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Bank of Santa Clarita posts positive Q1 results

Posted: May 2, 2014 7:16 p.m.
Updated: May 2, 2014 7:16 p.m.

The Bank of Santa Clarita’s net earnings for the first quarter of 2014 were $248,000, representing a growth of 6 percent over the amount netted in the same period of 2013, the bank reported this week.

The bank also stated in its earnings report that net interest income for the first quarter of this year was $1.8 million — the greatest quarterly amount reported by the bank.

Loans for the quarter totaled $158.3 million, an increase of 4 percent. Deposits of $186.8 million were up 6 percent, or $11.4 million, over the first quarter of 2013.

Shareholder equity totaled $22 million, the bank stated.

“We are pleased with this quarter’s positive operating results,” said Frank Di Tomaso, chairman and CEO. “Moving forward, we continue to focus our efforts on developing strategies to improve the bank’s profit potential while maintaining its high level of service.”




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