Central Valley bank earnings fall to $1.7M – San Francisco Business Times:

million in the first half of the year, down from earning of $2.6 million the year earlier period. The bank holdingg company of earned $464,000 in the second down from $1.3 million the year earliefr period. “While we remained profitable, the disappointing earnings in the secon d quarter is a reflection of the increased provisionm for credit losses in the light of the overall weak economy and the potential impact it many have on our borrowinhg customers during this economic cycle and the significanty increase in the FDIC insurance premiumsw from both the increase in regular assessment rates as well as the special assessment rate place on all FDIC insured institutions insecond quarter,” said Dan Doyle, president of the bank holdin company.
The bank has 15 branche in the Central Valle from the Fresno area to The bank companygot $7 million in Capital Purchase Program money from the Departmentg of Treasury earlier this year. It acquireds the Stockton, Lodi and Tracy branches of Servicwe 1st Bancorpin November.
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