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2016 News

November 14, 2016 

OCB BANCORP CONTINUES UPWARD TREND

VENTURA COUNTY, CA–– OCB Bancorp continues a strong path of solid performance for both the balance sheet and earnings statements for the quarter ending October 30, 2016. The growth of their market share and enhanced local economies contribute to this upward trend. Total loans have increased by $42 million, or 26%, to reach $202 million.

Net Income for the first nine months of 2016 was $851 thousand compared to $622 thousand earned during the first nine months of 2015. This represents a 37% increase. Earnings per share, year to date, were $0.37 and book value has increased to $7.35. Market value of The Bank’s stock is stable at the $7.50 level.

OCB Bancorp, a locally owned and operated holding company, was formed in September 2013 as the parent company of Ojai Community Bank, Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank (the Banks). The family of banks offers a full array of banking products and services to businesses, professionals, individuals and commercial property owners.

The Banks provide customers an alternative to big banks and their accompanying frustrations by focusing on relationship building and problem solving. The Banks are dedicated to providing exceptional personal service and access to banking decision makers. The stock is publicly available under the symbol OJCB.

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This release includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act of 1995. When the Bank uses or incorporates by reference in this release the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe,” and similar expressions, the Company intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors that are beyond our control.

This statement has not been reviewed, or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation.

Interview Contact:
David Brubaker
President & CEO, Ojai Community Bank
(805) 646-9909
dbrubaker@ojaicommunitybank.com

Media Inquiries:
Barbara Brown
BBM&D Strategic Branding
(805) 650-5555
bbrown@bbmd-inc.com

 

 

October 12, 2016 

OCB BANCORP REACHES SIGNIFICANT LOCAL MILESTONE 

VENTURA COUNTY, CA –– OCB Bancorp, parent company of Ojai Community Bank, announced today that it has reached a significant benchmark—their loan portfolio has grown to over $200 million this year. The OCB family of banks now has the largest bank portfolio of loans of any community bank headquartered in Ventura County. 

Bank President and CEO, Dave Brubaker, attributes this healthy growth to local decision-making, a relationship-oriented banking model, and a high level of trusted personal service. In addition, Ventura County is experiencing a recovering economy, increased home sales and enhanced consumer confidence. The Bank's loan portfolio has been growing at about 30 to 35% per year for the past several years.

“This is a major landmark for us,” Brubaker explains, “and may be the first time in Ventura County history (other than the Bank of A. Levy) this has been done. We expect to reach more milestones in the future as we focus on the local communities we serve. Thanks to our customers and staff, we continue to enjoy one of the strongest loan portfolios in the county. We believe that’s the result of our coordinated efforts with experienced lenders on staff to serve our customers and make a difference in our community. This personal consulting approach has helped increase total outstanding loans to reach record levels.”  

Brubaker continues, “We also have the added value of local decision-making, which is so important at a local level. With more complicated loans, we can determine immediately if we can assist those customers with their unique needs.  Our clients appreciate that we tailor loans to meet their needs.”

George Melton, Chairman of the Board of OCB Bancorp added, “Our bank’s loan growth has been significant, but we have not sacrificed quality—a critical component for us. Credit quality is a critical component to the long-term prosperity of any banking organization. Our experienced lenders do a great job ensuring the loans we make are properly structured and are of very high quality.”

The Bank's strong growth has benefited from industry consolidation and the declining service levels at larger banks. Brubaker commented, “I don’t think we will ever lose a customer over service. Both on the loan and deposit side, once our customers become part of our family, their banking frustration disappears. Because of that, we’re able to keep our clients long term.”

The OCB Bancorp’s family of banks offer a full array of banking products and services to businesses, professionals, individuals and commercial property including construction, land and real estate development loans, loans for business equipment, tenant improvement, and much more.  

OCB Bancorp, a locally owned and operated holding company, was formed in September 2013 as the parent company of Ojai Community Bank, which also operates divisions under the trade names of Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank. 

The Banks provide customers an alternative to big banks and their accompanying frustrations by focusing on relationship building and problem solving. The stock is publicly available under the symbol OJCB.

