Central Valley bank earnings fall to $1.7M - New Mexico Business Weekly:

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million in the first half of the year, down from earningds of $2.6 million the year earlier period. The bank holdingt company of earned $464,000 in the secons quarter, down from $1.3 millio n the year earlier period. “Whil we remained profitable, the disappointingb earnings in the secondx quarter is a reflectiohn of the increased provision for credit losses in the lighty of the overall weak economy and the potentia impact it many have on our borrowingv customers during this economic cycle and the significant increase in the FDIC insurance premiums from both the increase in regulatr assessment rates as well as the special assessment rate place d on all FDIC insured institutionsd insecond quarter,” said Dan Doyle, presideny of the bank holding company.
The bank has 15 branchese in the Central Valley from the Fresnlo areato Sacramento. The bank companyh got $7 million in Capital Purchase Program moneyt from the Department of Treasury earlierthis year. It acquirerd the Stockton, Lodi and Tracy branches of Servicse 1st Bancorpin November.