Santa Cruz County Bank Reports Earnings For the Quarter Ended June 30, 2023

SANTA CRUZ, Calif., July 25, 2023 /PRNewswire/ — Santa Cruz County Bank (the “Bank”,  OTCQX: SCZC), with assets of $1.75 billion, is a top-rated community bank headquartered in Santa Cruz County. Today, the Bank announced unaudited earnings for the quarter ended June 30, 2023. Net income for the Bank for the second quarter of 2023 was $8.3 million, an increase of 31% from $6.4 million over the second quarter in the prior year and down 6% from $8.9 million in the prior quarter. Basic and diluted earnings per share in the second quarter of 2023 both improved over the prior year comparative quarter by $0.24. Basic and diluted earnings per share in the second quarter of 2023 decreased over the prior quarter by $0.06 and $0.07, respectively. Decreases from the prior quarter primarily reflected pressure from the rising cost of funds.

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