Santa Cruz County Bank Declares Quarterly Cash Dividend Payment to Shareholders
SANTA CRUZ, Calif., March 19, 2019 /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 April 10, 2019 to shareholders of record as of the close of business on March 29, 2018. This is the twenty-fourth 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 $11.4 million in net income for the year ended December 31, 2018, an increase of 68%, compared to the prior year. This represented an 18.05% return on average equity. The book value per share of Santa Cruz County Bank's common stock at December 31, 2018 was $27.98, compared to $23.64 as of December 31, 2017. Shareholders' equity grew to $68.5 million, a 20% or $11.2 million increase compared to December 31, 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: Santa Cruz County Bank ranked 63rd in the nation out of nearly 3,000 banks with assets under $1 billion based upon 2017 performance. The Bank has ranked in the Top 100 Community Banks by S&P Global for two consecutive years.
Financial Management Consulting (FMC) Group: Santa Cruz County Bank is the top bank in California in overall performance among 148 banks, and also ranked 1st in asset quality as well as 1st (lowest) in non-performing assets for its financial performance in the first, second and third quarters for 2018. The Bank ranked 2nd in overall performance for California banks for the full year in 2018. The Bank has ranked in FMC's top ten banks in California for the past four years.
The Findley Reports, Inc.: Santa Cruz County Bank was named a Super Premier Performing Bank for its 2017 financial 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 is rated 5-star or "Superior" based upon its financial performance.
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 ranked 4th out of 26 California banks. The Bank has ranked in the Top 200 Community Banks in the United States for five consecutive years.
The Bank ranks 8th in the Silicon Valley for the number of SBA loans lent to Silicon Valley businesses for the SBA's 2018 fiscal year.
2018 COMMUNITY AWARDS AND RECOGNITION
Santa Cruz Chamber of Commerce, Business of the Year Award.
Second Harvest Food Bank, Platinum Level Award for 2018 Holiday Food Drive.
Farm Bureau of Santa Cruz County, Al Smith Friend of Agriculture Award, for support of the agricultural industry.
Voted "Best Bank" by the readers of Good Times, a weekly publication with distribution throughout Santa Cruz County for six consecutive years.
Voted "Best Bank" by the readers of Santa Cruz Sentinel, a daily publication with distribution throughout Santa Cruz County for four consecutive years.
ABOUT SANTA CRUZ COUNTY BANK
Santa Cruz County Bank, founded in 2004, is a top rated, locally owned and operated full-service community bank headquartered in Santa Cruz, California. The bank operates five branches 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 has been recognized as a top SBA lender in Santa Cruz County and in the Silicon Valley. Santa Cruz County Bank is a top USDA lender in the state of California.
Santa Cruz County Bank stock is publicly traded on the OTC marketplace under the stock symbol SCZC. Stock purchase orders may be placed through a brokerage firm or one of the Market Makers listed in the Investor Relations section of the bank's website. For more information about Santa Cruz County Bank, visit www.sccountybank.com.
SOURCE Santa Cruz County Bank
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