Lighthouse Bank


Lighthouse BankSanta Cruz, Calif., October 13, 2011 - Locally owned Lighthouse Bank (OTC Bulletin Board: LGHT.ob

posted a $366 thousand profit for the 3rd quarter ended September 30, 2011, representing the Bank's 9th successive quarter of profitable operations and record quarterly earnings for the four year old Bank. For the period, earnings surpassed the $340 thousand record set at the quarter ended June 30, 2011, and represented a 70% increase in earnings compared to the same period ended September 30, 2010. Year-to-date earnings for the first nine months of 2011 were $1.03 million. Shareholders' equity increased by $373 thousand to $18.3 million during the 3rd quarter of 2011. The Bank experienced strong growth in both loans and deposits during the quarter.


A milestone during the quarter, deposits increased to over $100 million. Total loans surpassed $77 million reflecting the Bank's deployment of deposits back into the community as loans. Lighthouse Bank has continued to maintain capital that is substantially in excess of the "well capitalized" designation established by financial regulators. The Bank's loan loss reserve of 3.37% of gross loans is also significantly above industry averages. The loan loss reserve was increased by $290 thousand during the quarter as the result of loan growth. The Bank had no past due loans in excess of 30 days at September 30, 2011. Total nonperforming assets of $405 thousand represented 0.3% of total assets and consisted of a single piece of residential real estate owned by the Bank. Total nonperforming assets decreased by $2.1 million during the quarter.                 




Lighthouse Bank is a locally owned and operated full-service commercial bank located in Santa Cruz, CA. The Bank offers a full array of banking products and services to businesses, professionals, individuals, developers and commercial property owners. The Bank is dedicated to providing exceptional personalized service and access to decision makers who are always close at hand.  The Bank offers a unique worldwide ATM fee rebate program and complimentary business courier service which expands the geographical reach of its banking office location throughout Santa Cruz County. Lighthouse Bank is committed to operating an open, ethical and financially successful company without engaging in the corporate excesses that have come to characterize the financial services industry.  All decisions are intended to contribute to the long-term success of its clients, employees, owners and the community it serves. Lighthouse Bank received no TARP funds and has neither accepted nor requested government assistance of any kind.


Lighthouse Bank is located at 111 Mission Street in Downtown Santa Cruz, CA. Lighthouse Bank's common stock is listed on the Over-the-Counter (OTC) Bulletin Board under the stock symbol LGHT.OB. More Information on the Bank may be obtained through its website or by calling 831-600-4000.




The attached release may contain forward-looking statements that are subject to risks and uncertainties.  Such risks and uncertainties may include but are not necessarily limited to fluctuation in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control.  Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated.  Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof.  The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. 


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