See What's New at Santa Cruz County Bank
My Business Mobile App
Business doesn’t stop just because you’re away from the office, and some of those important financial decisions simply won’t wait until you get back. Whether it's approving a transfer, making a bill payment or depositing a check, My Business Mobile allows you to manage your business finances on–the–go from almost anywhere your business takes you.
With our new My Business Mobile app, businesses can enjoy mobile access to:
- View account balances
- Review recent transactions
- View check images
- Transfer funds (ACH, Wire, Loans)
- Originate Bill Payments
- Review and Approve: Wire & ACH Transfers, Positive Pay exceptions, Pending Approval Alerts
- Deposit checks
- Multifactor authentication for secure login
- And much more!
Bank Hires Michelle Navarro
Michelle Navarro has joined the Bank as Assistant Vice President and Business Banking Officer.
Ms. Navarro has over 10 years of experience in banking, extending from operations to sales and branch management. Most recently, Ms. Navarro was Branch Manager for JP Morgan Chase, where she obtained certification as a mentor to coach branch managers and served as Chairperson of volunteer events for the bank’s Silicon Valley – Santa Cruz Markets.
A native of Santa Cruz County, Ms. Navarro obtained an Associate of Arts degree from Cabrillo College and is a graduate of Watsonville High School.
As Business Banking Officer for Santa Cruz County Bank, Ms. Navarro will be responsible for client relationship development in the greater Santa Cruz area, with an office based in Watsonville. Ms. Navarro currently resides in Watsonville with her husband and four children.
Bank Announces Record Earnings for 2018
We are pleased to announce record earnings for the fourth quarter and year ended December 31, 2018. Net income was $3.2 million for the fourth quarter and $11.4 million for the year ended December 31, 2018, an increase of $4.6 million or 68% over the prior year. This represents the best year in the Bank’s history.
2018 Financial Highlights:
- Assets of $662 million
- Total deposits of $584 million
- Net income of $11.4 million for the year
- Net interest margin of 4.66%
- Return on average assets of 1.75%
- Return on average equity of 18.05%
- Efficiency ratio of 49.04% for the year
- Well capitalized with a total risk based capital ratio of 13.81%
- Continued exceptional credit quality with no loans on non-accrual or past due
- Book value per share after cash and stock dividends increased by $4.34 or 18%, to $27.98 at year end
President and CEO David V. Heald commented, “The Board of Directors and the entire Santa Cruz County Bank team are very pleased to provide our shareholders with continued strong returns through another record year of performance. Our strategy for managing our balance sheet during a rising interest rate environment has resulted in improved net interest margin and pretax income. We are extremely satisfied with our performance over the past 15 years and look forward to carrying out our strategic initiatives in the years ahead.”
To view the entire fourth quarter and year end 2018 press release and for more information on Santa Cruz County Bank's performace, please visit our Investor Relations page.
Santa Cruz County Bank is a 5-Star “Superior” Rated Bank
Santa Cruz County Bank is rated a 5-Star “Superior” bank by Bauer Financial, Inc. based upon its financial performance for the quarter ending September 30, 2018. 5-Star is the highest rating determined by Bauer Financial. Bauer Financial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. For more information on Bauer Financial, Inc. visit www.bauerfinancial.com. Santa Cruz County Bank has ranked as a 4-Star “Excellent” and 5-Star “Superior” bank every quarter in the history of our ratings from Bauer Financial.
2018 Business of the Year Award
The Bank is honored to receive the 2018 Business of the Year Award from the Santa Cruz Chamber of Commerce. We congratulate all the Businesses and Awardees who were chosen for their significant achievements and community leadership. Together, these individuals and businesses make Santa Cruz County a better place to live, work and play.
#1 Bank in California
Santa Cruz County Bank is pleased to announce its rank as the top bank in California for its first quarter 2018 financial performance by Financial Management Consulting Group (FMC). In addition, the Bank ranks #1 in asset quality and #1 (lowest) in non-performing assets for the first quarter 2018. The Bank has been ranked in FMC's Top 10 California Banks for three consecutive years. FMC ranks all 159 California banks on a quarterly and annual basis based on a variety of factors including: net interest margin, efficiency, asset quality and earnings.
