SCVBank Reports Second Quarter Results

August 03, 2012
Santa Paula News

Santa Clara Valley Bank (SCVBank;OTC BB: SCVE.OB) today announced its 2012 second quarter results.

SCVBank recorded a net profit from operations of $196,000 for the second quarter of 2012 compared to a net profit of $122,000 for the second quarter of 2011.  Year to date earnings through June 2012 was $377,000 versus $262,000 for the same six month period in 2012. The improvement in earnings in the second quarter 2012 was largely due to the improvement in non interest income and the reduction of non interest expenses.  

SCVBank continues to maintain a strong capital position with a Tier 1 Leverage Capital Ratio of 11.08%, up from 10.81% a year ago.  

Liquidity continues to be very strong as cash and investments total 41% of total assets at quarter end.

President Cheryl Knight commented that stronger results reflect continued improvement in asset quality and management of expenses.  She added that positive trends will be further strengthened with the addition of Paul Alexander as the bank’s new Chief Credit Officer.

Founded in 1998, SCVBank currently operates three branches in Santa Paula, Fillmore, and Valencia.  Under its stock symbol of SCVE.OB, SCVBank’s stock is traded through McAdams Wright Ragen, Raymond James & Associates Inc., and Monroe Securities.  The Bank’s web site is www.SCVBank.com.





Site Search

Tel: 805 525-6048  marydeines@roadrunner.com
E-Subscribe

Subscribe

E-SUBSCRIBE
Call 805 525 1890 to receive the entire paper early. $50.00 for one year.

webmaster