Thursday, July 19 , 2018, 12:52 am | Fair 64º

 
 
 
 

Business

Strong Fourth Quarter for OCB Bank

OCB Bancorp, parent company of Ojai Community Bank, and divisions — Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank, reports strong performance for the fourth quarter ending Dec. 31, 2016.

OCB Bancorp net income was $1.282 million in 2016, an increase of $361,000 or 39 percent over 2015 results.

Return on equity increased to 8.06 percent in 2016. Through their wholly owned subsidiary, Ojai Community Bank, 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 $0.59 resulting in an increased book value of $7.58. Taking into account an average market price earnings (PE) ratio of 15 times EPS, the recent stock price of $8.65 is properly valued in the market.

Dave Brubaker, president and CEO said, “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.

"For this and many other reasons, we are experiencing very positive continued growth.”

— David Brubaker for Ojai Community Bank.

 

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