Beach Cities Commercial Bank Announces Second Quarter 2025 Financial Results
The Bank was incorporated under the laws of the State of California on April 11, 2022. The Bank opened for business on June 12, 2023, after receiving all necessary regulatory approvals, and it began providing a full range of banking services from its branch locations in Irvine and Encinitas, California. The Bank operates primarily in the Southern California commercial markets, offering business and personal deposit accounts. The lending products include loans secured by commercial real estate, commercial and industrial loans, guidance lines of credit supporting bridge loans, lines of credit, SBA 7A and 504 loans, SBA express lines of credit, and State guaranteed loans. The Bank has a state-of-the-art technology platform and offers cash management products and services to allow its customers the ability to focus on their business and not worry about banking.
Significant items for the period include:
Total assets were $162.5 million as of June 30, 2025, which increased by $81.3 million from June 30, 2024 (100% growth).
Total loans were $131.3 million as of June 30, 2025, which increased by $68.2 million from June 30, 2024, (108% growth).
Total deposits were $133.0 million as of June 30, 2025, which increased by $71.7 million from June 30, 2024 (117%).
Total liquidity remains high at $27.6 million, which equates to 17.01% of the Bank's total assets. The Bank also maintains contingent available borrowing sources at $20.3 million which equals 12.5% of total assets.
The loan portfolio average yield was 7.57% which contributed to a healthy net interest margin at 3.48% as of June 30, 2025.
The Bank maintains a reserve for credit losses of $1.272 million which equates to 0.97% of total loans. As of June 30, 2025, the Bank had zero dollars in both delinquent and non-performing loans.
The shareholders' equity was at $14.9 million as of June 30, 2025, which was reduced by $305k from December 31, 2024, mainly due to the operating loss. The Bank's tier 1 capital to average assets ratio was at 9.55%, which is considered well-capitalized under the regulatory framework.
The Bank reported the second-quarter of 2025 net loss of $260.7k which increased slightly from the first-quarter of 2025 loss of $242k. During the second quarter, the Bank increased its loan portfolio by $7.85 million, which increased its quarterly total interest income by $476.1k.
During the second quarter of 2025 the total interest income was $2.77 million compared to $2.28 million recorded during the first quarter of 2025, an increase of 21%. The Bank's interest expense from the interest-bearing deposits was $1.26 million for the second quarter of 2025 compared to $1.08 million for the first quarter of 2025 an increase of 16.7%. The interest expense increased due to the growth in the short-term institutional CDs deposits. The Bank has launched a campaign to replace these high- cost institutional CD deposits with non-interest-bearing deposits to reduce the interest cost. During the second quarter of 2025, the Bank increased its borrowings from the Federal Home Loan Bank of San Francisco (FHLBSF). As a result, the Bank's borrowing interest expense increased to $47k in the second quarter of 2025 compared to $4.9k interest expense from borrowings during the first quarter, 2025. The second quarter 2025 net interest income increased by $302k from the first quarter 2025, an increase of 25.1%.
In the second quarter of 2025, the Bank sold SBA loans which netted gains of $168k compared to $255k in gain on sale realized in the first quarter 2025.
Total non-interest expenses for the second quarter of 2025 were $1.88 million compared to $1.71 million incurred during the first quarter, 2025, an increase of $171.1k. During the second quarter, the technology/data processing expense increased due to the Bank's growth in opening new accounts and adding new products/services such as Zelle. The legal expenses were $49k in the second quarter, 2025, compared to $16.5k in the first quarter, 2025. The $32.5k increase was for non-recurring legal costs related to leadership and staff changes incurred during the second quarter, 2025. The Bank continues to manage its operating expenses tightly.
As noted above, the Bank's liquidity remains above 17% of total assets. The Bank has also established contingent lines of borrowings with its correspondent banks, including Federal home loan Bank of San Francisco. As of June 30, 2025, total contingent borrowing sources unused totaled $20.3 million or 12.5% of total assets outstanding.
'The Bank's asset quality remains strong with no delinquent and non-performing loans on its balance sheet. Our quality deal flow for both loans and deposits continue to look strong,' commented Matt Blackmer, Chief Credit Officer.
'In June this year, the Bank completed its two years in operation. The Bank's growth has been in par with our planned projected growth. Our goal for the remainder of this year is to continue to grow revenues and control operating costs. With this trajectory, we plan to achieve sustained profitability,' commented Najam Saiduddin, Chief Financial Officer.
