Business News • MarketWire • Central Valley Community Bancorp Reports Earnings Results for the Quarter Ended March 31, 2011 |
Central Valley Community Bancorp Reports Earnings Results for the Quarter Ended March 31, 2011 |
|
|
Central Valley Community Bancorp Reports Earnings Results for the Quarter Ended March 31, 2011
FRESNO, CA--(Marketwire - Apr 20, 2011) - The Board of Directors of Central Valley
Community Bancorp (Company) (NASDAQ: CVCY), the parent company of Central
Valley Community Bank (Bank), reported today unaudited consolidated net
income of $1,588,000, and diluted earnings per common share of $0.16 for
the quarter ended March 31, 2011, compared to $1,292,000 and $0.13 per
diluted common share for the quarter ended March 31, 2010. Net income
increased 22.91% primarily driven by lower provision for credit losses,
gains on sales of Other Real Estate Owned, and a decrease in non-interest
expenses, partially offset by a decrease in net interest income before
provision for credit losses and an increase in the provision for income
taxes in the first quarter of 2011 compared to the same period in 2010.
View More : http://www.marketwire.com/mw/release.do?id=1505007&sourceType=3
|
|
|