Camarillo Bank Reports Net Income of $502,000
Camarillo Community Bank announced a net income of $502,000, or 31 cents per share, for the first six months of the year, compared to $462,000, or 29 cents a share, for the first half of 1996.
Outstanding loans increased by $3.3 million or 7.5% over the past year, to a total of $47.9 million as of June 30. Bank president and chief executive officer Douglas M. Shearer said the increase in loans and continued expense control were the biggest factors in the bank’s profitability.
Camarillo Community Bank’s total assets as of June 30 were $84.6 million, an increase of $7.5 million or 9.7% over a year ago. Total deposits at the end of the quarter were $76.4 million, up 10% from June 30, 1996.
The bank, headquartered in Camarillo, has a full-service branch in Westlake Village and loan-production offices in Thousand Oaks and Moorpark.
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