Camarillo Bank Reports 3rd-Quarter Income
Camarillo Community Bank has announced a third-quarter net income of $250,443 or 16 cents a share.
For the first nine months of the year, the bank had net income of $712,327 or 45 cents per share, compared to 46 cents per share earned last year.
The figures reflect the 13.5% stock dividend paid in July. The bank also has paid two cash dividends this year totaling 25 cents per share, an increase from the 20 cents per share paid in 1995.
Douglas M. Shearer, president and chief executive officer, said the bank’s earnings, combined with the opening of two new Ventura County offices this year, reflect the increased economic expansion in the area.
Bank loans have increased by more than $7.5 million over the past 12 months, Shearer said.
The bank’s total assets as of Sept. 30 were $76.9 million, and shareholders’ equity was in excess of $7.4 million, officials said. Total deposits at the end of the third quarter were $68.9 million.
The bank has full-service branches in Camarillo and Westlake Village, and loan production offices in Thousand Oaks and Moorpark.
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