header image

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

Inside
Weather


 
Calendar
Today in
S.C.V. History
May 23
1941 - SCV's first real movie house, the American Theater, dedicated in Newhall [story]
American Theater


The rock-solid Bank of Santa Clarita is growing so rapidly that it needs more elbow room. It will open a big, new corporate headquarters in 2013, the bank told investors in its second-quarter earnings report released July 22.

Deposits grew by 14 percent over the last 12 months to $150 million, while net loans grew by 11 percent, the bank reported. During the first six months of 2011, interest income rose to $3.23 million from $2.98 million.

Higher personnel costs and other noninterest expenses mirrored the growth, up $81,000 and $123,000 respectively.

Bank officials bit the bullet during the second quarter by launching a facilities plan that calls for the purchase of land and construction of a new operations facility to “accommodate expected growth for foreseeable future,” the bank said.

Officials expect the ongoing monthly depreciation of the new building to be “significantly less” than the monthly cost of its former corporate headquarters, which it leases.

The bank quashed its lease on that building in the second quarter, taking a $250,000 hit for the early termination. The calculated penalty forced the bank to post a loss of $56,000 on the quarter, versus year-ago profits of $111,000.

“We are pleased with our operating results, considering the second quarter charge we took resulting from our decision to exercise our option to terminate early a lease on one of our facilities,” bank President James D. Hicken said in a statement.

Added bank Chairman Frank D. DiTomaso: “It is always an honor to report to our shareholders the fact that our growth comes at a time when so many competing financial institutions have been forced to pull back. This growth is something we are very proud of, as it reflects an investment in our community.”

Founded in 2004, the Bank of Santa Clarita serves the needs of retail consumers, small to mid-sized businesses, professionals, entrepreneurs and high-net worth individuals.