'As we embark on our search for our new President/CEO, the Bank continues to grow in a thoughtful, safe, and sound manner. We continue our commitment to high ethics and business standards, all the hallmarks in creating a successful enterprise. Our Board, and the entire Beach Cities Commercial Bank team remains focused in attaining and achieving our strategic goals and objectives,' commented Angela Bienert, Chairperson.
Beach Cities Commercial Bank is a full-service bank, serving the business, commercial and professional markets. The Bank meets the financial needs of its business clients with loans for working capital, equipment, owner-occupied and investment commercial real estate, and a full array of cash management services and deposit products for businesses and their owners. Beach cities Commercial Bank meets its clients' needs through its head office and branch in Irvine and regional office and branch in Encinitas, California. The Bank's stock is currently trading on the OTCQB platform under the 'BCCB' stock symbol. For more information, please visit www.beachcitiescb.com/investor-relations.
FORWARD-LOOKING STATEMENT: This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified using words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would," and similar terms and phrases. including references to assumptions. Forward-looking statements are based upon various assumptions and analyses made by the Bank (which includes the Bank) considering management's experience and its perception of historical trends. Current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements do not guarantee future performance and are subject to risks, uncertainties, and other factors (many of which are beyond the Bank's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. factors that could affect the Bank's results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Bank's control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may reduce interest margins; changes in deposit flows, loan demand or real estate values may adversely affect the business of the Bank; unanticipated or significant increases in loan losses; changes in accounting principles, policies or guidelines may cause the Bank's financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Bank's financial condition or results of operations; general economic conditions, either nationally or locally in some or all areas in which the Bank conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Bank currently anticipates; legislation or regulatory changes may adversely affect the Bank's business; technological changes may be more difficult or expensive than the Bank anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Bank anticipates; or litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Bank anticipates.
Beach Cities Commercial Bank
Unaudited Statements of Financial Condition
Asset As of Dec 31, 2024 Qtr. Growth $ Qtr. Growth % As of June 30, 2024 Annual Growth $ Annual Growth %
Debt Securities Available for Sale
$
998,522
984,026
14,496
1
%
$
992,559
5,963
1
%
FHLB Stock
$
572,000
124,800
447,200
358
%
$
108,500
463,500
427
%
Total Investments
$
1,570,522
1,108,826
461,696
42
%
$
1,101,059
469,463
43
%
Gross Loans
$
131,335,545
105,648,160
25,687,385
24
%
$
63,135,638
68,199,907
108
%
Allowance for Credit Losses
($
1,272,000
)
(1,214,000
)
(58,000
)
(5
%)
($
726,000
)
(546,000
)
(75
%)
Net Loans
$
130,063,545
104,434,160
25,629,385
25
%
$
62,409,638
67,653,907
108
%
Fixed Assets
$
163,382
189,606
(26,225
)
(14
%)
$
222,669
(59,288
)
(27
%)
Right of Use Assets
$
1,202,008
1,386,721
(184,713
)
(13
%)
$
1,566,409
(364,401
)
(23
%)
Prepaid
$
1,170,016
1,061,411
108,606
10
%
$
1,158,273
11,743
1
%
Total Other Assets
$
692,369
492,926
199,444
40
%
$
388,870
303,500
78
%
Total Assets
$
162,491,738
$
130,785,714
$
31,706,024
24
%
$
81,192,436
$
81,299,303
100
%
Demand Deposit Accounts
$
15,011,398
$
13,870,624
$
1,140,774
8
%
$
