Southern California Bancorp Announces Changes to its Board of Directors

Southern California Bancorp (the “Company”) (OTC Pink: BCAL), the holding company for Bank of Southern California, N.A. (the “Bank”), announces the appointment of four new independent directors to the Board of Directors of the Company and the Bank, effective as of November 18, 2020, bringing board membership to 10, including eight independent directors. The new directors are David Holman, Jan Lynn Owen, Kaveh Varjavand and Anita Wolman. Directors Adriana Boeka and Joseph Matranga have retired from the board.

“We are pleased to welcome Dave, Jan, Kaveh and Anita to the Board of Directors of Southern California Bancorp,” said David Rainer, Executive Chairman of Southern California Bancorp. “They are a talented and proven group of experienced banking and financial executives, and they bring a diverse set of expertise to our Board. We are excited to have them join us.”

“Dave, Jan, Kaveh and Anita bring experience and leadership to our board that will help guide and support our strategy to expand our operations in the Los Angeles, Orange and Ventura County markets, and we look forward to their contributions,” said Nathan Rogge, President and CEO of the Company and the Bank. “On behalf of the Board, I would like to thank Adriana and Joseph for their long service to Southern California Bancorp and the Bank and for their much-valued contributions. We wish them all the best going forward.”

The newly appointed directors bring extensive banking and board experience to the Company and the Bank:

• David Holman has 40 years of commercial banking experience, serving as the Chairman of the Board of Directors of 1^st Enterprise Bank from its incorporation in 2006 to its merger with California United Bank in 2014, at which time he became a director of its parent company, CU Bancorp, serving as Lead Director from 2015 to 2017. Prior to that, he was a senior executive at the Southern California Banking Group of First Interstate Bank for 25 years.
• Jan Lynn Owen is a senior advisor in the Manatt Financial Services group, where her practice includes accountancy, assets recovery, auditing, banking, and financial reporting. Before joining Manatt, from 2013 to 2019, she was the Commissioner of California’s Department of Business Oversight, the state’s financial regulator. Prior to that, she served as commissioner of the California Department of Corporations.
• Kaveh Varjavand is the president of AARCS—Accounting, Audit and Reporting Consulting Services—a firm he founded in 2013 that provides consulting services to community banks. From 2006 to 2013, he was the partner-in-charge of the Southern California Financial Services Group at Moss Adams LLP and prior to that he served as an audit partner with KPMG LLP. He also served as a director of CU Bancorp from 2015 to 2017.
• Anita Wolman served as EVP and General Counsel at CU Bancorp from 2009 to 2017 and was a founder of its wholly owned subsidiary, California United Bank, in 2005. Prior to that, she held General Counsel positions at California Commerce Bank and Pacific Century Bank.

Chairman Emeritus John Farkash, Irwin Golds, Lester Machado and David Volk will continue serving as Directors of the Company and the Bank.