Santa Cruz County Bank In The News
SANTA CRUZ -- Santa Cruz County Bank posted a profit of $1.35 million for the quarter ending June 30, up 32 percent from the prior quarter and up 8 percent from a year ago.
The 11-year-old locally owned bank topped $500 million in assets, up 5 percent for the quarter and up 14 percent from a year ago. “Reaching a half-billion dollars in asset size marks the achievement of a long-term strategic vision for our company,” said David Heald, president and chief executive officer, who’s been with the bank since it opened.Read the full story at www.santacruzsentinel.com
APTOS - Santa Cruz County Bank shareholders celebrated a record profit last year and a 15 percent jump in shareholder value in the first quarter of this year at the company’s annual shareholder meeting Thursday.
As of just two months ago, shareholder value climbed 23.9 percent in the previous 12 months.
“This year was fantastic,” said David Heald, president and CEO of the company. “Everything we’ve been working hard on has been coming together and paying off. The years of planning and executing the plan is showing up in our numbers.”
Bank executives pointed at an overall improving economy that is reflected in increasing number of business loans, including construction, real estate and Small Business Administration backed loans. Heald was particularly happy to report that the loan/deposit ratio had climbed to more than 80 percent.Read the full story at www.santacruzsentinel.com
SANTA CRUZ -- Santa Cruz County Bank posted a profit of $1.25 million for the quarter ending March 31, down 2 percent from the prior quarter but up 44 percent from a year ago.
Gross loans totaled $239 million, up $13.6 million from the prior quarter, a 4 percent increase, and up 18 percent from a year ago.
The 11-year-old locally owned bank made $36.5 million in loan commitments, with $9.2 million in payoffs and refinancings and sold $4.4 million in loans to the secondary market. Of the total committed, $11.4 million has yet to be drawn by the borrowers.Read the full story at www.santacruzsentinel.com
SANTA CRUZ - Santa Cruz County Bank posted a record $4.4 million profit for the year ending Dec. 31, up 32 percent from a year ago, with quarterly earnings of $1.3 million, up 6 percent from the prior quarter.
Gross loans at the 11-year-old bank totaled $315.6 million, up 6 percent from last quarter and up $57.5 million from a year ago, a 22 percent increase, despite $36.6 million in payoffs.
In 2014, the bank made 248 new loans up from 217 the year before.
“People are feeling more comfortable in making investments,” said David Heald, Santa Cruz County Bank’s president and CEO.
SANTA CRUZ - Santa Cruz County Bank posted a record $1.2 million profit for the quarter ending Sept. 30, up 26 percent from the prior quarter and up 45 percent from a year ago.
CAPITOLA - Sheryl Guidera, for 25 years the owner of Kaleidoscope, the parent teacher toy store, is looking for a buyer so she can retire.
SANTA CRUZ -- Santa Cruz County Bank posted a profit of $1 million for the quarter ending June 30, up 18 percent from the prior quarter and up 24 percent from a year ago.
Loans at the 10-year-old locally owned bank totaled $293 million, growing 5 percent — $14.9 million — from the prior quarter and up 23 percent from a year ago.
David Heald, bank president and chief executive officer, said loan production for the quarter totaled $25.5 million and loan payoffs of $9 million.
There were seven commercial real estate loans for $8.6 million, 17 commercial loans for $4.6 million and four construction loans for $2 million, Heald said.
Read the full story at www.santacruzsentinel.com
SEASCAPE — Ten-year-old Santa Cruz County Bank celebrated a record year in loans, re-elected current board members and declared the recession over at an annual shareholder's meeting Thursday at Seascape Resort.
It's been "a pretty phenomenal year," said Angelo DeBernardo Jr., a senior vice president and senior lending officer at the bank.
The bank booked $116 million in new loans, $15 million more than in 2012, and, according to federal data, gained local market share as of June 2013.
In general, the economic picture for the region is one of growth, said David Heald, CEO and president of the bank.
"I'd say over the last couple of years we have seen good growth and I would say that yes we have basically come out of (the recession)," Heald said. "We are now growing. A lot of the economic indicators do show that as well." The Bay Area is booming and driving real estate prices "pretty hard" within the Bay area.Read the full story at www.santacruzsentinel.com
Santa Cruz County Bank has declared a cash dividend of five cents per share, payable on July 10 to stockholders of record as of June 25. This is the fifth cash dividend declared by the 10-year-old locally owned bank.
Shareholders' equity grew to $34.9 million as of March 31, up 14 percent over the prior year.
Book value per share was $16.35 compared to $15.55 a year ago. Earnings were 41 cents per share, the same as a year ago.Read the full story at www.santacruzsentinel.com