Business News • MarketWire • Sierra Vista Bank Reports 2nd Quarter 2015 Financial Results |
Sierra Vista Bank Reports 2nd Quarter 2015 Financial Results |
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Sierra Vista Bank Reports 2nd Quarter 2015 Financial Results
FOLSOM, CA--(Marketwired - Jul 28, 2015) - Sierra Vista Bank (OTCQB: SVBA) today reported net income for the 2nd Quarter of $132,000, compared to net income of $122,000 for the same period a year ago, representing an increase of 8.2%. This also represented an increase of 16.8% over the $113,000 profit made in the 1st Quarter of 2015. Net income year to date was $245,000, compared to $298,000 for the first half of 2014. Earnings for the first half of 2015 were impacted by the opening of the Bank's 3rd branch in June 2014 as well as the current interest rate environment. The Bank is pleased to report that our Fair Oaks office has shown significant growth in its first twelve months of operation and ended the quarter with over $22.1 million in deposits.
View More : http://www.marketwired.com/mw/release.do?id=2042749&sourceType=3
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