Beach Cities Commercial Bank Announces Leadership Changes
Bank Board of Directors Chairman Frank Ford and Bank Board of Directors Vice Chair Angela Bienert assumed oversight of the Bank through the Executive Oversight Committee, taking over the daily responsibilities previously held by Mr. Redeker and Mr. Falk. Effective June 18, 2025, the Executive Oversight Committee is composed of Mrs. Bienert and Bank Board Director Jim Riskas. They will continue to oversee the Bank pending hiring of a new President and Chief Executive Officer.
Mrs. Bienert, Vice Chair of the Board of Directors, remarked, "Mr. Redeker and Mr. Falk have been instrumental in the Bank's vision and journey, having served for nearly two years as its founding members. They played key roles in launching the Bank. We extend our best wishes to both as they embark on their future endeavors.'
Mrs. Bienert further stated that 'Our highly skilled workforce and experienced management team are confident that Beach Cities Commercial Bank will continue to deliver on its reputation for meeting and exceeding our customers' high standards for satisfying their loan, deposit, banking services and other financial needs. This team has delivered growth while continuing to invest in people, product development, and production capabilities, and the Bank is well positioned to further deliver value to its stakeholders. We are committed to providing our team with the resources they need to continue excelling and while we conduct a search for our next President and Chief Executive Officer."
Corporate Overview
Headquartered in Irvine, California, Beach Cities Commercial Bank is a community-based financial institution that provides a range of commercial banking products and services to the communities it serves. As of March 31, 2025, the Bank had total assets of $153.8 million. The Bank is a full-service commercial bank that provides business banking services in Los Angeles, Orange, San Diego and Riverside Counties. Bank services include: account analysis, commercial checking accounts, money market accounts, savings accounts, IOLTA, Online Banking, mobile banking, E-banking, treasury management, Zelle, business lines of credit, business term loans, equipment financing, commercial real estate financing, bridge financing, SBA loans/lines, California state loan guarantee loans, construction loans and other deposit and loan products. The Bank's headquarters office is 100 Progress, Suite 150, Irvine, California 92618, and it has a branch in Encinitas, California. The Bank's website address is www.beachcitiescb.com.
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.
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