Santa Cruz County Bank Completes $2.5 Million Private Stock Offering

SANTA CRUZ, Calif., Nov. 30, 2010 /PRNewswire-FirstCall/ -- Santa Cruz County Bank (OTC Bulletin Board: SCZC), a locally owned and operated full-service community bank headquartered in Santa Cruz County, today announced the close of its private placement offering of common stock, issuing 241,600 shares of common stock and successfully raising $2,500,560.00 in capital to support the Bank's growth. The Bank offered shares of its common stock at a purchase price of $10.35 per share to a limited number of accredited investors. The Bank successfully closed the offering on November 19, 2010.

George Gallucci, Chairman of the Board of Directors, stated, "We are very pleased to have received such a favorable response to our Offering. The capital raised will be used to support our continued growth."

ABOUT SANTA CRUZ COUNTY BANK

Headquartered in Santa Cruz, Santa Cruz County Bank is a full-service bank serving the banking needs of individuals and businesses throughout Santa Cruz County. The Bank operates five full-service banking offices and two self-serve banking centers. Each of the Bank's offices has received a Green Business Certification Award by the Monterey Bay Area Green Business Program. The Bank's full-service banking offices are located in Aptos, Capitola, Santa Cruz, Scotts Valley and Watsonville. The Bank commenced operations on February 3, 2004 in Santa Cruz.

Santa Cruz County Bank's common stock is listed on the Over the Counter (OTC) Bulletin Board under the stock symbol SCZC. More information on the Bank may be obtained through its website: www.sccountybank.com or by calling 831.457.5000.

This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties 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