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OCB Bancorp reports strong fourth quarter earnings

By   /   Thursday, February 2nd, 2017  /   Comments Off on OCB Bancorp reports strong fourth quarter earnings

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OCB Bancorp, parent company of Ojai Community Bank and its divisions — Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank – reported net income of $1.28 million in the fourth quarter of 2016, an increase of $361,000 or 39 percent over 2015.

Total loans finished the year at $209 million, an increase of $33 million or 18.5 percent from the year prior. Earnings per share were 59 cents, resulting in an increased book value of $7.58.

Return on equity increased to 8.1 percent in 2016.

“As the only community bank headquartered in Ventura County, we are in a prime position to provide customers with the kind of local service community banking can offer and for this and many other reasons, we are experiencing very positive continued growth,” Ojai Community Bank President and CEO Dave Brubaker said in a news release.

Shares remained at $8.15 on Feb. 2.

• Contact Alex Kacik at [email protected]

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