Ed. Note: The following article is a news release provided by the Bank of Santa Clarita.

Bank of Santa Clarita announced record profitability for the first half of 2015 as it earned $658,000.

The earnings exceeded exceeding the net income reported in the first half of 2014 by more than 18 percent, which is the best two-quarter performance in the Bank’s history.

The Bank reported that its loans totaled $173.0 million at June 30, 2015, a growth of $7.9 million or 5% in the first half of 2015.

In addition, the Bank saw an increase in total deposits from $179.9 million to $183.6 million, which included an increase of $6.8 million or 12.1% in noninterest-bearing balances.

Finally, the Bank continues to experience very good credit quality in its loan portfolio, as nonaccrual loans as of quarter-end totaled approximately $255,000, or less than 0.15% of total loans.

“We are very pleased with our second quarter operating results, as the Bank posted a continuing upward trend in net earnings. Additionally, we remain intensely focused on growing loans and core deposits to increase net interest income,” stated Frank Di Tomaso, Chairman and Chief Executive Officer. He continued, “As we look ahead, our priorities remain focused on strengthening our core business lines, efficiently growing revenues and managing operating costs, meeting regulatory requirements, and producing improving returns for our shareholders.”

At June 30, 2015, shareholders’ equity totaled $24.8 million and the Bank’s total capital ratio was 13.97%, exceeding the “well-capitalized” level of 10% which is prescribed in the applicable capital regulations.

The Bank also continues to maintain substantial liquidity positions, retaining significant balances of liquidity on its balance sheet as well as readily available collateralized borrowings and other potential sources of liquidity.

Founded in October 2004, Bank of Santa Clarita is the only full service commercial bank headquartered in the Santa Clarita Valley and is focused on the needs of the community and its businesses.

The Bank promotes face-to-face interaction with clients, which in turn leads to deeper relationships overall.

The Bank provides local, experienced decision-making and the personalized service that growing businesses need on a daily basis.

Bank clients have direct access to executive management and professional staff members to address their credit requirements from commercial lines of credit to SBA loans to commercial real estate and other commercial loans, and also technology-based services that include online bill-paying, remote capture depositing, check imaging and initiating online wire transfers, among other cash management facilities.

Bank of Santa Clarita is proud of the fact that the Bank has served the Santa Clarita Valley’s residents, including individuals, small businesses and non-profit organizations, for more than ten years, and cherishes the relationships they have made with many neighbors, and invites any of those in the community who do not yet know the Bank well to visit, and together the Bank can continue to build an even more vibrant community.