The Bank of Santa Clarita on Thursday announced a proposed three-for-two stock split of its common stock.

The California Department of Business Oversight needs to approve the proposed split due to an amendment to the bank’s articles of incorporation, the company said.

A record date and payment date for the stock split will be set once the bank receives regulatory approval.

Founded in October 2004, the Bank of Santa Clarita is the only full-service commercial bank headquartered in the Santa Clarita Valley.

Shares of Bank of Santa Clarita (BSCA) closed Thursday up 52 cents, or 2.6 percent, to $20.25 on the over-the-counter market.