Community Bank of Santa Maria released its annual earnings report on Jan. 31, reporting gains in profits, total assets, deposits, and net loans for 2010.
The bank reported total assets of $152 million at year’s end, a 12.7 percent increase over the $134.9 million reported at the end of 2009. Deposits increased 13.9 percent, from the $119.6 million reported in 2009 to $136.2 million at Dec. 31, 2010. The balance sheet showed net loans at $111.1 million, a 0.2-percent increase over the $110.9 million at the end of 2009.
The bank also showed a profit of $25,629 at Dec. 31, 2010, compared with a loss of $791,144 at the end of 2009.
For more information, visit yourcbsm.com.
This article appears in Feb 3-10, 2011.