For the third consecutive year, Community Bank of Santa Maria has been named a Premier Performing Bank by The Findley Report, a peer review organization that rates banks on their management effectiveness.

Produced by the Findley Companies since 1967, The Findley Report judges banks on various criteria, including growth, net operating income, net loan losses and return on equity.

Its designations have become highly regarded, and recipients of the designations are recognized throughout the Western United States as financial institutions achieving exceptional performance, said a Community Bank spokesman.

&#8220It/s supposed to represent a well-managed bank that is giving a good return for its shareholders,C said Janet Silveria, chief financial officer for Community Bank of Santa Maria.

Being a Premier Performing Bank requires an increase either in gross assets, total deposits or gross income, she said.

&#8220You only have to hit one of these to make the grade,C she said. &#8220We hit all three.C

The Findley Report based its report on 2006 year-end figures, which showed total deposits of just under ,95.4 million and total assets of just under ,111.2 million.

These were 18 percent over 2005 for deposits and 13 percent over 2005 for assets, Silveria said.

Findley requires at least a 1.35 percent increase in net operating income as a percentage of average gross assets for Premier Performing Banks and 1.85 for Super Premier Performing Banks; Community Bank actually achieved 1.85 percent for 2006.

Net loan losses are required to be less than half a percent for Premier Performing Banks and 0.30 percent for Super Performing Banks, according to the Findley criteria.

Community Bank showed .01 percent for 2006.

Silveria said it is the return on equity requirements that make it difficult for a new bank to achieve the Super Premier Performing Bank status. Newer operations require more income to be put back into the operation to build the bank, she explained.

April 28, 2007