James D. Glines, Chief Executive Officer
SANTA MARIA, CA – April 16, 2014 – Community Bank of Santa Maria saw earnings, assets and deposits all increase by double-digit percentages in the first quarter of 2014, compared to the first quarter of 2013. Jim Glines, the bank’s Chief Executive Officer, and Janet Silveria, President and Chief Financial Officer, made the financial announcement recently.
Earnings were the highlight of the report with 1st Quarter earnings reported at $201,818 which represents a 23.3% increase over the $163,652 reported at March 31, 2013. Total Assets of the bank were $191.3 million, which is a 10.0% increase over the $173.9 million reported at March 31, 2013. Total deposits of the bank were $171.4 million at March 31, 2014; a 10.8% increase over the $154.7 million on March 31. 2013.
Additionally, Gross Loans were up 4.5% from the $104.2 million reported at March 31, 2013 to $108.9 million on March 31, 2014.
Both Glines and Silveria expressed their gratitude to the customers of the areas the bank serves. Silveria said: "Your bank has increased deposits, loans, and earnings across the board. Our South Broadway Office, our Oak Knolls Office and our division, Lompoc Community Bank, have all contributed to this success."
Glines added "Our loan doors remain open as we seek quality commercial, construction, and development loans. Please stop by one of our conveniently located branches where the coffee and the smiles are always on."
Community Bank of Santa Maria opened for business on March 1, 2001 and presently employs 47 people.