The Findley Report, which has been providing the banking industry with performance benchmarking since 1967, recognized Community Bank of Santa Maria last month by designating the bank as “Commendable Performing” for the year 2011.
In evaluating banks for recognition, The Findley Report focuses on four basic components: growth, return on beginning equity, net operating income as a percentage of average assets and loan losses as a percentage of gross loans.
Community Bank of Santa Maria President and CEO, Jim Glines, said he is proud of the bank’s outstanding performance in tough economic times. “Community Bank of Santa Maria and the local community continue to support each other. As the only locally-owned bank headquartered here in Santa Maria, we’ve been able to provide unmatched personal service and our customers have quick access to decision makers.”
Glines went on to say “the highlight in our 2011 year end financial statement was the net profit number, which was up significantly over the previous year. We believe that says a lot about our local economy and its direct reflection on a true Community Bank like ours.”
The Findley Report is published by The Findley Companies, based in Anaheim. It provides the most comprehensive financial institution analysis materials offering comparison, performance and evaluation of California’s banking industry.
Community Bank of Santa Maria opened it’s doors for business on March 1, 2001 and currently employs 46 people in three branch locations and an administrative headquarters.