Santa Lucia Bancorp announced that net income after tax for the third quarter of 2009 was $143,000 compared to $349,000 reported for the third quarter of 2008, a decrease of $206,000 or 59.0%. The decrease in earnings was mainly due to the 400 basis point drop in the prime lending rate during 2008 coupled with additions to the loan loss reserve and increased FDIC insurance fees. Earnings per common share (EPS) for the third quarter of 2009 were $0.04 per diluted common share compared to $0.18 per diluted common share reported in the third quarter of 2008, a decrease of 77.8%. Net interest income decreased from $2.9 million for the third quarter of 2008 to $2.7 million for the third quarter of 2009, a decrease of $169,000 or 5.9%. This decrease was due primarily to the 1.75% decrease in the prime lending rate during the fourth quarter of 2008. Return on average assets was 0.21% and return on average equity was 2.23% against 0.55% and 6.47% respectively for the same period a year ago. Net income after tax year to date in 2009 was $611,000 compared to $1,251,000 reported year to date in 2008, a decrease of $640,000 or 51.2%. Year to date EPS for 2009 were $0.23 per diluted common share compared to $0.64 per diluted common share reported in the same period in 2008, a decrease of 64.1%. Year to date, net interest income decreased by $379,000, or 4.4%, to $8.2 million in 2009 from $8.6 million in 2008. Annualized return on average assets (ROAA) was 0.31% for the period ending September 30, 2009 compared to 0.67% in the same period in 2008. Annualized return on average equity (ROAE) was 3.17% for the period ending September 30, 2009 compared to 7.71% through September 30, 2008.

Santa Lucia Bancorp reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company's net income after tax was $237,000 compared to $382,000 reported for the second quarter of 2008, a decrease of $145,000 or 38.0%. The decrease in earnings was mainly due to the 400 basis point drop in the prime lending rate during 2008 coupled with additions to the loan loss reserve. Earnings per share (EPS) for the second quarter of 2009 were $0.09 per diluted share compared to $0.19 per diluted share reported in the second quarter of 2008, a decrease of 52.6%. Net interest income decreased from $2.790 million for the second quarter of 2008 to $2.778 million for the second quarter of 2009, a decrease of $12,000 or 0.4%. This decrease was due primarily to the 1.75% decrease in the prime lending rate during the fourth quarter of 2008. Income before income taxes for the quarter was $364,000 against $618,000 for the same quarter last year. Net income after tax for the six months in 2009 was $468,000 compared to $902,000 reported year to date in 2008, a decrease of $434,000 or 48.1%. Year to date earnings per share (EPS) for 2009 were $0.19 per diluted share compared to $0.46 per diluted share reported in the same period in 2008, a decrease of 58.7%. Year to date net interest income decreased by $210,000, or 3.7%, to $5.5 million in 2009 from $5.7 million in 2008. Annualized return on average assets (ROAA) was 0.36% for the period ending June 30, 2009 compared to 0.73% in the same period in 2008. Annualized return on average equity (ROAE) was 3.64% for the period ending June 30, 2009 compared to 8.32% through June 30, 2008. Income before income taxes for the six months period was $714,000 against $1,461,000 for the same period last year. Book value per common share was $11.16 against $11.15 for the same quarter last year.

Santa Lucia Bancorp announced unaudited earnings results for the first quarter ended March 31, 2009. Net Earnings for the quarter were $231,000 which reflects a decrease of $289,000 or 55.6% when compared to $520,000 for the same period in 2008. Earnings per common share (on a fully diluted basis) equaled $0.10 for the quarter ending March 31, 2009 compared to $0.26 for the same period in 2008. Income before income taxes decreased 58.48% to $350,000 against $843,000 reported last year. Net Interest Income for the quarter decreased $198,000 or 6.8% to $2,698,000 compared to $2,896,000 for the same period in 2008. Interest income decreased $587,000 or 14.5% for the first three months of 2009, from $4,050,000 in 2008, to $3,463,000 in 2008. This decrease was primarily due to the decrease in the net interest margin caused by a 200 basis point drop in the prime lending rate during the past twelve months as the average rate paid on interest earning assets declined from 7.28% at March 31, 2008 to 5.97% at March 31, 2009. The Company's return on average assets declined from 0.84% as of March 31, 2008 to 0.36% for the same period in 2009, which represents a 57.1% decline. At the same time return on average equity decreased from 9.52% as of March 31, 2008 to 3.61% for the same period in 2009. The primary reasons for the decrease in net earnings, return on average assets and return on average equity was the 56 basis point decrease in the company's net interest margin from 5.21% for the three months ending March 31, 2008 to 4.65% for the same period in 2009, coupled with the $240,000 addition to the loan loss provision.