87.3 F
San Fernando
Friday, Feb 23, 2024

Bank of Santa Clarita Posts Asset, Deposit Growth

Bank of Santa Clarita reported assets grew 75 percent to $39.1 million and deposits rose nearly threefold to $26.6 million versus year end in the second quarter of 2005. The bank also said its loans as of June 30 rose to $24.3 million versus $6.4 million at the end of last year. Quarterly revenue rose 70 percent to $377,000. The bank, which launched late last year, has cut its net loss to $457,000, a 15 percent reduction compared to the first quarter of 2005, officials said. Bank of Santa Clarita recently requested approval for a secondary offering of up to $7 million in additional capital.

Featured Articles

Related Articles