SANTA CRUZ — Santa Cruz County Bank announced that its Board of Directors has declared a quarterly cash dividend in the amount of $0.05 per share payable on April 11, 2016 to shareholders of record as of the close of business on March 30, 2016. This is the twelfth consecutive quarterly cash dividend declared by the twelve-year-old Santa Cruz County Bank.
The Bank reported $5.4 million in net income for the year ended December 31, 2015, an increase of 24%, compared to the previous year. The book value per share of common stock on Dec. 31, 2015 was $20.47, an increase of $2.43 or about 13.5% from Dec. 31 2014.
Shareholders’ equity grew to $44.1 million, a $5.5 million increase compared to the prior year. The Bank was named one of 50 best performing companies on OTCQX based on total return and growth in average daily dollar volume in 2015.
Santa Cruz County Bank (OTCQX: SCZC), founded in 2004, is a locally owned and operated community bank with offices located in Aptos, Capitola, Santa Cruz, Scotts Valley and Watsonville. For the past nine years, the Bank’s SBA Department has been recognized as a top SBA lender in Santa Cruz County and in the Silicon Valley.
For more info, visit www.sccountybank.com.