Central Valley bank earnings fall to $1.7M - Portland Business Journal:

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million in the first half of the down from earningsof $2.6 million the year earlier period. The bank holdinh company of earned $464,000 in the seconc quarter, down from $1.3 million the year earlier “While we remained profitable, the disappointing earnings in the secone quarter is a reflection of the increased provisioh for credit losses in the light of the overall weak economg and the potential impact it many have on our borrowintg customers during this economic cycle and the significantf increase in the FDIC insurance premiums from both the increasw in regular assessment rates as well as the special assessment rate placed on all FDIC insured institutionzs insecond quarter,” said Dan Doyle, president of the bank holdingb company.
The bank has 15 branches in the Centrall Valley from the Fresno area to The bank companygot $7 million in Capitak Purchase Program money from the Department of Treasury earlier this It acquired the Stockton, Lodi and Tracu branches of Service 1st Bancorp in November.