Business News • MarketWire • Sierra Vista Bank Reports 2nd Quarter 2016 Financial Results |
Sierra Vista Bank Reports 2nd Quarter 2016 Financial Results |
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Sierra Vista Bank Reports 2nd Quarter 2016 Financial Results
FOLSOM, CA--(Marketwired - Jul 20, 2016) - Sierra Vista Bank (OTCBB: SVBA) today reported pre-tax profits for the 2nd Quarter of 2016 totaled $240,000 compared to $226,000 for the same quarter a year ago, an increase of 6.2%. Net income for the 2nd Quarter of 2016 totaled $131,000, compared to net income of $132,000 for the same period a year ago, a decrease of .8%. Pre-tax earnings year to date were $455,000 compared to $420,000 for the first half of 2015, an increase of 8.3%. Net income year to date was $249,000 compared to $245,000 for the same period one year ago. The 2nd Quarter pre-tax income number includes strategic expenses totaling $129,000 related to the pending merger transaction with Central Valley Community Bancorp and Central Valley Community Bank announced on April 28, 2016.
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