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Profitable quarter for County Bank

July 28, 2006

The following is an article from the Santa Cruz Sentinel, to visit the Santa Cruz Sentinel web site, click here.

Profitable quarter for County Bank Deposits grew to $99.4 million, up 11 percent during the second quarter, at Santa Cruz County Bank, officials reported Wednesday. The two-year-old bank, which is locally owned, recorded its fourth consecutive profitable quarter. Net income totaled $391,304, nearly double the net income from the previous quarter. A year ago, the startup bank was still in the red. Compared to the previous quarter, loans grew 3 percent to $81.3 million and assets by 10 percent to $116.3 million. "We're pleased with our progress in the second quarter, particularly in growth of deposits," said bank president and CEO David Heald. For more information, go to www.scccountybank.com.Santa Cruz

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