Bank of Santa Clarita Sees Improvement

Bank of Santa Clarita reported assets and new loans all rose in the fourth quarter of 2005 compared to the like period last year. The bank, which opened its doors in the fourth quarter of 2003, reduced its losses in the period, reporting a net loss of $313,000 for the quarter including a provision of $201,000 for unfunded loan commitments. The bank had no non-performing or delinquent loans as of Dec. 31. The net loss compares with a loss of $797,000 in the comparable period last year. Assets in the fourth quarter totaled $62.6 million versus $22.3 million as of Dec. 31, 2004. New loans for the fourth quarter totaled $14 million.