West Coast Community Bancorp Reports Significant Earnings Growth and Dividend Increase in 2025

West Coast Community Bancorp, the parent company of West Coast Community Bank, has reported strong earnings results for the second quarter of 2025. The company's net income reached $12.9 million, an increase of $1.2 million, or 11%, compared to the previous quarter and up by a remarkable 57% from $8.2 million in Q2 2024. This growth reflects the successful integration of the earlier merger with 1st Capital Bancorp and demonstrates sustained momentum within the core banking operations.

In line with this positive performance, the Bancorp Board of Directors has declared a quarterly cash dividend of $0.21 per share, representing a $0.01 increase from the last quarter. Shareholders of record as of August 5, 2025, will receive this dividend on August 11, 2025. This increase signifies the company’s commitment to returning value to its shareholders while promoting long-term growth.

"Our financial performance has been robust this quarter, and we are pleased to achieve an earnings per share (EPS) accretion target of 16% in 2025 following the merger," stated Krista Snelling, President and CEO. "This achievement highlights our continued momentum across the banking franchise while maintaining exceptional client service and enhancing our community impact."

Bancorp reported basic and diluted EPS of $1.23 and $1.22, respectively, both reflecting an 11% increase from the prior quarter. These numbers further illustrate a 26% increase from the corresponding period last year. Year-to-date earnings for the first half of the year totaled $24.6 million, marking a 40% increase from $17.5 million in the first half of 2024.

The overall financial strength is evident with the company’s net interest margin standing at 5.30%, up from 4.99% a year earlier. The primary liquidity ratio, which constitutes cash and equivalents, deposits in other banks, and unpledged available-for-sale securities as a percentage of total assets, remained stable at around 11.7%. This comprehensive liquidity position reinforces Bancorp's capability to sustain its operations in uncertain market conditions.

Moreover, Bancorp's asset base has expanded significantly, with total assets reaching $2.7 billion as of June 30, 2025, a notable increase of 55% since June 30, 2024. This growth can be attributed largely to the successful merger with 1st Capital Bancorp, which added substantial assets to the balance sheet.

Stephen Pahl, Chairman of the Board of Directors, remarked, "The tangible book value per share reached $27.51 at June 30, surpassing our previous figure prior to the merger. Our commitment to nurturing long-term shareholder value is evident through our impressive tangible book value growth and our healthy liquidity."

The quarter's strong performance was supported by a strategic focus on organic growth combined with the benefits realized from the merger. Net interest income climbed to $32.8 million for the quarter, fueled by consistent growth in loan origination and an effective management of costs.

As for asset quality, gross loans increased by 52% year-over-year, indicating robust loan demand and a diversified lending portfolio. The asset-based lending division also generated significant new commitments, underscoring an effective strategy for expanding services and offerings to a wider range of clients.

The merger finalized in October 2024 has positioned West Coast Community Bancorp favorably in the marketplace. With a clear trajectory towards growth and financial stability, the bank is focused on solidifying its presence as a leading community banking entity.

Bancorp’s robust performance in the recent quarter is indicative of its strategic planning, operational efficiencies, and commitment to delivering exceptional banking services. As the company continues to navigate post-merger activities, it remains committed to increasing shareholder value and fostering community development.

In conclusion, West Coast Community Bancorp's reported earnings growth and dividend increase are strong indicators of its resilience and ability to thrive amid economic challenges. The progress made in Q2 2025 positions the bank well for future success as it continues to serve its clients and communities effectively.