Bank of Santa Clarita Logs Significant Growth

Assets at newly established Bank of Santa Clarita grew 40 percent to over $31.2 million in the first quarter of 2005, up from $22.3 million at the close of 2004, officials reported today. The bank reported deposits and revenues doubled. Deposits increased to $18.6 million, up from $9.3 million, and revenues rose to more than $235,000 compared to $118,000 in the prior quarter. The bank added three new employees as a result of its increased business. Bank of Santa Clarita opened early in 2005.