### END OF RELEASE ###

This release includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act of 1995. When the Bank uses or incorporates by reference in this release the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe,” and similar expressions, the Company intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors that are beyond our control.

This statement has not been reviewed, or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation.

Interview Contact:
David Brubaker
President & CEO, Ojai Community Bank
(805) 646-9909
dbrubaker@ojaicommunitybank.com

Media Inquiries:
Barbara Brown
BBM&D Strategic Branding
(805) 650-5555
bbrown@bbmd-inc.com

 

 

August 22, 2016 

OCB BANCORP REPORTS INCREASED CAPITAL

OJAI, CALIF.—OCB Bancorp, parent company of Ojai Community Bank, announced it has raised additional funds for the Bank by the issuance of $3 million in subordinated notes to certain directors to supplement further growth, as existing growth rates continue at strong levels. The Bank has experienced positive long-term expansion; this capital will fund continued growth.

“In this period of low interest rates, banks must expand to become more profitable,” stated Dave Brubaker, President and CEO.  “At $250 million in assets, we are just now entering our stride.”  

Banks are regulated to maintain certain capital ratios, so as a bank grows quickly, it must supplement retained earnings or capital, until earnings catch up with growth.  

“During this extended period of low rates, many corporations have found it advantageous to issue corporate bonds instead of common stock to assist capital growth.” Brubaker explains, “With our Bank holding company structure, OCB Bancorp can issue corporate debt and downstream funds to the Bank in the form of common equity, which will allow the Bank to continue to grow, maintain and improve its regulatory capital ratios.” 

George Melton, Chairman of the Board of OCB Bancorp added, “It’s a strategy many banks are deploying at this time. Increasing capital by issuing more common stock is always the best alternative especially when a bank can raise capital at attractive levels. The current difficulty for many small banks, Ojai Community Bank included, is that regardless of how well banks are doing, to issue common stock at today’s discounted prices is not in the best interest of our shareholders.” 

Rather than dilute shareholders by issuing additional stock, a small group of OCB Bancorp Directors provided the Bancorp with added funds through the issuance of subordinated notes at a favorable annual interest rate of 6.5%, a percentage that is less than the Bancorp could have borrowed elsewhere. The issuance of the $3 million in subordinated notes supplements the Bancorp’s previous borrowings of a $4 million term loan and a $3 million credit line in which $2 million was outstanding prior to the latest issuance of subordinated notes. The Bancorp down streamed most of the proceeds to the Bank, with a certain portion of the proceeds used to reduce the outstanding balance of its credit line, and with the Bancorp retaining a small amount to provide for future debt service. Brubaker explains, “The management team and Board of Directors are committed to doing everything possible to make our bank a success; raising this capital reinforces that commitment.”  

Brubaker continued, “Stock is a favored source of capital. When equity markets improve, we look at issuing stock. This strategy is beneficial to shareholders as we continue to focus on growth while increasing shareholder returns.”

OCB Bancorp, a locally owned and operated holding company, was formed in September 2013 as the parent company of Ojai Community Bank, which also operates branches under the trade names of Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank. The Bank offers a full array of banking products and services to businesses, professionals, individuals and commercial property owners. 

The Banks provide customers an alternative to big banks and their accompanying frustrations by focusing on relationship building and problem solving. The Banks are dedicated to providing exceptional personal service and access to banking decision makers. The stock is publicly available under the symbol OJCB.

### END OF RELEASE ### 

This release includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act of 1995. When the Bank uses or incorporates by reference in this release the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe,” and similar expressions, the Company intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors that are beyond our control.

This statement has not been reviewed, or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation.

Interview Contact:
David Brubaker
President & CEO, Ojai Community Bank
(805) 646-9909
dbrubaker@ojaicommunitybank.com

Media Inquiries:
Barbara Brown
BBM&D Strategic Branding
(805) 650-5555
bbrown@bbmd-inc.com

 

August 5, 2016

OCB BANCORP REPORTS GAINS FOR SECOND QUARTER 2016

OJAI, CALIF.—OCB Bancorp reports a well-established performance trend fueled by steady loan growth and solid earnings for the quarter ending June 30, 2016.  The Bank has reached the midpoint of the year with strong positive trends in both the balance sheet and income statement and is confident this trend will continue throughout the rest of the year.

