SANTA CRUZ, Calif., Dec. 18, 2018 /PRNewswire/ -- Santa Cruz County Bank (OTC: SCZC), a top rated, high performing bank, announced its Board of Directors' declaration of a quarterly cash dividend in the amount of $0.075 per share. The dividend is payable on January 10, 2019 to shareholders of record as of the close of business on December 28, 2018. This is the twenty-third consecutive quarterly cash dividend declared by the bank. In addition to cash dividends, a 10% stock dividend was granted to shareholders in November 2017.
The Bank reported a record $2.9 million in net income for the quarter ended September 30, 2018, an increase of 40%, compared to the prior year. This represented an 18.17% return on average equity. The book value per share of Santa Cruz County Bank's common stock at September 30, 2018 was $26.81, compared to $25.74 as of September 30, 2017. Shareholders' equity grew to $65.4 million, a 16% or $8.8 million increase compared to September 30, 2017.
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, mobile and online banking, bill payment, and cash management. The Bank's SBA Department is recognized as a top SBA lender in Santa Cruz County, Silicon Valley and Central San Joaquin Valley. Santa Cruz County Bank is a top USDA lender in the state of California.
Santa Cruz County Bank stock is publicly traded under the stock symbol SCZC. Stock purchase orders may be placed through a brokerage firm, online, or through one of our Market Makers listed in the Investor Relations section of the bank's website. For more information about Santa Cruz County Bank, please visit our website www.sccountybank.com.
NATIONAL, STATE, AND LOCAL RATINGS AND AWARDS
S&P Global Top 100 Community Banks 2017: Santa Cruz County Bank ranked 63rd in the nation out of nearly 3,000 banks with assets under $1 billion.
Financial Management Consulting (FMC) Group: Santa Cruz County Bank ranked 1st in overall performance among 148 California banks and ranked 1st in asset quality and also #1 (lowest) in non-performing assets for the first, second and third quarters in 2018. The Bank has ranked in FMC's top ten banks in California for the past three years.
The Findley Reports, Inc.: Santa Cruz County Bank was named a Super Premier Performing Bank for its 2017 performance. The Bank has received the top ranking of Super Premier by Findley for eight consecutive years.
Bauer Financial Reports, Inc.: Santa Cruz County Bank rated five star or "Superior" for its financial strength for September 30, 2018.
American Banker Magazine: Santa Cruz County Bank ranked 22nd out of 633 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 five consecutive years.
Independent Banker Magazine, published by the ICBA: Santa Cruz County Bank ranked 22nd in its Top Best Performing Member Community Banks for return on average equity.
COMMUNITY AWARDS AND RECOGNITION
2018: Business of the Year, awarded by the Santa Cruz Chamber of Commerce
2018: Farm Bureau of Santa Cruz County, Al Smith Friend of Agriculture Award.
2017: Second Harvest Food Bank of Santa Cruz County, "Big Step Award" for the 2016 Holiday Food Drive.
2016: United Way of Santa Cruz County "Corporate Spirit Award" for outstanding support.
2018, 2017, 2016, 2015, 2014, 2013: Voted "Best Bank" by the readers of Good Times, a weekly publication with distribution throughout Santa Cruz County.
2018, 2017, 2016, 2015: Voted "Best Bank" by the readers of Santa Cruz Sentinel, a daily publication with distribution throughout Santa Cruz County.
SOURCE Santa Cruz County Bank