Bank Hires Brent Dunton
Brent Dunton has joined the Bank as Vice President and Business Banking Officer.
Mr. Dunton has a 14 year career in finance and banking, extending from mortgage lending to business development to treasury and wealth management. Most recently, Mr. Dunton was Vice President, Treasury Management Officer for Comerica Bank. Prior to his career at Comerica, Mr. Dunton was a loan officer for Santa Cruz Home Finance and Sales Manager at the Santa Cruz Seaside Company.
Mr. Dunton obtained a Master of Arts in Education as well as a Bachelor of Science degree in Communications with a Minor in Business Administration from California State University of Chico. Mr. Dunton has been an active community volunteer who has served on the boards of the American Red Cross, Kennolyn Camp Foundation, and is a past President of the Aptos Chamber of Commerce and the Soquel Parent Education Nursery School. He is a past member of Santa Cruz Sunrise Rotary and served on the United Way of Santa Cruz Allocations panel for numerous years.
President and CEO, David Heald commented, “Brent brings a well-rounded background and community minded approach to banking which is a direct fit with the culture of Santa Cruz County Bank. We welcome Brent and look forward to his contributions to the Bank and our community in the years ahead.”
Mr. Dunton will be responsible for client relationship development in the greater Santa Cruz area.
A Santa Cruz native, Mr. Dunton currently resides in Santa Cruz with his wife and three children.
Creedence Shaw Named Chief Credit Officer
Creedence Shaw has been appointed as Senior Vice President and Chief Credit Officer. Mr. Shaw’s appointment coincides with the recent retirement of George Harrison, who served as the Chief Credit Officer for the Bank since June 2015.
Mr. Shaw is one of the Bank’s founding employees. He has 18 years of bank lending experience with an education and professional background in finance, lending, credit administration, loan structuring and credit review. Most recently, Mr. Shaw was Senior Vice President of Credit Administration for the Bank, responsible for loan policy, system integrity, government reporting, audits and reviews, as well as the management of loan concentrations and special assets.
Mr. Shaw obtained a Bachelor of Science degree in Applied Economics from the University of San Francisco. He is based out of the Bank’s Administrative headquarters in Santa Cruz. Mr. Shaw is an active community volunteer who serves on the Audit Committee for Ecology Action for the past three years and currently serves as Board Treasurer for Mountain Bikers of Santa Cruz. He is a member of Santa Cruz Sunrise Rotary, a member of the Santa Cruz County Search and Rescue Team and serves as a Mentor for Santa Cruz Works’ Santa Cruz Accelerates.
David Heald, President and CEO commented, “It is a great pleasure to announce the promotion of Creedence Shaw to the position of Chief Credit Officer. We have worked together for most of his career. Creedence’s experience managing credit portfolios and understanding of credit risk are essential to his position. He brings a well-rounded background to the position through his experience managing credit portfolios and his understanding of credit risk and loan reviews. Creedence has been an asset to the Bank since our inception.”
Top 200 Best Performing Banks
We are thrilled to announce for a fifth consecutive year, Santa Cruz County Bank is ranked in American Banker Magazine’s Top 200 Best Performing Community Banks and Thrifts in the United States. Our Bank ranked 22nd out of 633 institutions with less than $2 billion in assets that were included in the nationwide ranking. The ranking, based upon 3-year average return on equity from 2015-2017, also places Santa Cruz County Bank 4th in California out of a total of 26 California banks that made the Top 200 list.
Super Premier Performing Bank Designation
The Findley Reports, Inc. recently designated Santa Cruz County Bank as a Super Premier Performing Bank for an 8th consecutive year based on 2017 financial performance. For a bank to achieve the Super Premier performance rating it must meet four key performance ratios established by Findley Reports, Inc.. Super Premier is the highest rating level established by Findley Reports, Inc. Santa Cruz County Bank met the four criteria at a high level of performance: growth, return on beginning equity, net operating income as a percentage of average assets and loan losses as a percentage of gross loans. The Findley Reports, Inc. has been recognizing the financial performance of banking institutions in California and the Western United States for over fifty years. Findley Reports named Santa Cruz County Bank as one of 11 “exceptional banks” in California in 2012.
