Last $6.75 USD
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

pacific valley bank (PVBK) Key Developments

Pacific Valley Bank Appoints Joe Robello as Chairman of the Board and Forms an Executive Committee

The Board of Directors of Pacific Valley Bank has appointed Mr. Joe Robello as Chairman of the Board and formed an executive committee composed of Messrs. Rodney Braga, Mike Cling and Joe Robello to assist the company with the day-to-day management of the company.

Pacific Valley Bank Announces Unaudited Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2013

Pacific Valley Bank announced unaudited earnings results for fourth quarter and full year ended Dec. 31, 2013. For the quarter, the company reported interest income of $2,173,000, net interest income of $1,922,000, net income of $4,059,000 or $1.13 per basic share compared to the interest income of $2,181,000, net interest income of $1,928,000, net income of $484,000 or $0.13 per basic share for the same quarter a year ago. Return on average assets 7.91% compared to the 1.11% for the same quarter year ago. Return on average equity 70.07% compared to the 9.18% for the same quarter year ago. For the year, the company reported interest income of $8,889,000, net interest income of $7,929,000, net income of $5,555,000 or $1.54 per basic share compared to the interest income of $8,495,000, net interest income of $7,461,000, net income of $1,906,000 or $0.53 per basic share for the previous year. Return on average assets 2.90% compared to the 1.12% for the previous year. Return on average equity 25.02% compared to the 9.43% for the previous year.

Pacific Valley Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Pacific Valley Bank reported unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company's net interest income was $1,952,000 compared with $1,906,000 a year ago. Net income was $411,000, or $0.11 basic earnings per share, as compared to the same quarter last year when the company reported net income of $677,000, or $0.19 basic earnings per share. As on September 30, 2013, the company's book value per share was $6.30. Return on average assets was 0.83%. Core earnings were $2.1 million, which is slightly lower than the same quarter a year ago. Interest income was $2,196,000 compared with $2,160,000 a year ago. For the nine months, the company's net interest income was $6,007,000 compared with $5,535,000 a year ago. Net income was $1,496,000 or $0.42 per basic share compared with $1,422,000 or $0.40 per basic share a year ago. Return on average assets was 1.07% compared with 1.14% a year ago. Return on average assets was 9.11% compared with 9.52% a year ago. The core earnings for the period were $6.4 million as compared to the same period ending September 30, 2012 when the core earnings were $5.9 million. Interest income was $6,716,000 compared with $6,315,000 a year ago. The increase in interest income for the period of $0.4 million is due in large part to the recognition of interest income from a previously classified nonaccrual status loan that was paid off during the first quarter of 2013.

Pacific Valley Bank Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

Pacific Valley Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2013. The company announced its unaudited second quarter 2013 net income of $480,000, or $0.13 basic earnings per share, as compared to the same quarter last year when reported net income of $435,000, or $0.12 basic earnings per share. Interest income was $2.1 million against $2.149 million a year ago. The increase in interest income for the six month period of $0.3 million is due in large part to the recognition of interest income from a previously classified nonaccrual status loan that was paid off during the first quarter of 2013. Return on average assets was 1.05%. Net income for the first half of 2013 was $1,085,000, or $0.30 basic earnings per share, as compared to the first half of 2012 for which reported net income of $745,000, or $0.21 basic earnings per share. The interest income was $4.5 million as compared to the same period ending June 30, 2012 when it was $4.2 million. Return on average equity was 10.09% against 7.60% a year ago. Return on average assets was 1.20% against 0.92% a year ago. Book value per share was $6.19 against $5.59 a year ago.

Pacific Valley Bank Reports Earnings Results for the First Quarter Ended March 31, 2013

Pacific Valley Bank reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s net income was $605,000 or $0.19 basic earnings per share as compared to the same quarter last year a net income of $310,000 or $0.09 basic earnings per share. Return on average assets (ROA) was 1.35%. Core earnings were $2.20 million, which is higher compared to $1.86 million for the same quarter a year ago. Interest income was $2.37 million as compared to $2.08 million in the same quarter a year ago. The increase in interest income is due in part to the recognition of $270,000 in interest income from a previously classified nonaccrual status loan that was paid off during the current quarter. Net interest income was $2,139,000 compared to $1,806,000 a year ago. Return on equity was 11.26% compared to 6.34% a year ago. Book value per share as at March 31, 2013 was $6.66 compared to $6.02 per share as at March 31, 2012.

 

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