Business Context and Reporting Period
Southern California Bancorp (Nasdaq: BCAL) filed this Form 8-K on July 26, 2023, reporting the results of its 2023 Annual Meeting of Shareholders held that day. The filing is a corporate-governance update and does not report quarterly or annual financial results.
The request identifies California Bancorp; the filing itself identifies the registrant as Southern California Bancorp.
Meeting Results
Election of Directors
All ten nominees were elected for one-year terms based on receiving the highest number of votes. Broker non-votes totaled 1,509,628 for each nominee.
| Director | For | Withheld |
|---|---|---|
| Frank D. Di Tomaso | 14,361,457 | 4,774 |
| John Farkash | 14,364,894 | 1,337 |
| Irwin Golds | 14,363,269 | 2,962 |
| Lester Machado | 14,312,478 | 53,753 |
| Richard Martin | 14,363,269 | 2,962 |
| David I. Rainer | 14,363,269 | 2,962 |
| Kaveh Varjavand | 14,363,268 | 2,963 |
| David Volk | 14,363,269 | 2,962 |
| Anne Williams | 14,300,807 | 65,424 |
| Anita Wolman | 14,328,756 | 37,475 |
Independent Auditor Ratification
Shareholders ratified the selection of Eide Bailly LLP as the independent registered public accounting firm for the year ending December 31, 2023.
| Vote | Shares |
|---|---|
| For | 15,875,842 |
| Against | 16 |
| Abstain | 1 |
| Broker non-votes | 0 |
Financial Metrics and Material Changes
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, capital ratios, guidance, or other operating and financial metrics. It does not describe material changes versus a prior comparable period.
Outlook, Risks, and Unusual Items
The filing contains no management outlook, financial guidance, risk disclosures, contingencies, or unusual financial items. The principal disclosed matters are the annual director elections and auditor ratification.
Important Facts to Verify
- Confirm the registrant identity, because the filing names Southern California Bancorp rather than California Bancorp.
- Verify that all ten listed director nominees were elected to one-year terms.
- Verify the shareholder approval of Eide Bailly LLP for the year ending December 31, 2023.
- Review subsequent filings for financial performance, liquidity, capital, and any changes in board composition or auditor.