Santa Cruz County Bank Declares Quarterly Cash Dividend Payment to Shareholders

SANTA CRUZ, Calif., Dec. 17, 2019 /PRNewswire/ -- Santa Cruz County Bank (OTC Pink: SCZC), with assets over $1 billion, is a top rated community bank headquartered in Santa Cruz County. Today the bank announced its Board of Directors' declaration of a quarterly cash dividend in the amount of $0.075 per share. The dividend is payable on January 10, 2020 to shareholders of record as of the close of business on December 30, 2019. This is the twenty-seventh consecutive quarterly cash dividend declared by the bank. In addition to cash dividends, a 10% stock dividend was granted to shareholders in November 2017.

The Bank reported $3.0 million in net income for the third quarter ended September 30, 2019, an increase of 13%, compared to the same quarter in 2018. Return on average equity was 15.64% for the quarter ended September 30, 2019. The book value per share of Santa Cruz County Bank's common stock at September 30, 2019 was $31.69, compared to $26.72 as of June 30, 2018. Shareholders' equity grew to $77.8 million, a 19% or $12.4 million increase compared to September 30, 2018.

On October 18, 2019, Santa Cruz County Bank and Lighthouse bank completed the previously announced Agreement and Plan of Reorganization and Merger. As a result, Santa Cruz County Bank's asset size is over $1 billion. The bank's enhanced lending capacity and extensive knowledge in USDA and FSA lending will benefit agricultural businesses in Salinas and the Monterey Peninsula where the bank has announced its expansion.

ABOUT SANTA CRUZ COUNTY BANK
Santa Cruz County Bank was founded in 2004. It is a top-rated, locally-owned and operated, full-service community bank headquartered in Santa Cruz, California. The bank has seven branches–Aptos, Capitola, Cupertino, Santa Cruz (2), Scotts Valley and Watsonville. Santa Cruz County Bank is distinguished from "big banks" by its relationship-based service, problem-solving focus, and direct access to decision makers. The bank is a leading SBA lender in Santa Cruz County and Silicon Valley, and a top USDA lender in the state of California. As a full-service bank, Santa Cruz County Bank offers competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction lending, agricultural loans, SBA and USDA government guaranteed loans, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payment, and treasury management. True to its community roots, Santa Cruz County Bank has supported regional well-being by actively participating in and donating to local not-for-profit organizations.

Santa Cruz County Bank stock is publicly traded on the OTC marketplace under the symbol SCZC. Stock purchase orders may be placed online, through a brokerage firm, or through Market Makers listed in the Investor Relations section of the bank's website. For more information about Santa Cruz County Bank, visit www.sccountybank.com.

NATIONAL, STATE, AND LOCAL RATINGS AND AWARDS
S&P Global Top 100 Community Banks: Santa Cruz County Bank ranked 35^th in the nation out of nearly 3,000 banks with assets under $2 billion based upon 2018 performance. The Bank has ranked in the Top 100 Community Banks by S&P Global for three consecutive years.

Financial Management Consulting (FMC) Group: Santa Cruz County Bank has ranked in FMC's top ten banks in California for the past four years.

The Findley Reports, Inc.: The Bank has received the top ranking of Super Premier by Findley for nine consecutive years.

Bauer Financial Reports, Inc.: Santa Cruz County Bank is rated 5-star "Superior" based upon its financial performance.

American Banker Magazine: Santa Cruz County Bank ranked 12^nd out of 601 institutions in American Banker Magazine's "Top Performing 200 Community Banks & Thrifts in the United States" based upon 3-year average return on equity. The Bank ranked 4^th out of 26 California banks. The Bank has ranked in the Top 200 Community Banks in the United States for six consecutive years.

The Bank ranks 8^th in the Silicon Valley for the volume of SBA loans lent to Silicon Valley businesses for the SBA's 2018 fiscal year.

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SOURCE Santa Cruz County Bank