Bank in Top 100 Community Banks Ranking
We are pleased to report Santa Cruz County Bank is ranked 63rd in the country out of at least 3,000 banks under $1 billion in assets, based upon 2017 performance. This is the second consecutive year Santa Cruz County Bank has ranked in the Top 100 Community Banks, by S&P Global.
Santa Cruz County Bank Voted “Best Bank”!
For a sixth consecutive year, Santa Cruz County Bank has been voted “Best Bank” in the Good Times "Best Of Santa Cruz County" annual poll. Thank you to all Good Times readers and customers who cast their vote for us!
Bank receives Al Smith Friend of Agriculture award
Santa Cruz County Bank was recently recognized with the 2018 Al Smith Friend of Agriculture award at the National Agriculture Day Luncheon, presented by the Santa Cruz County Farm Bureau and Agri-Culture. This award is presented annually to an individual, business, or organization that is not directly involved in the production of agriculture, yet supports the industry in other ways. The Bank has played a role in supporting this important business sector in our community through lending, donations to support agricultural education and volunteerism.
Santa Cruz County Bank wins 2017 Reader’s Choice Award
For the fourth consecutive year, Santa Cruz County Bank has been voted “Best Bank” in the Santa Cruz Sentinel “Reader’s Choice Award” annual poll. Thank you to all the Sentinel readers and customers who cast their vote for us!
Learn more about Mobile Payments
Paying in stores, within apps, and on websites has never been easier, safer, or more private with your Santa Cruz County Bank debit card(s). You already use your phone for just about everything. Now you can pay with it, too because your Santa Cruz County Bank debit card(s) are now compatible with Apple Pay, Android Pay and Samsung Pay. Use your Santa Cruz County Bank debit card that's stored in your mobile wallet for payment at millions of stores around the world, wherever contactless payments are accepted.
Ready to Start? Here's how: Simply load your Santa Cruz County Bank card in your Mobile Wallet on your smartphone or smartwatch for easy and secure purchases!
For more information, view Mobile Wallet FAQ
Our new mobile app lets you control your card usage and spending on the go! CardValet gives you real-time notifications whenever your card is used. If you lose or misplace your card, simply lock your card to disable it and unlock to enable, all with a few taps on your smartphone. CardValet allows you to control spending and safeguard against fraud. All this protection within one simple app - your card, on your terms. For more information on CardValet and how to download the app, click here.
Santa Cruz County Bank Named Industry Top Performer in National Community Bank Rankings
ICBA Independent Banker, published by the Independent Community Bankers of America (ICBA) has recognized the Bank as an ICBA industry top performer in its May issue. Santa Cruz County Bank’s recognition is based on the strength of its competitive banking services and operational efficiencies throughout 2015, which resulted in its rank of 22nd for return on average equity of 13.15%.
“Santa Cruz County Bank is delighted to be recognized as an ICBA top performer,” said David V. Heald, president and CEO. “As a proud member of the Santa Cruz County community, we credit our loyal, local customers and dedicated employees for our success. We look forward to serving the unique needs of our community and helping it grow and prosper in the years to come.”
“Whether serving rural, suburban or large metropolitan areas, community banks operate with a focus on their customers and communities,” said Chris Lorence, ICBA’s executive vice president and chief marketing officer. “Santa Cruz County Bank knows their local market and thrives because they stay true to the principles of community banking while showcasing drive, ingenuity and community commitment. Santa Cruz County Bank demonstrates integrity, enthusiasm and inventiveness in the financial industry, and for that reason ICBA is proud to recognize this community bank and its employees for their outstanding efforts.”
This year’s ICBA top-performers rankings underscore the importance of focusing on serving customers and communities, first and foremost. Delivering superior service, following disciplined pricing models, and supporting their local communities and neighborhoods are trends among those community banks recognized within the rankings. These community banks featured stick to well-known industry fundamentals, while embracing the changing industry landscape.
As part of its annual performance rankings of its member institutions, ICBA pulled year-end FDIC call report earnings data to identify the 25 community banks with the highest return on average assets (ROAA) and return on average equity (ROAE) ratios for all of 2015. Both Subchapter C corporation and Subchapter S corporation institutions in six asset-size categories were recognized.
To see this year’s ICBA top-performers listings, read the article “The Best of the Best” on ICBA Independent Banker’s website at www.independentbanker.org.