Santa Cruz County Bank In The News

Santa Cruz County Bank and Bank of America made the most Small Business Association loans in the county during fiscal 2007.

When David Heald, president of Santa Cruz County Bank, was asked about putting on a Santa hat this year, he did -- and in a most unusual way.

At the Christmas party for the locally owned bank, he handed out $100 to each of the 42 employees and challenged them to make a difference for people in need in the community.

Return on investment: Priceless.

"One of the best holiday seasons I've had," said Heald, 59, who's been in banking since 1972.

Three-year-old Santa Cruz County Bank is working hard to stand out in a highly competitive industry. With its regular exhibits and receptions, the locally owned bank has a reputation for supporting the arts.

Now the bank, lauded this week by the city Arts Commission, plans to move its office from 325 Soquel Ave. to downtown and remodel the space with a "green" design. The bank has leased 720 Front St., formerly occupied by Coast Commercial Bank and currently vacant. The one-story building, in the Riverwalk Plaza, sits between Cafe Mare and Trader Joe's.

"It's a prime location," said Dennis Belisle of Greater Bay Bancorp, Coast's parent company, which gave up the space in May.

Santa Cruz County Bank announced a loan program Monday to help nonprofits with a funding shortfall because of the state budget stalemate.

"When state funds cease to flow ... this has a crippling effect on local economies and more importantly, those that are directly served by these agencies," CEO David Heald said in announcing the availability of loans to day-care centers, human services organizations and other nonprofits.

Heald said the interest rate for nonprofits will be 7 percent, which is below prime. The fee to borrow $500,000 will be $250, with a smaller fee to borrow lesser amounts.

Her painting of the Boardwalk is at Santa Cruz County Bank, which is hosting an exhibit celebrating the amusement park's 100th anniversary through Aug. 30.

The gallery is on the First Weekend Art Tour, which takes place tonight, Saturday and Sunday. Details on that later. Bowlsby's 5-foot-wide watercolor is a horizontal view from the beach.