Community Bank of Santa Maria continues to be on solid financial footing, as evidenced by the Bank’s 6 month earning statement, released this week by President and CEO Jim Glines.
Glines reported that net profits for the bank on June 30, 2011 were $194,643 compared to $323,298 net profit reported at June 30, 2012. This represents an increase of 66.1% and is a strong number considering the general condition of the economy and truly reflects the loyal customer following your Bank enjoys.
Total Assets for your Bank were $153,680,580 at June 30, 2011 and were up 5.42% at June 30, 2012 or $162,010,850. Total net loans decreased from $110,918,760 at June 30, 2011 to $103,976,362 or 6.26%. Deposits, on the other hand increased from $135,641,171 at June 30, 2011 to $143,272,725 at June 30, 2012. That represents an increase of 5.63%
“Again, these impressive numbers that your bank is able to report is a true reflection of the success of Santa Maria Style Banking in our bank’s trade area”, remarked Glines. “We genuinely appreciate the great support we receive from our valued customers.”
Community Bank of Santa Maria opened its doors for business on March 1, 2001 and
employs 47 people.