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County Commerce Bank, the only community bank headquartered in Ventura recognized by The Findley Reports as a “Super Premier Performing Bank” in 2012 based on 2011 operating results, today announced a 10% stock dividend for shareholders of record as of March 28, 2013. The dividend, which will be accounted for as a 10% stock split, will be distributed to shareholders on April 30, 2013. The announcement was made by Joseph D. Kreutz, President and Chief Executive Officer. Kreutz stated “As a result of the bank’s success and to commemorate our ten year anniversary, we are pleased to reward our shareholders with additional shares. Shares of County Commerce Bank stock recently traded at $16.10 per share. The decision by the Board of Directors to authorize a stock dividend reflects our confidence in the solid financial foundation we have established and our positive outlook for the bank’s future.” Kreutz added, “County Commerce Bank is the largest and strongest locally owned bank in Ventura County with a proven record of success. We opened with $7.7 million in Capital and have grown steadily over the past ten years to $19 million. More importantly, that growth has been solid, prudent growth.”
Kreutz reported that assets reached $203 million at the end of 2012, the bank’s most successful year to date and in keeping with the banks strong commitment to the community, the bank had extended more than $116.7 million in loans to local individuals and businesses.
County Commerce Bank was founded by local professionals and business leaders in Ventura County. The Bank opened for business at 3260 Telegraph Road, Ventura, California in February, 2003, opened its second branch located at 2400 E. Gonzales Road, Oxnard in April, 2007 and a third branch in May 2012 at 2357-B Pickwick Drive in Camarillo. County Commerce Bank provides financial solutions for local professionals and small businesses, offering its customers state of the art technology along with a traditional, personalized banking experience.