SCZC Q4 net income after taxes up

Santa Cruz County Bank, or SCZC, which offers deposit and lending solutions for businesses and individuals, has reported that net income after taxes for the fourth quarter ended December 31, 2012 was $848,959, or $0.44 per share, compared to $674,084, or $0.35 per share, for the fourth quarter ended December 31, 2011.

Net interest income for the fourth quarter ended December 31, 2012 was $3.45 million, compared to $3.02 million for the fourth quarter ended December 31, 2011.

Net income after taxes for the year ended December 31, 2012 was $2.84 million, or $1.47 per share, compared to $2.43 million, or $1.27 per share, for the year ended December 31, 2011.

Net interest income for the year ended December 31, 2012 was $13.32 million, compared to $12.2 million for the year ended December 31, 2011.

President and CEO David Heald commented, "Our consistently strong financial performance, which has led to positive ratings and our solid reputation, continues to resonate within our community and generate new customer relationships. As a result, we achieved a 12% deposit growth and more significantly a loan growth of 18%, in what remains an increasingly competitive lending environment."