Santa Cruz County Bank In The News
Santa Cruz County Bank posted a profit of $2.8 million for 2012, up 17 percent from the year before.
The locally owned bank, which will mark nine years in February, reported earnings of $1.47 per share for the year, up from $1.27 a year ago, and paid more in taxes, $1.7 million, up from $1.5 million a year ago.
The profit for the quarter was $849,000, up 8 percent from the prior quarter and up 26 percent from a year ago.
The exhibit, which has run from Sept. 17 through Jan. 18, is a collaboration with the local group Santa Cruz Oil Painters (SCOP) and features over 100 oil paintings of local, state and national parks located across California.
Since the Santa Cruz County Bank opened in 2004, it has been committed to collaborating with various local artists in an effort to promote art education and awareness.
Senior vice president and director of marketing for the Santa Cruz County Bank, Mary Anne Carson, said the banks’ artistic collaborations are an “ongoing commitment to supporting and reinvesting in the [Santa Cruz] community.”
For “Painting Our Parks,” Carson wanted to capture the natural beauty of California’s parks while also promoting the oil paintings of SCOP.
Tryg Thorensen got a construction loan from Santa Cruz County Bank for $1.25 million to expand beds from 14 to 21 at De Un Amor, a residential care facility for the elderly in Corralitos he's run for 18 years.
Manuel Rodrigues, who owns five Ace Hardware stores with his brother Carlos and employs 52 people, refinanced and consolidated loans at Santa Cruz County Bank, and hired three more employees for the Watsonville location.
Santa Cruz County Bank posted a $785,000 profit for the quarter ending Sept. 30, up 24 percent from the prior quarter and up 2 percent from a year ago.
The quarterly jump "was in part due to our election to sell some of our loans," said David Heald, bank president and chief executive officer. "In comparison to quarterly earnings for 2011, we did not have the benefit of gains taken in our securities portfolio."
The sun's chilling the fruits and veggies at Watsonville Coast Produce these days.
The wholesale distributor has installed 2,400 solar panels to power its more than 60,000-square-foot Kearny Street office and warehouse, including 18,000 square feet dedicated to refrigerated coolers.
The conversion to solar power is just one of several steps the company has taken in the past several years to go green with the aim of boosting the bottom line and preserving the business and environment for future generations.
Santa Cruz County Bank hires veteran lender: Sati Kanwar specializes in Small Business Administration loans
Veteran lender Sati Kanwar, formerly with Valley Community Bank, is joining Santa Cruz County Bank as senior vice president/Small Business Administration business development officer.
He is a specialist in government-guaranteed loans, such as those backed by the Small Business Administration and U.S. Department of Agriculture.
Read the full story at www.santacruzsentinel.com
Santa Cruz County Bank posted a profit of $633,000 for the quarter ending June 30, up 10 percent from the prior quarter and up 18 percent from a year ago.
Loans totaled $203.4 million, growing by $3.6 million, up 2 percent from the prior quarter and up 18 percent from a year ago.
"We made $15 million in loan commitments during the quarter," said David Heald, Santa Cruz County Bank president and chief executive officer, noting the $3.6 million increase reflects loan payoffs.
Santa Cruz County Bank is pushing for business in South County, moving Executive Vice President and Regional Credit Manager Fred Caiocca to Watsonville.
The move this month came in the wake of the disappearance of First National Bank, which was rebranded Santa Barbara Bank, then acquired in March by San Francisco-based Union Bank.
Santa Cruz County Bank President and Chief Executive Officer David Heald announced the shift Tuesday during the ninth annual shareholders meeting attended by 90 people at Cafe Bittersweet.
Santa Cruz County Bank, a locally owned and operated bank, today announced strong earnings for the first quarter ended March 31.
For the three-month period ended March 31, the bank reported a 26 percent increase in total earnings after tax to $573,485, compared to $453,538 for the same period that ended March 31, 2011.
Santa Cruz County Bank posted a profit of $573,000 for the quarter ending March 31, down 15 percent from the previous quarter but up 26 percent from a year ago.
Loans totaled $199.8 million, growing by $8.5 million from the previous quarter.
"Overall, we are ahead of where we were in the first quarter of last year," said David Heald, Santa Cruz County Bank president and chief executive officer. "We are pleased with our first quarter and the 26 percent increase in net income after tax compared to the first quarter of 2011."