Community Bank of Santa Maria released its second-quarter earnings report, showing a year-to-date net loss of $519,052 as of June 30. The figure compares to a net loss of $393,722 the bank posted at the same time last year.
The report also revealed the bank had increased deposits, assets, and net loans from 2009. As of June 30, total deposits for the year stood at $129.6 million, a 9 percent increase over the second quarter of 2009. Net loans were recorded at $112.9 million, a 1 percent increase over the $111.6 million reported for the same period in 2009.
Total assets for the second quarter were $144.4 million, up 7 percent from the $135.1 million reported June 30 of last year.
For more information, visit yourcbsm.org.
This article appears in Aug 19-26, 2010.