James D. Glines, Chief Executive Officer
SANTA MARIA, CA – January 21, 2014 – The year-end earnings for 2013 for Community Bank of Santa Maria have been announced by Jim Glines, Chief Executive Officer, and Janet Silveria, President and Chief Financial Officer. They report that the bank saw significant growth, most notably in total deposits and total assets. Other key barometers such as total net loans and net profits also showed increases over the previous year.
“We continue to see solid increases in our local economy and continue to enjoy a great customer base in the communities we serve,” said Silveria. “Our growth is a reflection of our customers’ satisfaction with Community Bank of Santa Maria. Through these changing times, we continue to be a true hometown ‘Main Street’ community bank.”
At December 31, 2013, total deposits of the bank were $169.8 million which represents a 12% increase from the $151.7 million reported at December 31, 2012. Total Net Loans of the bank were $106.2 million on December 31, 2013; a 3% increase over the $103.1 million one year earlier
Total Assets of the bank were $189.4 million on December 31, 2013, which is an 10.9% increase over the $170.8 million on December 31, 2012. Net profits for the bank for the year ended December 31, 2013 were $781,214, which represents a 3.9% increase over net profit for the year ended December 31, 2012, which was $751,884.
Community Bank of Santa Maria opened for business on March 1, 2001 and presently has three branches; two in Santa Maria and one in Lompoc, which operates as Lompoc Community Bank, a division of Community Bank of Santa Maria. The bank has 47 employees.