California Oaks State Bank Assets Rise $6.5 Million
California Oaks State Bank announced total assets of $17.28 million at the end of the second quarter, an increase of $6.5 million from the end of March.
Bank officials said 1,400 accounts were originated since it opened for business Feb. 9. The bank had total deposits as of June 30 of $12.58 million, an increase of $6.8 million from the end of the first quarter. Gross loans outstanding as of June 30 were just under $5 million.
“The bank continues to exceed its original expectations with respect to its growth,” said Anthony D. Kourounis, president and chief executive. “This growth in deposits and loans that the bank has added in less than five months is a reflection of the community’s strong desire for a hometown bank.”
The bank opened at 50 W. Hillcrest Drive in Thousand Oaks after raising $5.7 million in start-up capital from 450 local residents.
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