Los Robles Bancorp’s Stock to Split 3-for-2
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The board of directors of Los Robles Bancorp, parent of Thousand Oaks-based Los Robles Bank, has declared a three-for-two stock split for its shareholders.
The split will apply to shareholders of record as of April 30. By the middle of May, shareholders will receive one additional share for each two shares held, and a cash payment in place of any fractional shares they own.
The net income for Los Robles Bank was $152,000 for the first quarter ending March 31. That represented an 11.8% increase over last year’s first-quarter earnings of $136,000.
Bank assets as of March 31 were $83.6 million, up 17.5% from a year ago. Net loans grew by 30.8% to $44.4 million, and total deposits passed $75.8 million, making the total 19.3% higher than in the same period last year.
Los Robles Bank has offices in Thousand Oaks, Westlake Village and Camarillo.
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