Personal   Business   Branch Locations   About Us   News   Contact Us
Home

Press Releases
   2014
   2013
   2012
   2011
   2010
   2009
   2008
   2007

News Articles


SCVBank Reports Third Quarter Results

  • Solid Operating Profit
  • Improving Capital Ratios
  • Highly Liquid

SANTA PAULA, CA. October 26, 2012 – Santa Clara Valley Bank (SCVBank; OTC BB: SCVE) Chairman of the Board, Scott K. Rushing, today announced the Bank's 2012 third quarter results.

SCVBank recorded a net profit from operations of $157,000 for the third quarter of 2012 compared to a net profit of $140,000 for the third quarter of 2011. Year to date earnings from operations through September 2012 was $534,000 versus $384,000 for the same nine month period in 2012. The improvement in earnings in the third quarter 2012 was largely due to the improvement in non interest income and the reduction of non interest expenses.

A modest provision for loan losses of $75,000 was booked in the third quarter of 2012 to ensure a strong allowance for loan losses.

SCVBank continues to maintain a strong capital position with a Tier 1 Leverage Capital Ratio of 10.95%, up from 10.81% at December 31, 2011.

Liquidity continues to be very strong as cash and investments total 44% of total assets at quarter end.

President Cheryl Knight commented that stronger results reflect continued improvement in asset quality and management of expenses. She added that positive trends are expected to continue under the leadership of Paul Alexander as the Bank's Chief Credit Officer.

PDF Third Quarter 2012 Financial Results - (PDF)

Founded in 1998, SCVBank currently operates three branches in Santa Paula, Fillmore, and Valencia. Under its stock symbol of SCVE.OB, SCVBank's stock is traded through McAdams Wright Ragen, Raymond James & Associates Inc., and Monroe Securities. The Bank's web site is www.SCVBank.com.

Santa Clara Valley Bank Corporation Headquarters
901 East Main Street
Santa Paula, California 93060
805 525-1999

Statements concerning future performance, developments or events concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, the effect of interest rate changes, and the ability to control costs and expenses, the impact of consolidation in the banking industry, financial policies of the United States government, and general economic conditions.

 
Security || Privacy Disclosure Notice || Mission Statement

© Copyright, Santa Clara Valley Bank. All Rights Reserved.