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OCB Bancorp reports strong third quarter

By   /   Wednesday, November 25th, 2015  /   Comments Off on OCB Bancorp reports strong third quarter

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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.

• Contact Alex Kacik at [email protected]

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