The Bank of Santa Clarita has posted a second-quarter profit of $35,000, compared to a second-quarter loss of $56,000 one year earlier.

That might seem like a reversal of fortune, but the fact is, the 2011 figure included a one-time penalty charge of $250,000 for the early termination of the bank’s Magic Mountain Parkway headquarters lease. Without that hit, year-ago earnings would have been higher.

Total facility costs fell to $428,000 during the first six months of 2012, from $684,000 during the first six months of 2011.

Figures for 2012 were impacted by undisclosed one-time costs associated with the departure in April of bank founders Jim Hicken and Kimberly Altobello.

However, the bank saw its loan portfolio grow by 5 percent over the past year to $144 million as of June 30, while interest income increased by 8 percent year-over-year for the six months ending June 30. During that time, the bank’s interest margin – the difference between the amount of interest borrowers pay to the bank, and the amount of interest the bank pays out to depositors – improved to 3.62 percent from 3.48 percent.

Earnings for the first half of 2012 are $102,000, versus a loss of $27,000 during the first six months of 2011.

The bank released its earnings report after the close of business Tuesday.

With the one-time costs of Hicken and Altobello’s departure behind it, the bank said it “expects to benefit from the lower management-related cost structure in future periods.”

CEO Frank Di Tomaso said: “Because the current economic environment presents many challenges, the bank’s board of directors recently streamlined the bank’s executive management structure in order to stimulate basic improvements in the bank`s ability to drive innovation, accelerate profitable growth and increase both accountability and shareholder value.”

“In spite of the challenging economy, low interest rate environment and intensified competition, we are pleased with our growth in loans and deposits, and in our steady profitability,” Di Tomaso said in the earnings statement. “Our solid second quarter performance was achieved by attracting and enhancing new and existing customer relationships within our local marketplace.”

Founded in 2004, the Bank of Santa Clarita is the only independent, full-service commercial bank headquartered in the Santa Clarita Valley and serves retail consumers, small to mid-sized businesses, professionals, entrepreneurs and high-net worth individuals.