Camarillo Bank’s Income Rises in 1st Quarter
Camarillo Community Bank announced a first-quarter net income of $225,736, or 16 cents a share, compared to $208,160, or 15 cents per share earned in the first quarter of last year.
The bank paid a 10-cent-per-share cash dividend in April.
Douglas M. Shearer, bank president and chief executive officer, said increased economic activity in the county has resulted in strong loan growth for the bank. Gross loans outstanding increased by more than $3 million, or 8%, over the past year to a total of $40.9 million as of March 31, officials said.
The bank’s total assets as of March 31 were $76.1 million, and shareholder’s equity exceeded $7 million. Total assets increased $4.9 million, or 6.9%, from year-ago levels.
Total deposits at the end of the first quarter were $64.5 million, an increase of 6.1% from March 31, 1995.
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