Press release
Southern California Bancorp Reports Certain Organizational Changes
SAN DIEGO--(BUSINESS WIRE)-- Southern California Bancorp (“us,” “we,” “our,” or the “Company”) (OTC Pink: BCAL), the holding company for Bank of Southern
About this update from California Bancorp
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nSouthern California Bancorp (“us,” “we,” “our,” or the “Company”) (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A. (the “Bank”) today announced that David I. Rainer, the Chairman, President and Chief Executive Officer of the consolidated organization, has taken a temporary sabbatical from all positions with the Company and the Bank effective as of April 29, 2022, for personal reasons unrelated to his health. Although no assurances can be made, the Company and the Bank anticipate that Mr. Rainer will return as the Chairman and Chief Executive Officer of the consolidated organization following the conclusion of his sabbatical in or around early 2023. The Company’s current Lead Director Irwin Golds will become Interim Chairman of the Board of the combined organization; Thomas G. Dolan, the Company’s current Executive Vice President and Chief Financial Officer, will become the Interim CEO of both organizations; and Richard Hernandez, Executive Vice President, Chief Banking Officer, has been appointed President of the combined organization, all effective as of April 30, 2022. Additionally, Jean Carandang will join the Bank as Executive Vice President and Chief Financial Officer as of the same date.\n\n“I hold the Bank and its management team in very high esteem and am confident in the Board and management’s ability to continue executing on the relationship-based banking strategy we have put in place and I look forward to returning from this temporary sabbatical to once again lead this outstanding team,” said David I. Rainer, the outgoing Chairman, President and CEO.\n\n“I am honored to be named Interim Chairman by my fellow directors and want to assure our employees, customers and investors that Dave’s sabbatical is but a short-lived setback, and the plans Dave has put in place and the management team he has assembled has laid the foundation for our continued execution of his strategic vision for our Bank – to become the premier relationship-based community bank in Southern California and beyond,” said incoming Interim Chairman Irwin Golds. “The Board has complete confidence that Tom and Rich can carry out the duties of Interim CEO and President, respectively, and is pleased to announce their appointment to these positions. Success doesn’t come without competitive roadblocks, ...