Western Commercial Bank Enters Into Consent Order With FDIC and DFI

WOODLAND HILLS, CA--(Marketwire - 10/22/09) - WCB Holdings, Inc. (OTC.BB:WCBH - News), located at 21550 Oxnard Street, Suite 100, Woodland Hills, California, announced that Western Commercial Bank, its wholly owned subsidiary, has entered into a Consent Order to Cease and Desist with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions effective September 18, 2009. The Order, which provides the Bank with a roadmap to address the impact of the challenges presented by these economic times, includes many plans and actions that the Bank has already adopted and begun to implement. The Order also requires the Bank to:1. Increase the capital by no less than $1 million and achieve a 9.5% Tier 1 Capital ratio within 90 days.2. Reduce its dependence on non-core deposits (wholesale and broker deposits -- broker deposits in today's market could be low-cost certificate of deposits arranged by a third party with terms for six months up to several years) based on a plan to be filed with and deemed acceptable to the regulators.3. Reduce its classified assets as identified in the most recent Report of Examination to no more than 50% of the Tier 1 Capital plus the Allowance for Loan and Lease Losses within 120 days.4. Implement plans to diversify the Bank's loan portfolio, reduce the commercial real estate loan concentration, manage and mitigate the Bank's liquidity risk and diversify its funding sources within 60 days.5. De...
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WCB Holdings, Inc. and Western Commercial Bank Announce 2nd Quarter Results for 2009

WOODLAND HILLS, CA--(Marketwire - 09/25/09) - WCB Holdings, Inc. (OTC.BB:WCBH - News), located at 21550 Oxnard Street, Suite 100, Woodland Hills, California, announced its second quarter of 2009 financial results. For the three- and six-month period ended June 30, 2009, the Company showed net losses of $315,000 and $326,000, respectively. The Company's total assets grew 1% from $121.4 million at June 30, 2008 to $122.3 million at June 30, 2009. For the same period, total loans grew 12% from $93.1 million to $103.9 million and total deposits maintained at the same level of $106.4 million. The Company also recognized $21,000 in warrants expense for the six-month period ended June 30, 2009. Western Commercial Bank, a wholly owned subsidiary of WCB Holdings, Inc., recognized $50,000 and $101,000 in non-cash stock option compensation expenses, and provided $35,000 and $285,000 in loan loss provision for the three- and six-month period ended June 30, 2009.At June 30, 2009, the Bank's allowance for loan losses was $1,631,000 or 1.57% of total loans (or 1.73% net of cash secured and government guaranteed loans), which Management considers prudent in this economy.At June 30, 2009, the Bank's Tier 1 leverage ratio was 8.0% and its total risk-based-capital ratio was 10.2%, both considered in the well-capitalized category. The Bank has two non-performing assets for $8.6 million, both of which are very well-secured and mitigated by a $5.3 million guarantee by the USDA.Carl W. Raggio, III, President and CEO, said, "The e...
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Western Commercial Bank Announces New Employee -- Robert W. Kagy -- Senior Vice President

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WCB Holdings, Inc. and Western Commercial Bank Announce 1st Quarter Results for 2009

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WCB Holdings, Inc. and Western Commercial Bank Announce 4th Quarter Results for 2008

WOODLAND HILLS, CA--(MARKET WIRE)--Apr 3, 2009 -- WCB Holdings, Inc. (OTC BB:WCBH.OB - News), located at 21550 Oxnard Street, Suite 100, Woodland Hills, California, announced its fourth quarter of 2008 financial results. Through December 31, 2008, the Company and the Bank have continued to experience healthy growth in total assets, loans and deposits. The Company's total assets grew 33% from $91.4 million at December 31, 2007 to $121.5 million at December 31, 2008. For the same period, total loans grew 36% from $76.3 million to $103.6 million and total deposits increased 34% from $78.5 million to $105.0 million. For the quarter and year ended December 31, 2008, the holding company recorded net losses of $468,000 and $993,000, respectively, as compared to last year's net income of $51,000 and net loss of $619,000 for the same reporting periods. The Company also recognized $32,000 in warrants expense for the year ended December 31, 2008. Western Commercial Bank, a wholly-owned subsidiary of WCB Holdings, Inc. recognized $51,000 and $500,000 in non-cash stock option compensation expenses, and provided $732,000 and $1,452,000 in loan loss provision for the quarter and year ended December 31, 2008.At December 31, 2008, the Bank's allowance for loan losses was $1,655,000, increasing the loss reserve as a percentage of total loans to 1.60% (or 1.76% net of cash secured and government guaranteed loans), which Management considers prudent in this economy.At December 31, 2008, the Bank's Tier 1 leverage ratio was 8.0% and its tota...
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