Santa Cruz County Bank reported earnings results for the third quarter ended September 30, 2009. For the quarter, the company reported net income after tax of $42,872, a 35% decrease compared to $66,243 for the quarter-ended June 30, 2009 and net loss after tax of $580,620 for the third quarter of 2008. On a quarter to quarter basis, comparing September 30, 2008 to September 30, 2009, the Bank's after tax net income increased by $623,492 or 107%. Net interest income improved to $2.6 million compared to $2.5 million for the quarter-ended June 30, 2009 and $2.3 million for the quarter ended September 30, 2008. On a quarter to quarter basis, comparing September 30, 2008 to September 30, 2009, the bank's net interest income increased $317,241 or 14%. Net income before taxes was $85,129 compared to net loss before taxes of $1 million for the same quarter a year ago.

Santa Cruz County Bank announced unaudited earnings results for the second quarter ended June 30, 2009. The company reported net income after taxes of $66,243 against restated net income after taxes of $195,239 last year. During the quarter ended June 30, 2009, the bank's net income was constrained due to an extraordinary expense of $111,211 for a FDIC special assessment and by the increase in allocation to loan loss reserve due to the $13.2 million spike in quarterly loan growth. Interest income was $2,870,110 against restated interest income of $2,713,553 last year. Net interest income was $2,484,962 against restated net interest income of $1,986,719 last year. Net income before taxes was $107,631 against Net income before taxes net income before taxes of $341,766 last year. On a quarter to quarter basis, comparing June 30, 2008 to June 30, 2009, the bank's net interest income increased by $498,243 or 25%.

Santa Cruz County Bank reported earnings results for the first quarter ended March 31, 2009. The Bank reported net income of $22,509 for the quarter-ended March 31, 2009 compared to $217,950 reported for the quarter-ended December 31, 2008. On a year to year basis, comparing March 31, 2008 to March 31, 2009, the Bank's net income decreased $184,607. Net interest income was $2.3 million for the quarter-ended March 31, 2009 compared to $2.4 million reported for the quarter-ended December 31, 2008. The decrease in the Bank's net interest income, the largest contributor to pre-tax income, is due to the decline in higher interest earning assets mostly represented by a decline in gross loans. On a year to year basis, comparing March 31, 2008 to March 31, 2009, the Bank's net interest income increased by $313,651 or 16%. Interest income was $2,767,329 against $3,046,683 for the same period last year. Net income before taxes was $38,773 against $376,381 for the same period last year.