SANTA CRUZ, Calif., March 15, 2016 /PRNewswire/ -- Santa Cruz County Bank (OTCQX: SCZC), a top rated, high performing Bank, announced that its Board of Directors has declared a quarterly cash dividend in the amount of $0.05 per share. The dividend is payable on April 11, 2016 to shareholders of record as of the close of business on March 30, 2016. This is the twelfth consecutive quarterly cash dividend declared by the twelve year old Santa Cruz County Bank.
The Bank reported $5.4 million in net income for the year ended December 31, 2015, an increase of 24%, compared to the year ended December 31, 2014. The book value per share of Santa Cruz County Bank's common stock at December 31, 2015 was $20.47, compared to $18.04 as of December 31, 2014. Shareholders' equity grew to $44.1 million, a 14% or $5.5 million increase as of December 31, 2015, compared to the prior year. The Bank was named one of 50 best performing companies on OTCQX based on total return and growth in average daily dollar volume in 2015.
ABOUT SANTA CRUZ COUNTY BANK
Santa Cruz County Bank, founded in 2004, is a locally owned and operated community bank with offices located in Aptos, Capitola, Santa Cruz, Scotts Valley and Watsonville. The Bank offers a variety of competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, agricultural loans, SBA and USDA government guaranteed loans, credit cards, merchant services, remote deposit capture, and online banking bill payment and cash management. For the past nine years, the Bank's SBA Department has been recognized as a top SBA lender in Santa Cruz County and in the Silicon Valley.
RATINGS & AWARDS
2015: OTCQX Best 50 performing companies
Financial Management Consulting Group:
2015: Santa Cruz County Bank ranked 2nd out of all California banks in overall performance for the year ended 2015 and ranked 1st for asset quality and 1st for fewest nonperforming loans.
2014: Santa Cruz County Bank ranked 4th out of all California banks in overall performance and 1st for fewest nonperforming loans.
The Findley Reports, Inc.:
2012: One of eleven "Exceptional Banks" in California
2015, 2014, 2013, 2012, 2011: "Super Premier Performing Bank"
Bauer Financial Reports, Inc.:
Santa Cruz County Bank has received the distinction of 4-Star "Excellent" and 5-Star "Superior" by Bauer Financial Reports, Inc., for its financial performance every quarter since 2007.
American Banker Magazine:
2015: Santa Cruz County Bank ranked 115th out of 851 institutions in American Banker Magazine's "Top Performing 200 Community Banks & Thrifts in the United States" based upon 3-year average return on equity. The Bank has ranked in the Top 200 Community Banks in the United States for three consecutive years.
For more information, visit www.sccountybank.com.
This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
SOURCE Santa Cruz County Bank