7,192,511
$
7,818,887
109
%
NOW Accounts
$
922,522
938,289
(15,767
)
(2
%)
$
859,602
62,920
7
%
Money Market Accounts
$
50,456,931
48,539,814
1,917,116
4
%
$
26,145,078
24,311,852
93
%
Total Demand Deposits
$
66,390,850
63,348,727
3,042,123
5
%
$
34,197,191
32,193,659
94
%
Savings Accounts
$
5,060,922
5,058,477
2,445
0
%
$
39,286
5,021,636
12,782
%
Total CDs
$
61,587,394
44,484,698
17,102,696
38
%
$
27,101,286
34,486,108
127
%
Total Deposits
$
133,039,166
112,891,902
20,147,264
18
%
$
61,337,763
71,701,403
117
%
Other Borrowed < 1 Yr
$
12,000,000
-
12,000,000
100
%
$
0
12,000,000
100
%
Total Other Liabilities
$
2,526,114
2,661,935
(135,821
)
(5
%)
$
2,846,402
(320,288
)
(11
%)
Total Liabilities
$
147,533,280
115,553,837
31,979,444
28
%
$
64,184,166
83,349,115
130
%
Common Stock
$
25,116,895
25,116,895
-
0
%
$
25,019,375
97,520
0
%
Surplus
$
667,786
470,347
197,439
42
%
$
416,786
251,000
60
%
Retained Earnings
($
10,355,311
)
(5,831,485
)
(4,523,826
)
(78
%)
($
5,831,485
)
(4,523,826
)
(78
%)
FAS 115 Unrealized Gain/Loss
($
296
)
(54
)
(242
)
(448
%)
($
1,424
)
1,128
79
%
Profit/Loss YTD
($
502,616
)
(4,523,826
)
4,021,210
89
%
($
2,594,981
)
2,092,365
81
%
Total Equity
$
14,926,458
$
15,231,877
($
305,419
)
(2
%)
$
17,008,270
($
2,081,812
)
(12
%)
Total Liabilities & Equity
$
162,491,738
$
130,785,714
$
31,706,024
24
%
$
81,192,436
$
81,299,303
100
%
Expand
BEACH CITIES COMMERCIAL BANK
UNAUDITED STATEMENT OF OPERATIONS
For the Three Months Ended For the Six Months Ended For the Twelve Months Ended For the twelve Months Ended
June 30, 2025 March 31, 2025 December 31, 2024 June 30, 2025 June 30, 2024 December 31, 2024 December 31, 2023
Interest Income:
Interest and fees on loans
$
2,515,860
$
2,062,683
$
1,634,051
$
4,578,543
$
1,643,372
$
4,692,037
$
336,181
Interest on securities
18,549
13,586
13,814
32,135
26,259
54,054
17,320
Interest on federal funds sold and other interest-bearing deposits
231,188
207,270
213,719
438,458
467,161
860,018
821,283
Total Interest Income
2,765,597
2,283,539
1,861,584
5,049,136
2,136,792
5,606,109
1,174,784
Interest Expense:
Interest on Deposits
1,212,316
1,074,406
859,137
2,286,722
841,701
2,404,973
348,700
Interest on Borrowings
47,128
4,968
945
52,096
19
12,941
-
Total Interest Expense
1,259,444
1,079,374
860,082
2,338,818
841,720
2,417,914
348,700
Net Interest Income
1,506,153
1,204,165
1,001,502
2,710,318
1,295,072
3,188,195
826,084
Provisions for Credit Losses
64,000
-
381,000
64,000
429,000
927,000
317,000
Net interest income after provisions for loan losses
1,442,153
1,204,165
620,502
2,646,318
866,072
2,261,195
509,084
Non-interest income:
Service charges, fees and other
9,656
7,769
3,004
17,425
9,264
18,662
1,706
Gain on sale of loans
168,249
255,034
127,399
423,283
-
127,399
-
177,905
262,803
130,403
440,708
9,264
146,061
1,706
Non-Interest expense:
Salaries and employee benefits
1,167,215
1,134,486
1,134,175
2,301,701
2,240,449
4,481,445
2,318,336
Occupancy and Equipment expenses
171,924
167,812
169,431
339,736
346,325
691,504
408,909
Organization Expenses
-
-
-
-
-
1,045,800
Data Processing
192,403
150,569
172,028
342,972
303,432
628,030
332,424
Legal
49,198
16,485
19,633
65,683
34,785
Professional/Consulting
100,652
41,749
40,101
142,401
248,524
444,450
469,110
Other Expenses
198,597
197,752
204,097
396,349
295,201
684,053
294,946
Total Non-interest expense
1,879,989
1,708,853
1,739,465
3,588,842
3,468,716
6,929,482
4,869,525
Income (Loss) before taxes
(259,931
)
(241,885
)
(988,560
)
(501,816
)
(2,593,380
)
(4,522,226
)
(4,358,735
)
Income tax expense
800
-
-
800
1,600
1,600
800
Net Income (Loss)
$
(260,731
)
$
(241,885
)
$
(988,560
)
$
(502,616
)
$
(2,594,980
)
$
(4,523,826
)
$
(4,359,535
)
Earnings per share ("EPS"): Basic
$
(0.10
)
$
(0.09
)
$
(0.39
)
$
(0.20
)
$
(1.02
)
$
(1.76
)
$
(1.71
)
Common Shares Outstanding
2,565,864
2,565,864
2,565,864
$
2,565,864
2,556,112
2,565,864
2,556,112
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