Press release
Southern California Bancorp Completes $42 Million Capital Offering
SAN DIEGO--(BUSINESS WIRE)-- Southern California Bancorp (the “Company”) (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A. (the
About this update from California Bancorp
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nSouthern California Bancorp (the “Company”) (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A. (the “Bank”), announces the successful completion of a capital raise of approximately $42 million through the issuance of common stock in a private placement to institutional and accredited individual investors at a price of $12.00 per share.\n\n“We are very pleased with the investment community’s response to the Southern California Bancorp offering, with strong interest shown by both institutional and individual accredited investors,” said David Rainer, Executive Chairman of Southern California Bancorp.\n\n“The capital raise strengthens our balance sheet, and the Bank is now well positioned to execute on its strategic growth plans, including the expansion of its footprint in Southern California to drive organic growth in 2021,” said Nathan Rogge, President and CEO of Bank of Southern California. “We appreciate investors’ continued confidence in the Bank of Southern California’s performance and the Company’s ability to create shareholder value.”\n\nThe Bank was represented by MJC Partners, LLC, who served as the sole placement agent for the offering.\n\nABOUT MJC PARTNERS, LLC\n\nMJC Partners, LLC is a leading Los Angeles-based boutique investment banking and advisory firm providing a full range of strategic, transactional, and valuation-related services to clients across multiple industry groups. For more information about MJC Partners, visit www.mjcpartners.com.\n\nABOUT BANK OF SOUTHERN CALIFORNIA and SOUTHERN CALIFORNIA BANCORP \n\nA growing community bank, established in 2001, Bank of Southern California, N.A., with headquarters in San Diego, CA, 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 branches in San Diego County, Los Angeles County, Orange County, San Bernardino County, and the Coachella Valley in Riverside County.\n\nSouthern California Bancorp is a registered bank holding company formed for the purpose of acquiring control of the Bank. The Bank became a wholly owned subsidiary of the Company in a reorganizati...