header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Partly cloudy
Partly cloudy
56°F
 
Calendar
Today in
S.C.V. History
October 25
1898 - Newhall pioneer Henry Clay Wiley (Wiley Canyon) dies in Los Angeles [story]
HC Wiley


Bank of Santa Clarita

Bank of Santa Clarita announced Monday that for the first quarter of 2018 it again achieved record levels of earnings, as net earnings totaled $609,000, a 34 percent improvement over the first quarter of 2017.

In reviewing 2018 results, the bank reported a year-over-year growth in net interest income of 9 percent. While a significant contributor to the bank’s growth in net earnings was the reduction in the Federal statutory income tax rate, the bank noted that pre-tax earnings for the first quarter of 2018 exceeded pre-tax earnings during 2017’s first quarter by 16 percent.

The bank reported total net loans of $222.8 million at March 31, 2018, an increase of 8 percent over the year-earlier date. The bank also continues to have excellent credit quality in its loan portfolio, as it had no nonaccrual loans at March 31, 2018.

“We are pleased with our first quarter record-breaking operating results,” said Chairman of the Board and Chief Executive Officer Frank Di Tomaso. “This was accomplished through the hard work and effort of our entire team and the support of our community.

“Moving forward, we continue to focus our efforts on improving the bank’s profit potential while maintaining its high level of service,” Di Tomaso said. “These strategies further enhance our ability to better serve our clients and increase our potential to generate even stronger financial results on behalf of our shareholders. Additionally, we are also pleased with our sustained asset quality, which is a reflection of the bank’s historically strong underwriting standards.”

At March 31, 2018, shareholders’ equity totaled $29.9 million and the bank’s total capital ratio was 13.20 percent, significantly exceeding the “well capitalized” level 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 experienced 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, since 2004, 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 and healthy community.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

2 Comments

  1. Brian Wood Brian Wood says:

    I’m sorry, but what does a bison have to do with this story?

Leave a Comment


Latest Additions to SCVNews.com
1898 - Newhall pioneer Henry Clay Wiley (Wiley Canyon) dies in Los Angeles [story]
HC Wiley
1992 - Dedication of Santa Clarita's first Metrolink station (Santa Clarita Station) [brochure]
brochure
The Los Angeles County Department of Public Health on Friday confirmed 23 new deaths and 2,773 new positive cases of COVID-19, including 56 new cases in the Santa Clarita Valley.
Friday COVID-19 Roundup: 296,821 L.A. County Cases, 7,000 in SCV
California Governor Gavin Newsom on Friday announced a major injection of new Homekey funding made possible by the Legislature to expand and support the state program, helping thousands of families experiencing or at risk of homelessness find permanent, long-term housing solutions.
Sixth Round of ‘Homekey’ Funding Includes $24M for L.A. County
The Santa Clarita City Council has posted its agenda for a regular meeting in Council Chambers at City Hall on Tuesday, October 27.
Oct. 27 Meeting Agenda: Santa Clarita City Council
The city of Santa Clarita has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada.
City of Santa Clarita Earns National Financial Reporting Award
The Santa Clarita Valley Sheriff's Station will host a National Drug Takeback Day event on Saturday, October 24, between 10 a.m. and 2 p.m.
Oct. 24: SCV Sheriff’s Station to Host Drug Takeback Day
City of Santa Clarita officials delivered the 2020 State of the City event Thursday in true COVID-19-era format: virtually, while shining a light on local essential workers who have toiled tirelessly since the onset of the pandemic.
Santa Clarita 2020 ‘State of the City’ Highlights Resilience Amid Challenges
Governor Gavin Newsom has announced the retirement of California Highway Patrol Commissioner Warren Stanley, and the appointment of Deputy Commissioner Amanda Ray to succeed Stanley.
CHP’s Stanley to Retire; Governor Names Amanda Ray New Commissioner
A new state law set to take effect in January requires employers to provide notice of workplace COVID-19 exposure, and Santa Clarita Valley business leaders are urging local businesses to review their health and safety procedures now.
COVID-19 Exposure: SCV Business Leaders Weigh in on AB 685
A Santa Clarita Valley Sheriff's Station deputy arrested a woman and a male parolee on felony drug and weapons charges in Valencia earlier this week.
Parolee, Woman Arrested in Valencia on Felony Drug, Weapon Charges
1888 - 8:15 a.m.: Newhall's luxurious Southern Hotel burns to the ground [story]
Southern Hotel
California State University, Northridge will be home to one of the 1,000 vote centers across Los Angeles County that are open to the county’s voters in the days before the Nov. 3 presidential election.
CSUN to Serve as L.A. County Vote Center Beginning Oct. 24
Los Angeles County residents who lost their home or sustained other losses due to the recent Bobcat Wildfire may now apply to receive federal assistance.
FEMA Application Now Open for L.A. County Residents Affected by Bobcat Fire
Los Angeles County Treasurer and Tax Collector Keith Knox and County Assessor Jeffrey Prang are alerting the public to a property tax scam under the guise of COVID-19 that has been reported to a District Office of the Assessor.
County Officials Warning Residents of COVID-19 Property Tax Scam
Los Angeles County is providing a second opportunity for financial assistance to businesses that have been disproportionately impacted by the COVID-19 pandemic and have been allowed to reopen by the State, but ordered to remain closed by the County of Los Angeles Health Officer Order as of Sept. 4, 2020.
L.A. County Announces Second Round of Funding for Businesses Impacted by COVID-19
The Los Angeles County Department of Public Health confirmed Thursday 18 new deaths and 3,600 new cases of COVID-19 countywide, including 6,944 total cases in the Santa Clarita Valley and a new fatality in the city of Santa Clarita.
Thursday COVID-19 Roundup: 73rd SCV Death; Local Cases Up to 6,944
SCV Water is undertaking multiple planning efforts designed to effectively manage the water supply for our customers, ensuring they have access to reliable water today and tomorrow.
SCV Water Undertaking Multiple Planning Efforts to Enhance Water Reliability
With L.A. County’s Project Roomkey coming close to an end, Bridge to Home officials announced Thursday a new initiative to house more than two dozen local homeless individuals, but it will require help from the community
Bridge to Home’s New Initiative Pledges to House 30 Homeless People by January 5
Santa Clarita Artists Association will hold its last virtual oil workshop of the year on Sunday, Nov. 15, from 3:00 p.m. - 6:00 p.m., with Rich Gallego, entitled, "Using a Modified Zorn Palette to Create Harmonious Landscapes."
Nov. 15: Last SCAA Virtual Oil Painting Workshop of 2020 with Rich Gallego
The Dr. Dianne G. Van Hook University Center will host a virtual open house event on Friday, Oct. 30 for prospective students interested in earning a bachelor’s or master’s degree through the center’s partner institutions.
Oct. 30: Dr. Dianne G. Van Hook University Center Virtual Open House
Santa Clarita homeless task force members are exploring options to start a local overnight parking program akin to those in Santa Barbara and Los Angeles.
SCV Homeless Task Force Exploring Overnight Parking Options
The William S. Hart Union High School District will likely not return to campus until January, Superintendent Mike Kuhlman said during the district’s governing board meeting Wednesday.
Hart District Looks to January Reopening
Los Angeles County Public Works and Los Angeles County Sanitation Districts will host a free Household Hazardous Waste and E-Waste Recycling Roundup, Saturday, Oct. 24, from 9:00 a.m. - 3:00 p.m., at Val Verde Park.
Oct. 24: Free Household Hazardous Waste & E-Waste Recycling Roundup
%d bloggers like this: