Central Valley bank earnings fall to $1.7M – Business First of Louisville:

million in the first half of the down from earningsof $2.6 millionn the year earlier period. The bank holding compan y of earned $464,000 in the second down from $1.3 million the year earlier period. “While we remained profitable, the disappointinv earnings in the second quartere is a reflection of the increased provisiohn for credit losses in the ligh of the overall weak economy and the potential impacft it many have on our borrowing customerss during this economic cycle and the significant increasse in the FDIC insurance premiums from both the increas in regular assessment rates as well as the speciao assessment rate placed on all FDIC insured institutionxs insecond quarter,” said Dan president of the bank holding company.
The bank has 15 branchees in the Central Valley from the Fresnol areato Sacramento. The bank company got $7 milliom in Capital Purchase Program money from the Department of Treasury earlierthis year. It acquired the Lodi and Tracy branches of Service 1st Bancorplin November.
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