Record Year at Santa Cruz County Bank • Three Single Moms Earn ‘Live Your Dream’ Awards, By Kate McGuire

COMMUNITY NEWS

Record Year at Santa Cruz County Bank

Santa Cruz County Bank, on the cusp of 18 years in business, reported earnings for 2021 was a record $21.3 million, 21 percent more than in 2020.

Fourth quarter net income was $4.7 million, up from $4 million in that quarter a year ago.

Pretax, pre-provision net earnings for 2021 exceeded 2020 by $9.4 million.

Santa Cruz County Bank President and CEO Krista Snelling said, “We recorded an incredible year of growth as evidenced by double-digit percentage increases, comparing

[Santa Cruz County Bank] has five branches ... including Aptos and Capitola and Scotts Valley, one in Cupertino and one in Monterey, plus online banking. The bank plans to open a Salinas branch by the third quarter of this year.

2021 to 2020, in assets, loans, deposits and net income, all of which set new historical milestones for Santa Cruz County Bank.”

Our amazing employees logged more 500 hours in community volunteer hours in 2021.

Bank staff supported business owners, providing guidance on the PPP forgiveness process to help position them for success.

The bank opened in February 2003.

The bank has five branches in Santa Cruz County, including Aptos and Capitola and Scotts Valley, one in Cupertino and one in Monterey, plus online banking. The bank plans to open a Salinas branch by the third quarter of this year.

Highlights for the quarter ending Dec. 31, 2021 included: • Assets of $1.7 billion, up 20% • Total gross loans (excluding PPP) of $1.11 billion, up 21%,

Deposits of $1.5 billion, up 25%. The bank ranked 4th in overall deposit market share in Santa Cruz County, 2nd in Santa Cruz and 3rd in Watsonville based on FDIC once a year data as of June 30. • Basic earnings per share of $1.11 and $5.01 for the three and twelvemonth periods ended Dec. 31, 2021, respectively. • Net interest margin was 3.78% for the fourth quarter of 2021, as compared to 4.04% in the trailing quarter and 4.08% in the same quarter of 2020.

Santa Cruz County Bank raised more than $8,000 for Second Harvest Food Bank’s annual Holiday Food & Fund Drive, creating 32,381 meals for local families and children. From left: Santa Cruz County Bank, Kim Luke, community engagement & communications specialist; Sham van der Voort, EVP chief operations officer; Jon Sisk, EVP regional president/chief banking officer; Krista Snelling, president & CEO; with Richelle Noroyan, corporate & community relations director, Second Harvest Food Bank.

• For the quarters ended Dec. 31 and

Sept. 30, return on average assets was 1.09% and 1.30%, respectively, and the return on average tangible equity was 11.85% and 14.10%, respectively. • Efficiency ratio was 45.40% for the fourth quarter of 2021, compared to 42.63% in the trailing quarter and 49.45% in the same quarter of 2020. • All capital ratios were above regulatory requirements for a well-capitalized institution with a total risk-based capital ratio of 14.89 percent. • Continued strong credit quality, with nonaccrual loans totaling $376,000. •••

Fourth Quarter

In the fourth quarter, the loan loss reserve was boosted $200,000 due to growth in the non-PPP sector loans and factors associated with the Omicron variant. n

Three Single Moms Earn ‘Live Your Dream’ Awards

By Kate McGuire

Three single moms will receive Live Your Dream awards from Soroptimist International of Capitola-by-the-Sea on March 22.

Winners are Silvia, of Santa Cruz, Mary, of Santa Cruz, and Gigi of Hollister. At their request and for their protection, the women have asked that only their first names be used.

Each receives a check for $2,000 that can be used for any purpose that enables them to continue their education, including rent, medical bills, childcare and car repairs.

Women who are enrolled in or have been accepted into a bachelor’s or technical training program, are the heads of their households and have a demonstrated need are eligible to apply for a Live Your Dream award.

Sylvia is mother of a 5-and a 7-year-old, and she works full-time while going to school to pursue a degree in psychology. A former foster child, she wants to work with troubled teens, minorities and foster youth when she completes her studies.

“Being a young mother of two and a former foster

Silvia Mary Gigi

youth has driven me to want to help children all over that are in need of love, support and help,” she wrote in her application essay. “Obtaining my B.A. in psychology will help me meet the California requirements needed in order to become a youth counselor.”

Mary is a single mother of three—one who is now an adult, another who is 10 and the youngest a 2-yearold. She also is studying psychology and for a human services certificate. Her goal is to work with those who have experienced domestic violence and drug and alcohol issues.

“Not only do I hope to be able to find placement in the workforce to help others in need like myself,

I also hope to teach my children that through dedication and hard work they can achieve dreams and goals of their own later in life,” she wrote. “Ultimately, I plan to take my education goals and put them to work in the psychology field and serve the community in any way that I can by obtaining these degrees.” Gigi, who has a 6-year-old son, wants to be an

X-ray or Echo technician. Meanwhile, she’s working 50 hours a week and going full-time to her classes in health and science.

“I am so excited to continue learning and growing in radiology,” she wrote. “I never give up on anything I do and that is the biggest lesson I am trying to teach my son.” n

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Soroptimist International of Capitola-by-the-Sea is a global volunteer organization that provides women and girls with access to the education and training they need to achieve economic empowerment. For more information, visit www. best4women.org.