Santa Cruz County Bank Announces Change in Board Appointments for Chairman and Vice-Chairman

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May 22, 2017, 20:15 ET

SANTA CRUZ, Calif., May 22, 2017 /PRNewswire/ -- Santa Cruz County Bank (OTC: SCZC) announced today at its Annual Meeting of Shareholders the appointment of director and vice-chairman, William J. Hansen, as board chairman. Mr. Hansen will succeed founding board chairman, George Gallucci, who will continue serving on the board.

Mr. Hansen, President and CEO of Hansen Insurance Agency and owner of Pacific Coast Development, has served as vice-chairman of the board of directors since the bank's inception. Mr. Hansen, a founding director of the bank, has served as chairman of the Loan Committee since the banks inception and currently serves on the Audit, Compensation and Executive committees.

Succeeding Mr. Hansen as vice-chairman of the board is David V. Heald, President and CEO of Santa Cruz County Bank, who is also a founding director of the bank. The bank's board composition remains the same with a total of seven directors, six of whom are founding directors.

"It has been an honor to serve as chairman for the past 13 years, but the time to step aside is while you are able to be the one to say, 'it is time for me to step aside'. It has been tremendously gratifying to help steer the bank to become one of the most successful and well respected financial institutions in the industry. I look forward to continued service on the board in the years ahead," stated George Gallucci.

Incoming Chairman William J. Hansen stated, "I am honored and look forward to serving as chairman of the board of Santa Cruz County Bank. On behalf of the entire board, I want to thank George Gallucci for his leadership as chairman for all these years. The Bank has become one of the finest financial institutions in the country over the past thirteen years and shareholders can rest assured we will work to continue exceptional growth and financial performance in the years ahead."

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, mobile deposit, remote deposit capture, and online banking bill payment and cash management. The Bank's SBA Department has been recognized as a top SBA lender in Santa Cruz County and the Silicon Valley.

NATIONAL, STATE, AND LOCAL RATINGS AND AWARDS
OTCQX Best 50: Santa Cruz County Bank was named one of 50 best performing companies on OTCQX based on total return and growth in average daily dollar volume in 2015.

Financial Management Consulting (FMC) Group: Santa Cruz County Bank ranked 1^st overall in performance among all California banks for the first quarter ended March 31, 2017.

The Bank ranked 2^nd in overall performance among 185 California banks and ranked 1^st (lowest) in non-performing assets for the full year in 2016. The Bank has ranked in FMC's top ten banks in California for the past two years.

The Findley Reports, Inc.: Santa Cruz County Bank was named a Super Premier Performing Bank for its 2016 performance. The Bank has received the top ranking of Super Premier by Findley for seven consecutive years.

Bauer Financial Reports, Inc.: Santa Cruz County Bank rated five star or "Superior" for its financial strength for the quarter ended December 31, 2016.

American Banker Magazine: Santa Cruz County Bank ranked 24^th out of 699 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 four consecutive years.

Independent Banker Magazine, published by the ICBA: Santa Cruz County Bank ranked 22^nd in its Top Best Performing Member Community Banks for return on average equity.

COMMUNITY AWARDS AND RECOGNITION
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.

2017, 2016, 2015, 2014, and 2013: Voted "Best Bank" by the readers of Good Times, a weekly publication with distribution throughout Santa Cruz County.

2017, 2016, and 2015: Voted "Best Bank" by the readers of Santa Cruz Sentinel, a daily publication with distribution throughout Santa Cruz County.

2013: Volunteer Center of Santa Cruz County "Be the Difference" Business Award for leadership and volunteerism.

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