Santa Cruz County Bank Ranks 24th in USMay 20, 2017
Santa Cruz County Bank is among the top performing community banks and thrifts in the U.S. for the fourth straight year, this year ranking 24th, according to American Banker Magazine.
Rankings are based on three-year average return on equity for the years ending Dec. 31, 2014, 2015 and 2016.
Santa Cruz County Bank’s three-year average return on equity was 12.90 percent. The average for the top 200 banks was 10.86 percent compared to 7.62 percent for all 669 banks and thrifts rated.
The ranking covers institutions with less than $2 billion in assets.
Four years ago, Santa Cruz County Bank ranked 115th, observed David Heald, president and CEO, thanking his board of directors, management team and his entire staff.
First quarter profit for the period ending March 31 was $1.875 million, up from $1.5 million a year ago, a 25 percent increase.
Loans grew to $421.5 million, up 12 percent from a year ago, and deposits grew to $537 million, up 14 percent from a year ago.
Return on average equity was 14.61 percent.
The annual meeting of shareholders will be at 4 p.m. Monday at the Sesnon House at Cabrillo College, 6500 Soquel Drive, Aptos.