San Diego-based Bank of Southern California recorded a 47 percent year-over-year growth in assets to $769 million at the end of Q1 2019. The bank announced quarterly results on May 7. Its Q1 2019 net income reached $1.85 million marking a 72 percent increase in income from Q1 2018.
Net interest income for the quarter increased on a year-over-year basis from $4.85 million to $7.70 million. Bank of Southern California (OTC: BCAL) reported non-interest income decreased to $420,000.
Total loans for the bank reached $629 million while total deposits reached $636 million at the end of the quarter.
Bank of Southern California acquired Americas United Bank on July 31, 2018.