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Community Bank of Santa Maria
(805) 922-2900
jsilveria@yourcbsm.com
(SANTA MARIA)- The year-end earnings for Community Bank of Santa Maria have been announced by Janet Silveria, President and Chief Executive Officer. The figures indicate that the bank saw significant growth, most notably in net income, total deposits, and total assets.
Net Income for the bank for the year ended December 31, 2015 was $1,011,425, which represents a 37.8% increase over Net Income for the previous year. According to Silveria, "it is rewarding to report that kind of increase to our shareholders. We will continue to focus on growth in commercial and construction lending to help drive earnings in 2016".
At December 31, 2015, Total Deposits of the bank were $215.2 million which represents an increase of 13.1% over the $190.2 million reported at December 31, 2014. Total Assets at December 31, 2015 were $236.8 million, compared to $210.9 million at December 31, 2014, for an increase of 12.3%. Net Loans of the bank were $118.7 million on December 31, 2015; a 2.8% increase over the $115.5 million reported one year earlier.
"2015 was a great year for Community Bank of Santa Maria" said Silveria. "In addition to the double digit growth in net profits, we also celebrated the opening of our new headquarters at 2739 Santa Maria Way. The community has been so supportive, and we're proud to be called their 'hometown' bank."
Community Bank of Santa Maria opened for business on March 1, 2001 and has four branches; three in Santa Maria and their division, Lompoc Community Bank, in Lompoc. The bank has 60 employees.
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Community Bank of Santa Maria issued this content on 2016-01-07 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-08 23:38:05 UTC
Original Document: https://www.yourcbsm.com/Portals/CommunityBankSantaMaria/PDFs/Press_Rel_4Q_2015.pdf
