Lighthouse Bank Announces Third-Quarter Earnings
Lighthouse Bank Reports Strong Third-Quarter Earnings, Net Income Up 88 Percent Year-Over-Year
Santa Cruz, Calif., October 20, 2017 - Locally owned Lighthouse Bank (OTC-QB: LGHT) today released unaudited financial results for the quarter-ended September 30, 2017. Net income was $978 thousand, an 88% increase over the same quarter in 2016. Total assets grew to a record $257 million, an increase of $47 million, or 23%, from the quarter-ended September 30, 2016.
These results represent the Bank's 33rd successive quarter of profitable operations. Highlights for the third quarter results include: Loans increased by $26 million, or 16% year over year; and deposits increased $42.6 million, or 24%, compared to the quarter-ended September 30, 2016. In addition to increased loan yields, year-over-year profitability has benefitted by a short-term reduction in the Bank's effective tax rate.           
For the quarter-ended September 30, 2017, total shareholders' equity increased by $1.4 million to $34 million. Year-over-year, shareholders' equity increased $4.5 million, or 15%.
In August, 2017 the Bank paid a $0.09 per share quarterly cash dividend to shareholders, which followed four previous consecutive quarterly cash dividends of $0.08 per share. Since January 2015, the Bank has paid $2,560,314 in cash dividends to shareholders.
During the quarter the Bank continued with its expansion plans in Silicon Valley, celebrating the October 2nd opening of its new full-service banking office located at 19240 Stevens Creek Boulevard in Cupertino.
Lane Lawson, Chief Executive Officer of Lighthouse Bank confirms, "We experienced significant traction since launching our Loan Production Office earlier this year. We felt it was time to demonstrate our commitment to the local business community by expanding the Bank's footprint to include a full-service office, staffed by experienced relationship bankers who truly understand the unique needs of Silicon Valley businesses."
Lighthouse Bank celebrates its 10th Anniversary on October 29, 2017.  Since opening, the Bank has established itself as a consistent elite performer, earning consecutive top rankings based on a variety of categories including asset quality, capital adequacy, return on average assets, return on average equity and operational efficiency.
Recognition and Awards Received :
  • 2016 & 2017 consecutive-year ranking as "Nation's 5th Healthiest Bank" of 6,000 total banks.
  • SNL Financial ranking as "Nation's 29th Highest Performing Bank" in 2016 of 5,100 banks of asset size under $1 billion.
  • Financial Management Consulting's "12th Highest Performing Bank" out of 171 California banks, based on overall performance.
  • 21-consecutive quarters possessing "Five-Star Superior" the top rating by Bauer Financial.
  • 6 consecutive-year achievement of "Super Premier Performing Bank", the highest designation given by Findley Reports, Inc.

Lighthouse Bank is a highly rated locally owned and operated full-service commercial bank with offices in Santa Cruz and Santa Clara Counties. The Bank's headquarters are located at 2020 North Pacific Avenue in Santa Cruz, CA. The Bank's Silicon Valley office is located at 19240 Stevens Creek Blvd, Cupertino, 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 close at hand.  Lighthouse Bank's unique worldwide ATM fee waiver program and complimentary business courier service expand the Bank's geographical reach throughout Santa Cruz County and the Silicon Valley. Lighthouse Bank is committed to operating an open, ethical and financially successful company without engaging in the corporate excesses that have characterized the financial services industry.  All decisions are intended to contribute to the long-term success of its clients, employees, owners and the communities it serves. Lighthouse Bank has never been subject to either formal or informal regulatory action.  
Lighthouse Bank's stock (LGHT) is actively traded via the Bank's market makers and online and full-service brokerage providers. More information on the Bank and historical financial performance may be obtained through the Bank's website at or by calling 831-600-4000.

Member FDIC / Equal Housing Lender / SBA Preferred Lender

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.
For further information, please contact:
Lane S. Lawson
Chief Executive Officer


Santa Cruz Office
2020 North Pacific Avenue
Santa Cruz, Ca 95060

Silicon Valley Office
19240 Stevens Cre ek Boulevard
Cupertino, Ca 95014

Member FDIC