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Santa Cruz County Bank Announces Third Quarter 2014 Earnings
Santa Cruz County Bank reported record earnings for the third quarter of 2014 with continued growth in income, loans and deposits, and excellent credit quality. Compared to the third quarter of 2013, gross loans increased $55.7 million, 24%, to $296.7 million; total deposits increased $47.8 million, 13% to $413.9 million and total assets increased $54.1 million, 13%, to $457.2 million. Net income increased $641 thousand, 26%, to $3.1 million for the nine-months ended September 30, 2014 compared to the nine-months ended September 30, 2013.
David V. Heald, President and CEO, commented, “We are pleased to announce a significant increase in our earnings for the quarter and year over year. The Bank’s Board of Directors and Management have built sustainable growth in earnings, assets, loans and deposits while controlling expenses, resulting in greater value for our shareholders. We look forward to reporting another solid year of growth.
Best Bank in Santa Cruz County!
We wish to thank everyone who cast a vote to identify us as the “Best Bank” in Santa Cruz County in the Santa Cruz Sentinel's 2014 Readers Choice Awards poll. Our mission is to be the community’s bank of choice. According to the results of this poll as well as the Good Times readers poll, we have succeeded in our mission to be the community’s bank of choice.
Santa Cruz County Bank is a 4-Star "Excellent" Rated Bank
Santa Cruz County Bank is rated a 4-Star “Excellent” bank by Bauer Financial, Inc. based upon its financial performance for the quarter ending June 30, 2014. 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.
Santa Cruz County Bank Arts Collaborative presents "Through Our Lenses"
Through Our Lenses, China and India: Home to Over 1/3 of the World's People, which features six of our areas’ finest travel photographers, offers a glimpse into the culture and lives of the people in these diverse countries. With a combination of over eighty years of photographing India and China, these artists offer an historical perspective as to how these two countries rose to become the industrialized and powerful nations they are today.
Through our Lenses, is a collaborative exhibit, which is on display at the Pajaro Valley Gallery and at all five Santa Cruz County Bank branches. The exhibit includes a special selection of color, black and white, digital, as well as traditional gelatin silver prints by artists Mary Altier and Carol Trengove, co-curators of the Pajaro Valley Art Gallery exhibit, Elyse Destout, Shmuel Thaler, Paul Titangos, and Mark Wainer. Artwork at Santa Cruz County Bank is curated by Joan Blackmer.
Santa Cruz County Bank Ranks in American Banker Magazine’s Top 200 Best Performing Community Banks and Thrifts in the United States
Santa Cruz County Bank ranked 115th in American Banker Magazine’s Top Performing 200 Community Banks and Thrifts in the United States. A total of 851 institutions, with less than $2 billion in assets, were included in the nationwide ranking. Ranking was based upon 3-year average return on equity for the years ending December 31, 2011, 2012 and 2013. This is the second consecutive year Santa Cruz County Bank has ranked in the Top 200 Community Banks.
David Heald, President and CEO commented, “This outstanding performance ranking is the result of our focus and commitment to enhance shareholder value. Our Board of Directors, our Management team and our entire staff are to be commended for our performance.”
Santa Cruz County Bank Voted “Best Bank”!
The votes are in! Once again Santa Cruz County Bank was voted “Best Bank” in the annual Best of Santa Cruz County Good Times Readers’ Poll. Thank you to all Good Times readers and customers who cast their vote for us! The results mirror our mission to be the community’s bank of choice.
Santa Cruz County Bank Named Super Premier Performing Bank
Santa Cruz County Bank has been recognized as a Super Premier Performing Bank for its 2013 financial performance by The Findley Reports, Inc. a highly regarded financial industry consulting firm that has been recognizing the financial performance of banking institutions for over forty years. Gary Steven Findley, editor of The Findley Reports remarked, "Recognizing Santa Cruz County Bank as a Super Premier performing bank is becoming an annual event. This recognition only validates what we already know – Santa Cruz County Bank is an “Exceptional” Bank and a top performer amongst all California Banks.” In evaluating banks for recognition, The Findley Reports focuses on four components: growth, return on beginning equity, net operating income as a percentage of average assets and loan losses as a percentage of gross loans. Super Premier is the highest rating level established by The Findley Reports, Inc. David Heald, President and CEO of Santa Cruz County Bank commented, “This designation is the result of the hard work and dedication of our Board of Directors, our Management team and our employees to meet high service standards and deliver exceptional value for our shareholders.”
Celebrating 10 Years of Serving Our Community
As we enter our tenth year of serving Santa Cruz County, we wish to thank our customers and our community for supporting our vision to be the local community bank of choice. When we first opened our doors in February 2004, we operated out of one location with 13 employees. Today, we operate five full-service banking offices and employ over 70 local staff members. On behalf of everyone at Santa Cruz County Bank, we thank you! Please join us in celebration of our tenth year of serving Santa Cruz! Come in to any of our 5 locations for Customer and Community Appreciation Week from February 3-7th.
Be The Difference Award
One important mission for Santa Cruz County Bank is to offer continued support for our community. We are proud to provide volunteers, fundraising efforts and sponsorships throughout the county for various events. For more information regarding our community involvement visit our Community Involvement page.
In October, Santa Cruz County Bank received the 2013 Volunteer Center of Santa Cruz “Be The Difference” Business Award for leadership and volunteer efforts. We attribute the achievement to all of our employees, our Management team members and our Board of Directors, who are all actively engaged in reinvesting in our community.
Read the full story about Be The Difference Award recipients, nominees, groups, individuals and businesses, including Santa Cruz County Bank.
To view our Be The Difference Award Video, which includes a thank you to all of our Board of Directors and employees, click here
Green Minded Businesses
Meet some of the Green Minded Businesses that bank with us! We're pleased to have relationships with local businesses that have made a commitment to environmental practices. If you're a green minded business that would like to bank with Santa Cruz County Bank, let us know!