DOWNEY, Calif. -- The newly installed board of SC Bancorp, parent of Southern California Bank, elected H.A. Beisswenger, a former president of the bank, to be chairman for the rest of the year.
Le Grande Coates Jr., chairman of Master Body Works Inc., will be vice chairman; and William C. Greenbeck, partner in Downey Land Co. was elected corporate secretary.
The bank also announced that it expects to report a sizable loss for the second quarter, due to a $4.5 million loan-loss provision, for which the recession is to blame, said Larry D. Hartwig, president. The company's reserve will rise to $7 million, equaling almost 100% of non-performing loans.