Santa Cruz County Bank - Eleventh Successive Year of Record Net Income

SANTA CRUZ, CA – January 24, 2022: Santa Cruz County Bank (OTCQX: SCZC), with assets of $1.701 billion, is a top- rated community bank headquartered in Santa Cruz County. Today the Bank announced unaudited earnings for the fourth quarter and year ended December 31, 2021. Net income for the year ended December 31, 2021 was a record $21.3 million, 21% over prior year, while fourth quarter net income was $4.7 million. Pretax, pre-provision net earnings for 2021 exceeded 2020 by $9.4 million.

Santa Cruz County Bank President and CEO Krista Snelling commented, “We recorded an incredible year of growth as evidenced by double-digit percentage increases, comparing 2021 to 2020, in assets, loans, deposits and net income, all of which set new historical milestones for Santa Cruz County Bank.

We continue to make a positive impact in the communities we serve through community engagement and as a trusted financial partner. Our amazing employees logged over 500 hours in community volunteer hours in 2021. Throughout 2021, we supported business owners as they navigated through a challenging year, providing guidance on the PPP forgiveness process to help position them for success in 2022. Santa Cruz County Bank, as a trusted partner, continues to build and strengthen relationships with local business owners. In our eighteenth year of delivering community banking at its best, we look forward to further expansion, welcoming new partnerships and clients, and the opening of our new Salinas branch by third quarter 2022.”

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Matthew Swinnerton