Santa Cruz County Bank Declares 10% Stock Dividend Payment to Shareholders

Santa Cruz County Bank, with assets of $1.70 billion, is a top-rated community bank headquartered in Santa Cruz County. Today the bank announced its Board of Directors declared a 10% stock dividend payable on November 8, 2021 to shareholders of record as of the close of business on October 26, 2021. Cash will be paid in lieu of fractional shares based on the closing price on the record date.

Chairman William J. Hansen stated, "We are pleased to provide our shareholders with a 10% stock dividend. The Board of Directors continue to manage stock liquidity while increasing shareholder value through exceptional financial performance."

The bank reported record performance for the nine months ended September 30, 2021. Net income for the nine months ended September 30, 2021 was $16.6 million compared to $13.5 million, a 23% increase, over the same period in 2020.