from California State University,
Northridge, and attended Golden Gate University for a master’s
degree in taxation.
ABOUT SOUTHERN CALIFORNIA
BANCORP AND BANK OF SOUTHERN
CALIFORNIA
Southern California Bancorp (NASDAQ: BCAL) is a
registered bank holding company headquartered in San Diego,
California. Bank of Southern California, N.A., a national banking
association chartered under the laws of the United States (the
“Bank”) and regulated by the Office of Comptroller of the Currency,
is a wholly owned subsidiary of Southern California Bancorp.
Established in 2001 and headquartered in San Diego, California, the
Bank offers a range of financial products and services to
individuals, professionals, and small- to medium-sized businesses
through its 13 branch offices serving Orange, Los Angeles,
Riverside, San Diego, and Ventura counties, as well as the Inland
Empire. The Bank's solutions-driven, relationship-based approach to
banking provides accessibility to decision makers and enhances
value through strong partnerships with its clients. Additional
information is available at www.banksocal.com.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
In addition to historical information, this
release includes forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements relate to expectations, beliefs,
projections, future plans and strategies, anticipated events or
trends and other matters that are not historical facts. Examples of
forward-looking statements include, among others, statements
regarding plans or objectives for future operations, products or
services, forecasts relating to financial and operating results or
other measures of economic performance, litigation and performance
and other projections and predictions regarding future results and
events. Forward-looking statements reflect management’s current
view about future events and involve risks and uncertainties that
may cause actual results to differ from those expressed in the
forward-looking statement or historical results. Forward-looking
statements can be identified by the fact that they do not relate
strictly to historical or current facts and often include the words
or phrases such as “aim,” “can,” "may," "could," "predict,"
"should," "will," "would," "believe," "anticipate," "estimate,"
"expect," “hope,” "intend," "plan," “potential," “project,” "will
likely result," "continue," "seek," “shall,” “possible,”
"projection," “optimistic,” and "outlook," and variations of these
words and similar expressions.
Some factors that could cause actual results to
differ materially from historical or expected results include,
among others: the risk factors discussed in the Company’s
Registration Statement on Form 10, as amended, filed with the
Securities and Exchange Commission; changes in general economic
conditions, either nationally or locally in the areas in which the
Company conducts business; the impact on financial markets from
geopolitical conflicts; inflation, interest rate, market and
monetary fluctuations; increases in competitive pressures among
financial institutions and businesses offering similar products and
services; higher than anticipated defaults in the Company’s loan
portfolio than expected; changes in management’s estimate of the
adequacy of the allowance for credit losses; legislative or
regulatory changes or changes in accounting principles, policies or
guidelines; and the impacts of recent bank failures.
Any forward-looking statement made in this
release is based only on information currently available to
management and speaks only as of the date on which it is made. The
Company does not undertake, and specifically disclaims any
obligation, to update any forward-looking statements to reflect
occurrences or unanticipated events or circumstances after the date
of such statements or to conform such forward-looking statements to
actual results or to changes in its opinions or expectations,
except as required by law.
INVESTOR RELATIONS CONTACT
Kevin Mc CabeBank of Southern
Californiakmccabe@banksocal.com818.637.7065
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