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.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
SCV Veterans Memorial Inc. and Eternal Valley Memorial Park will present the 36th annual Santa Clarita Valley Memorial Day Ceremony honoring fallen American heroes on Monday, May 27 at 10 a.m.
May 27: SCV Memorial Day Ceremony at Eternal Valley
The city of Santa Clarita and GreenSantaClarita.com will host a fun, free Eco Hero Show on Friday, June 21 from 11 a.m. to noon.
June 21: Free Eco Hero Show for Ages 5-12
For the second consecutive year, The Cube – Ice and Entertainment Center | Powered by FivePoint Valencia, will host a Memorial Day Weekend Hockey Tournament. This year’s tournament will feature 43 teams, from across California. Games will begin Thursday, May 23 and end Monday, May 27.
The Cube Hosts Memorial Day Weekend Hockey Tournament
The College of the Canyons track and field program had a combined 16 student-athletes from the men's and women's teams earn All-Western State Conference honors based on their individual performance at the WSC Championships earlier this month.
Cougar Track & Field Honored with 16 All-WSC Selections
While the first day of the NAIA Track and Field National Championships was mostly about the prelims, there were a few finals that saw The Master's University athletes do well.
TMU Athletes Compete at NAIA Track & Field Championships
The Master's University Men's Gold Jonathan Larson shot a 1-over 73 in the second round of the NAIA Men's Golf National Championships, giving him a two-day total of 5-over 149 to make the cut in Dalton, Ga.
TMU’s Larson Makes Cut at NAIA National Championships
Throughout American history, few occasions resonate with as much solemnity and reverence as Memorial Day. Originating in May of 1868, to commemorate the losses in the Civil War, this revered day serves as a reminder of the countless sacrifices made by generations of servicemen and women in defense of our freedom and democracy.
Laurene Weste | Honoring Our Fallen Heroes
The inauguaral Santa Clarita Valley Festival at College of the Canyons will be held Saturday, June 8, 10 a.m.-6 p.m. at 26455 Rockwell Canyon Road, Santa Clarita, CA 91355.
Volunteers Sought for Inaugural SCV Book Festival
California State Parks is honoring the service of veterans and active and reserve military members, by offering free admission to 143 participating state park units, including the Antelope Valley Poppy Reserve State Natural Reserve, Fort Tejon State Historic Park, Malibu Creek State Park and other Southern California locations, on Memorial Day, Monday, May 27.
State Parks Offer Veterans, Military Free Admission on Memorial Day
The Santa Clarita Valley Media Collaborative's inaugural NextGen MediaMakers Festival was held Saturday, May 18 at the Canyon Country Community Center.
Inaugural NextGen MediaMakers Festival Celebrates Young Creatives
1941 - SCV's first real movie house, the American Theater, dedicated in Newhall [story]
American Theater
Representatives from The Los Angeles County Department of Public Health's Office of Violence Prevention today joined other members of the National Offices of Violence Prevention Network at an event hosted by the White House Office of Gun Violence Prevention.
Public Health Attends White House Event on Community Violence Intervention
Circle K will offer 40 cents off per gallon of fuel between 4 and 7 p.m. local time Thursday, May 23 during Circle K Fuel Day Pop-Up and 50% off on car washes all day at over 200 participating Circle K locations including Los Angeles.
May 23: Circle K Offers 40 Cents Off For Fuel Day Pop-up
Ditch the predictable and dive headfirst into the Liquid Courage Comedy Hour, Friday and Saturday, June 7 to 8 at 8 p.m. in Old Town Newhall.
June 7: The MAIN Hosts Two Female Lead Comedy Performances
State Superintendent of Public Instruction Tony Thurmond today joined Assemblymember Chris Ward (D-San Diego) and Senator Susan Talamantes Eggman (D-Stockton), Chair of the California Legislative LGBTQ Caucus, along with teachers, parents, and LGBTQ+ advocates, to announce Assembly Bill (AB) 1955, the Support Academic Futures and Educators for Today’s Youth (SAFETY) Act, to ensure all students have a safe and supportive environment to learn regardless of gender identity. 
Legislators and LGBTQ+ Advocates Announce New SAFETY ACT
 Sen. Scott Wilk (R-Santa Clarita) announced that his second school transparency bill, which mandates the California Department of Education to publish information on its website about the members selected for its Parent Advisory Council, was approved on the Senate Floor.
Wilk’s Parent Advisory Council Transparency Bill Passes Senate Floor
The Department of Motor Vehicles is making it so easy for Californians to take care of business as part of its customer-focused digital transformation that the DMV will no longer process simple transactions in offices that can easily be completed online or through other convenient options.
DMV Innovations Making it Easier than Ever to Skip Office Trip
California Nurses Association applauds the California Senate’s passage (31-8) of S.B. 1061, which would prohibit consumer reporting agencies from including medical debt on credit reports.
CNA Applauds State Senate’s Passage of S.B. 1061 Removing Medical Debt From Credit Reports
As Memorial Day weekend approaches and Californians gear up for summer festivities, the California Highway Patrol will implement a statewide traffic enforcement effort to help everyone reach their destination safely.
CHP Urges Everyone to ‘Buckle Up’ as Holiday Weekend Approaches
The Los Angeles County Animal Care Foundation is set to receive a $75,000 grant investment from the national nonprofit, Petco Love, in support of their lifesaving work for animals in Los Angeles County.
National Nonprofit Petco Love Invests in the Los Angeles County Animal Care Foundation to Save, Improve the Lives of Pets in L.A.
When Nicole Brooks leafed through the College of the Canyons Fall 2022 class schedule, a British Literature course caught her eye. 
From COC to the University of Cambridge
1865 - Discoverer Ramon Perea and partner sell Pico Canyon oil claim to Edward Beale & Robert Baker for $300 [story]
grave marker
The County of Los Angeles Fire Department’s urban search and rescue (USAR) team, known internationally as USA-2, successfully completed a 36-hour training exercise and evaluation by international experts last week at the Del Valle Regional Training Center in Castaic to continue deploying to disasters around the world.
LACoFD Hosts International Disaster Search, Rescue Training
The Los Angeles County Board of Supervisors appointed Edward Yen as the new executive officer Tuesday to oversee the administration of the Board of Supervisors.
Supes Appoint Edward Yen Executive Officer
SCVNews.com