Dave Brubaker, President and CEO stated “Loans also continue to grow, increasing approximately $49 million since June 30, 2015, for a growth rate of 33.3%. This is significantly stronger than the industry average. Year over year growth in deposits was $37 million or 24%. The quarter ended with no loans past due over 30 days and a fully funded allowance for loan loss reserve.”

Brubaker continued “New accounts are increasing significantly and we’re building relationships that reinforce our belief that community banking is alive and well.  “As the only community bank headquartered in Ventura County, we are experiencing excellent growth and have received great feedback for our high quality, timely and personal service.”

Net income year-to-date is $516 thousand or $.25 per share, as of June 30, 2016, compared to $372 thousand last year-to-date, an increase of 39%. This trend is expected to continue as asset growth together with income growth drive stock value forward. 

In their new location downtown, the Ventura branch and administrative offices are benefiting from the efficiency of having their note, central operations and finance departments under one roof. As a result of this new, higher profile location, client relationships and deposits continue to grow. 

OCB Bancorp, a locally owned and operated holding company, was formed in September 2013 as the parent company of Ojai Community Bank, Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank (the Banks). The family of banks offers a full array of banking products and services to businesses, professionals, individuals and commercial property owners.

The Banks provide customers an alternative to big banks and their accompanying frustrations by focusing on relationship building and problem solving. The Banks are dedicated to providing exceptional personal service and access to banking decision makers. The stock is publicly available under the symbol OJCB.

### END OF RELEASE ### 

This release includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act of 1995. When the Bank uses or incorporates by reference in this release the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe,” and similar expressions, the Company intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors that are beyond our control.

This statement has not been reviewed, or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation.

Interview Contact:
David Brubaker
President & CEO, Ojai Community Bank
(805) 646-9909
dbrubaker@ojaicommunitybank.com

Media Inquiries:
Barbara Brown
BBM&D Strategic Branding
(805) 650-5555
bbrown@bbmd-inc.com

 

July 27, 2016 

OCB BANCORP WELCOMES NEW BOARD MEMBER TOM KRAUSE 

Tom Krause

OJAI, CALIF.—OCB Bancorp, the parent company of Ojai Community Bank, and divisions — Santa Barbara Community Bank, Santa Paula Community Bank and Ventura Community Bank announced today the addition of Tom Krause to the Board of Directors.

Tom Krause has been a resident of Ojai since 1975 and has contributed to the success of many local community based organizations.  Dr. Krause was the Chairman/Co-founder of the global company BST (Behavioral Science Technology) a leading pioneer in organizational safety, before it was acquired by DEKRA in 2012. He is presently a Partner at Krause Bell Group in Ojai.  

Dr. Krause is a member of the Thomas Aquinas College Board of Governors, and the Board of Governors of St. John’s College. He is the Founder of the Alliance for Liberal Learning, an association of colleges and universities that promote the cause of classic liberal education.

“We welcome Tom Krause to our board,” states George Melton, Chairman of OCB Bancorp. “having known Tom for many years through his work in the community, leading BST for many years and his commitment to the Board of Thomas Aquinas College, I know he will bring a great deal of knowledge to our board. We look forward to his insight, professionalism, business acumen, and his passion for the community.”

“I am enthusiastic about working closely with OCB Bancorp as this community of banks continues their ascent of success,” said Dr. Krause. “The OCB family of banks have a very strong position in the marketplace, and I believe in their philosophy of banking and advancing the communities they serve.”

Dr. Krause has a Ph.D. in Clinical Psychology from the University of California-Irvine, master’s degrees from California State University, Long Beach and St. John’s College of Santa Fe, New Mexico, and a bachelor’s degree from California State University, Long Beach. He also serves as Chairman of the Board of California Internet Solutions, one of the top-rated Internet service providers in California. He is President of The Agora Foundation, a non-profit organization that provides conversation-based seminars on classic texts.  He serves on the Advisory Board of Community Memorial Hospital. He lives with his wife Cathryn in Ojai.

