SAN DIEGO--(BUSINESS WIRE)--Southern California Bancorp (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A. is pleased to announce that David I. Rainer has been named Executive Chairman of the Board of Directors of the Company, and of the Bank, as of November 5, 2020.
“Dave brings 40 years of banking experience to our Board and is a proven leader in growing relationship-based community banks focused on serving small and mid-sized businesses,” said Nathan Rogge, President and Chief Executive Officer of Bank of Southern California. “His appointment as Executive Chairman is a further step in our strategy to expand our operations in the Los Angeles, Orange and Ventura County markets.”
“I am very pleased to join Nathan and his team to continue the expansion of the high-quality Bank of Southern California franchise,” said David I. Rainer, Executive Chairman of Southern California Bancorp. “The Southern California markets offer what we believe to be an outstanding opportunity to grow the Bank’s presence by addressing the underserved banking market for small and mid-sized businesses that are looking for a more personalized experience. Nathan and his team have built a solid foundation for the franchise and I am very excited to join them.”
After nearly 20 years as Chairman, John Farkash will assume the role of Chairman Emeritus and Director of Southern California Bancorp. “It has been a great honor to have served as Chairman,” said Mr. Farkash. “I am incredibly proud of our accomplishments over the past two decades, most notably expanding our footprint into all major Southern California markets fulfilling the vision of the Company’s original founder and Chairman, Ernest Auerbach. We have built a strong performing and profitable organization with a platform that serves thousands of Southern California businesses. We welcome Dave to our leadership team and I am confident that he will play an integral role in the Bank’s continued growth,” concluded Mr. Farkash.
Mr. Rainer served as a founder, Chairman and CEO of CU Bancorp (Nasdaq: CUNB) and its wholly owned subsidiary California United Bank (CUB) from 2005 through its sale in 2017. Prior to that, he served as EVP of Commercial Banking for the Western US at US Bank (NYSE: USB). Previously, he was the President and Chief Executive Officer of California United Bank (not related to CUB), through its sale in 1999.
Mr. Rainer served two three-year terms on the Board of Directors of the Federal Reserve Bank of San Francisco, Los Angeles Branch. He is a member of the Price Board of Councilors at the USC Price School of Public Policy and a former Director of InBank, a Denver-based community bank. Previously, he served on the Board of Directors of the Boys and Girls Club of the West Valley, Inner City Arts and Junior Achievement and the LA Urban League. Mr. Rainer holds an MBA from the University of Southern California.
Southern California Bancorp has engaged MJC Partners, LLC for financial advisory services.
ABOUT BANK OF SOUTHERN CALIFORNIA
A 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. For more information, please visit https://www.banksocal.com
