Bank of Santa Clarita announces stock split

Bank of Santa Clarita CEO and Executive Chairman Frank Di Tomaso stands in the bank's Magic Mountain Parkway branch on Jan. 13. KATHARINE LOTZE/SIgnal. 01132016

The California Department of Business Oversight recently approved a proposal of a three-for-two stock split for the Bank of Santa Clarita.

The proposal for an amendment to the bank’s articles of incorporation to split the bank’s common stock was set to occur on Dec. 20.

Each shareholder is expected to be issued one additional share of the bank’s common stock for every two shares held at the close of business on Dec. 20, which are anticipated to be paid out by approximately Dec. 30, according to a release issued by the bank.

The Bank of Santa Clarita is the only full-service commercial bank headquartered in the Santa Clarita Valley.

Since the announcement, shares of the bank’s stock (BSCA) on the over-the-counter market have increased marginally from $19.81 on Dec. 10 to $20 on Dec. 20.

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