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ABOUT OCB BANCORP

OCB Bancorp was formed in September 2013 as the parent company of Ojai Community Bank.  Santa Barbara Community Bank, Santa Paula Community Bank and Ventura Community Bank are divisions of Ojai Community bank and offer the full array of banking products and services to businesses, professionals, individuals and commercial property owners. The Bank is dedicated to providing exceptional personal service and access to banking decision makers. The stock is available under the symbol OJCB as listed with the OTC Markets Group.

This release includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act of 1995. When the Bank uses or incorporates by reference in this release the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe,” and similar expressions, the Company intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors that are beyond our control.

This statement has not been reviewed, or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation.

Interview Contact:
David Brubaker
President & CEO, Ojai Community Bank
(805) 646-9909
dbrubaker@ojaicommunitybank.com

Media Inquiries:
Barbara Brown
BBM&D Strategic Branding
(805) 650-5555
bbrown@bbmd-inc.com

 

February 3, 2016

OCB BANCORP REPORTS STRONG PROFITS AND CONTINUED EXPANSION

VENTURA AND SANTA BARBARA COUNTIES, CALIF.—OCB BANCORP, parent company of Ojai Community Bank, announced substantial profits and significant overall performance for 2015. Outstanding operating results combined with excellent loan growth further highlighted a superb year. 

The Bancorp’s net income year-to-date ending December 31, 2015 was $921 thousand, a 142% increase compared to $380 thousand for 2014. This converts to an ROAE (Return on Average Equity) of 6.3%, RAA (Return on Average Assets) of .5% and EPS (Earnings per Share) of $.40.

Total assets increased an impressive $46.9 million or 28.3%, from $165.6 million to $212.6 million, primarily the result of further market penetration. Total loans increased by $48.2 million or 37.5% to $176.5 million as of December 31, 2015—all excellent results.

“Our careful strategy of investing in the future of our community and our Bank has proved a sound course of action,” stated Dave Brubaker, President/CEO. “2015 was a year of continued success in expanding market share, improving profitability, and increasing shareholder value.”

“Loans have grown by over 30% in each of the last three years, in part because of our flexibility as a small bank. We pride ourselves in making local decisions, customized specifically to our customer’s needs,” commented Brubaker. “It’s that personal approach that makes the difference.”

“Our Ventura and Santa Barbara locations are doing extremely well. In addition, this spring, Ventura Community Bank will be relocating to 89 S. California Street in Downtown Ventura,” added Brubaker. “The location has a much higher visibility and will allow us to better meet the demands of our community.”

Mr. Brubaker continued, “We are seeing excellent opportunities with the recent mergers, buyouts and acquisitions locally, and our continued presence as the strongest local community bank is highly significant in this market. Local people like local banking. Very soon, we will be the only community bank headquartered in Ventura County.”

Ojai Community Bank operates Ventura Community Bank, Santa Barbara Community Bank and Santa Paula Community Bank, all divisions of Ojai Community Bank.

“Community banking is a critical component in the health of any local economy,” said Don Scanlin, Chairman of the Board. “Both our Bank and our customers, value one-to-one relationships. We believe our success illustrates the community’s confidence in our small, but growing bank. We welcome new customers and shareholders alike.”

Ojai Community Bank is locally owned and operated, with branches in Ojai, Ventura, Santa Barbara and Santa Paula. Bank stock is available on the OTC Bulletin Board Exchange. The Bank’s symbol is OJCB.

### END OF RELEASE ###

This release includes forward-looking information, which is subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act and the Private Securities Litigation Reform Act of 1995. When the Bank uses or incorporates by reference in this release the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “commit,” “believe,” and similar expressions, the Company intends to identify forward-looking statements. Our actual results may differ materially from those projected in any forward-looking statements, as they will depend on many factors about which we are unsure, including many factors that are beyond our control.

This statement has not been reviewed, or confirmed for accuracy or relevance by the Federal Deposit Insurance Corporation.

Interview Contact:
David Brubaker
President & CEO, Ojai Community Bank
(805) 646-9909
dbrubaker@ojaicommunitybank.com

Media Inquiries:
Barbara Brown
BBM&D Strategic Branding
(805) 650-5555
bbrown@bbmd-inc.com

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