OCB Bancorp reports strong third quarter
The parent company of Ojai Community Bank has increased its net income 52 percent year to date for the nine months ending Sept. 30, according to OCB Bancorp’s third-quarter report.
OCB Bancorp, also the parent company of Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank, increased its total loans by $48 million from last year, totaling $160 million.
Total deposits for 2015 have also increased $27 million up to $164 million.
“Ojai Community Bank provided consistent earnings, liquidity, loan and deposit growth,” the company said in a news release.
The current share price of approximately $5.75 is about 85 percent of the $6.78 book value.
OCB celebrated the company’s tenth anniversary this year as well as surpassing $200 million in assets. Its assets totaled $12 million when the company opened in 2005.
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