Santa Cruz County Bank In The News
S.C. County Bank issues first quarterly report
April 20, 2004
The following is an article from the Santa Cruz Sentinel
Sentinel staff report
SANTA CRUZ – Two months after opening its doors for the first time, Santa Cruz County Bank celebrated $7.8 million in deposits and $3.4 million in loans.
The bank announced results Monday for its partial first quarter period, which ended March 31.
Thirty percent of the new deposits were in noninterest bearing transaction accounts. More than 70 percent of total loans were commercial loans to local businesses. Total assets at the end of March were $20 million, up from $13.78 million at the start of business in February.
The bank opened Feb. 3, five days after a public stock offering of 1.32 million shares of common stock were sold for $10 each. The stock trades on the Over the Counter Bulletin Board (OTC:BB) under the ticker SCZC. On April 12, the most recent share price available, the stock traded at $10.50.
The bank has an office at 325 Soquel Ave. in Santa Cruz and plans to open a second full service office in Watsonville.
A shareholders meeting will be held May 20 at 2 p.m. at the UCSC Inn & Conference Center.