Central Valley bank earnings fall to $1.7M - Business First of Buffalo:

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million in the first half of the year, down from earnings of $2.6 million the year earlier period. The bank holding compant of earned $464,000 in the second down from $1.3 million the year earliefr period. “While we remained profitable, the disappointingf earnings in the second quarter is a reflectionm of the increased provision for credit lossexs in the light of the overall weak economy and the potentialp impact it many have on our borrowing customersa during this economic cycle and the significantf increase in the FDIC insurance premiums from both the increase in regulad assessment rates as well as the special assessment rate placed on all FDIC insurexd institutions in second saidDan Doyle, president of the bank holding The bank has 15 branches in the Centralp Valley from the Fresno area to Sacramento.
The bank company got $7 million in Capital Purchaswe Program money from the Department of Treasury earlietrthis year. It acquired the Stockton, Lodi and Tracy branchesd of Service 1st Bancorplin November.