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$22.06-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
(dollars in thousands, except per share data)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| INTEREST AND DIVIDEND INCOME | ||
| Interest and fees on loans | $113,951 | $86,366 |
| Interest on debt securities | 3,497 | 2,013 |
| Interest on tax-exempted debt securities | 1,655 | 1,372 |
| Interest on deposits at other financial institutions | 3,357 | 2,896 |
| Interest and dividends on other interest-earning assets | 1,062 | 928 |
| Total interest and dividend income | 123,522 | 93,575 |
| INTEREST EXPENSE | ||
| Interest on NOW, money market and savings accounts | 20,161 | 3,793 |
| Interest on time deposits | 6,704 | 797 |
| Interest on borrowings | 2,519 | 1,199 |
| Total interest expense | 29,384 | 5,789 |
| Net interest income | 94,138 | 87,786 |
| Provision for credit losses | 915 | 5,956 |
| Net interest income after provision for credit losses | 93,223 | 81,830 |
| NONINTEREST INCOME | ||
| Service charges and fees on deposit accounts | 1,202 | 1,014 |
| Interchange and ATM income | 744 | 782 |
| Gain on sale of loans | 831 | 1,349 |
| Income from bank owned life insurance | 946 | 1,490 |
| Servicing and related income on loans, net | 240 | 192 |
| Loss on sale of available-for-sale debt securities | (974) | (994) |
| Loss on sale and disposal of fixed assets | — | (768) |
| Other charges and fees | 390 | 610 |
| Total noninterest income | 3,379 | 3,675 |
| NONINTEREST EXPENSE | ||
| Salaries and employee benefits | 39,249 | 37,069 |
| Occupancy and equipment | 6,231 | 6,210 |
| Data processing and communications | 4,534 | 4,609 |
| Legal, audit and professional | 3,211 | 2,597 |
| Regulatory assessments | 1,508 | 1,550 |
| Director and shareholder expenses | 849 | 946 |
| Merger and related expenses | — | 1,177 |
| Core deposit intangible amortization | 389 | 438 |
| Litigation settlements, net | — | 5,525 |
| Other expenses | 3,775 | 3,401 |
| Total noninterest expense | 59,746 | 63,522 |
| Income before income taxes | 36,856 | 21,983 |
| Income tax expense | 10,946 | 5,870 |
| Net income | $25,910 | $16,113 |
| Earnings per share: | ||
| Basic | $1.42 | $0.90 |
| Diluted | $1.39 | $0.88 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.