Bank opening Simi Valley branch

California Oaks State Bank has finalized plans for a permanent Simi Valley branch at the new Simi Valley Corporate Point Center on First Street, adjacent to the Simi Valley Town Center. The bank plans to open the new branch in April 2008.

"This new branch will provide our Simi Valley customers local access, as well as providing businesses in the area with an exciting alternative," said Robert E. Lewis, board chair.

The bank also announced its second quarter results. The quarter ended with earnings of $179,000, or 12 cents per share; assets ended at $107.6 million and loans and deposits at $85 million and $89.2 million respectively.

The high-quality loan portfolio remains unaffected by the problems in the housing market.

California Oaks State Bank was founded in 1998 and is a locally owned community bank.

For additional information, visit www.caloaks.com.