Group Financial institution of Santa Maria’s fourth-quarter report exhibits vital development
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Group Financial institution of Santa Maria’s earnings report for the interval ending Dec. 31, 2021, confirmed development in internet revenue, primary earnings per share, complete deposits and complete property.
Janet Silveria, president and chief government officer of Group Bancorp of Santa Maria, the financial institution’s mum or dad firm, mentioned internet revenue elevated 29% from $2.209 million at Dec. 31, 2020, to $2.850 million on the shut of 2021.
Primary earnings per share elevated from $1.02 in 2020 to $1.32 in 2021, Silveria mentioned.
Whole deposits elevated 23%, from $307.6 million at Dec. 31, 2020, to $378.2 million at Dec, 31, 2021, whereas complete property elevated 22%, from $338.8 million to $415.0 million throughout the identical interval.
Web loans decreased 10.6%, from $236.6 million at Dec. 31, 2020, to $211.4 million at Dec. 31, 2021.
Silveria defined that “the financial institution participated within the Paycheck Safety Program and funded greater than $81 million in loans to over 600 companies within the Santa Maria Valley. As these loans are shortly qualifying for forgiveness, the Small Enterprise Administration is paying off the loans.”
After adjusting for these, the financial institution’s internet loans elevated 4.5% from $193.2 million to $201.9 million.
“The financial institution skilled vital development in 2021, and we’re happy with our skill to proceed to supply a return to our shareholders in addition to worthwhile assist and monetary providers to our group,” Silveria mentioned.
She famous the financial institution celebrated its twentieth anniversary in 2021 by giving $20,000 in donations to native nonprofit organizations nominated by prospects.
Group Financial institution of Santa Maria opened for enterprise on March 1, 2001, and at present employs 60 folks in two areas in Santa Maria.
