The year-end earnings for Community Bank of Santa Maria have been announced by Janet Silveria, resident and CEO. The figures indicate the bank experienced significant growth, most notably in net income and net loans.

Net income for the year ending Dec. 31, 2016, was $1,227,463; representing a 21.3 percent increase over net income of $1,011,425 for the previous year-end.

Silveria said, “It is rewarding to report that kind of increase to our shareholders and customers. We will continue to focus on growth in commercial and construction lending to help drive earnings in 2017.”

Net loans of the bank were $130.5 million on Dec. 31, 2016; a 9.9 percent increase over the $118.8 million reported one year earlier.

At Dec. 31, 2016, total deposits of the bank were $227.4 million, which represents an increase of 5.7 percent over the $215.2 million reported at Dec. 31, 2015.

Total assets at Dec. 31, 2016, were $250.0 million, compared to $236.8 million at Dec. 31, 2015, for an increase of 5.6 percent.

“2016 was a great year for Community Bank of Santa Maria” said Silveria. “Loan demand really picked up, fueling the double digit growth in net income.”

Community Bank of Santa Maria opened for business on March 1, 2001, and has three branches, two in Santa Maria and their division, Lompoc Community Bank, in Lompoc. The bank has 60 employees.

— Janet Silveria for Community Bank of Santa Maria.