Montecito Bank & Trust reported Monday that it ended the second quarter with $4.4 million in net profit, up 1 percent from a year ago.

“We ended the quarter with a strong total risk-based capital ratio of 12.49 percent, well above the 10 percent regulatory minimum to be considered well-capitalized,” President/CEO Janet Garufis said.

Total demand deposits have grown 20 percent year over year, and total deposits were up 3 percent from $825.7 million to $851.7 million. Assets grew from $960.8 million to $984 million, a 2 percent growth from a year ago. Soft loan demand continues to impact the bank’s gross loans, which were $524.7 million at quarter end, down from $554.1 million a year ago.

Garufis said the bank’s solid financial performance and strong liquidity position will ensure that it continues to be well-positioned to make loans to businesses and consumers in all the markets it serves.

Montecito Bank & Trust, an S Corporation, is a locally owned community bank founded in 1975 with branch offices located in Santa Barbara, Goleta, Solvang, Montecito, Carpinteria, Ventura and Westlake Village.

— Carolyn Tulloh is director of marketing for Montecito Bank & Trust.