Net Earnings Improve at Bank of Santa Clarita

Bank of Santa Clarita reported net earnings of $111,000, or $0.05 per share, on interest income of $2.15 million for the quarter ending June 30. For the same period a year ago the bank reported earnings of $90,000 on interest income of $1.94 million. The bank also reported significant growth in deposits. For the second quarter the bank reported deposits of $131 million compared to $105 million for the same quarter last year. At June 30, shareholders’ equity was $20.2 million and the Bank’s total risk-based regulatory capital ratio was 15.86 percent, exceeding the “well-capitalized” level of 10 percent prescribed under regulatory requirements.