CEO Frank Di Tomaso
Bank of Santa Clarita today announced record earnings for 2015, as it earned $1.22 million, representing an increase of 19 percent over 2014 earnings. The Bank also reported that it had a record 23 percent growth in deposits, from $179.9 million to $220.9 million during the year, and all of that growth was in core deposits. In addition, the Bank’s loans totaled $183.2 million at Dec. 31, 2015, a growth of $18.1 million or 11 percent in 2015. Finally, the Bank continues to experience excellent credit quality in its loan portfolio, as nonaccrual loans at year-end totaled approximately $1,000, or less than 0.01 percent of total loans.
“The Bank’s year over year growth in deposits, loans and earnings were quite substantial and reflect the successful execution of our business strategies,” stated Frank Di Tomaso, Chairman and Chief Executive Officer. “This past year’s achievements are attributed to our staff’s commitment and dedication toward building a strong, locally-headquartered community bank in the Santa Clarita Valley, and to the overall vibrancy of our local economy. We are also very pleased with our sustained excellent asset quality, which results from the Bank’s historically strong underwriting standards.”
At December 31, 2015, shareholders’ equity totaled $25.5 million and the Bank’s total capital ratio was 13.62 percent, exceeding the “well-capitalized” level of 10 percent which is prescribed in the applicable capital regulations. The Bank also continues to maintain substantial liquidity positions, retaining significant balances of liquidity on its balance sheet as well as readily available collateralized borrowings and other potential sources of liquidity.
Founded in October 2004, Bank of Santa Clarita is the only full service commercial bank headquartered in the Santa Clarita Valley and is focused on the needs of the community and its businesses. We promote face-to-face interaction with our clients, which in turn leads to deeper relationships overall. The Bank provides local, experienced decision-making and the personalized service that growing businesses need on a daily basis. Bank clients have direct access to executive management and professional staff members to address their credit requirements from commercial lines of credit to SBA loans to commercial real estate and other commercial loans, and also technology-based services that include online bill-paying, remote capture depositing, check imaging and initiating online wire transfers, among other cash management facilities.
We are proud of the fact that Bank of Santa Clarita has served the Santa Clarita Valley’s residents, including individuals, small businesses and non-profit organizations, for more than ten years, and we cherish the relationships we’ve made with many of our neighbors, and invite any of those in the community who do not yet know us well to visit us, and together we can continue to build an even more vibrant community.