Tri-Valley Bank (fka TRVB)

[56Chevy]

Tri-Valley Bank Announces Third Quarter 2016 Earnings and Record Loan and Deposit Growth

Business Wire October 21, 2016

SAN RAMON, Calif.--(BUSINESS WIRE)--

Tri-Valley Bank (TRVB) today announced unaudited earnings for the third quarter ended September 30, 2016. Financial performance highlights include the following:

-Loans: Total loans as of September 30, 2016 reached a record $107.1 million, an annual increase of $24.3 million compared to September 30, 2015, a 29% annual increase, and an increase of $6.4 million over total loans at June 30, 2016.

- Deposits: Total deposits as of September 30, 2016 reached a record $121.0 million, an increase of $30.0 million from September 30, 2015, a 33% annual increase, and an increase of $13.0 million from June 30, 2016. The Federal Reserve increased the Fed Funds rate in December, 2015 and the Bank’s cost of funds has not risen and was 0.29% in the year-to-date period ending September 30, 2016, which was unchanged from the 0.29% cost of funds for the same year-to-date period ending September 30, 2015.

- Net Income/Loss: The year-to-date net income at September 30, 2016 was $175,000, an improvement of $184,000 compared to the year-to-date net loss of $9,000 at September 30, 2015. Net loss for the third quarter of 2016 was $62,000 compared to net income of $118,000 for the second quarter of 2016. The net loss incurred this quarter was attributed to a one-time fraud related operational loss of $145,000.

- Capital: The tier 1 leverage ratio at September 30, 2016 was 10.23% compared to 11.51% at September 30, 2015, and 10.46% at June 30, 2016.

- Loan Delinquencies: As of September 30, 2016, there were no loans past due 30+ days, and no loans on non-accrual.

“The Bank’s record loan and deposit growth show our commitment to our customers and communities and sets the stage for significant earnings growth in 2017,” said Arnold Grisham, Chairman, President and CEO. “We are pleased to service the markets of Livermore, and the 680 and 880 East Bay corridors, and are proud to provide banking services to a full range of professionals and business owners, non-profit organizations and property management companies.”

[....]

To view basic financials on this PR click the link;

http://finance.yahoo.com/news/tri-valley-bank-announces-third-120000285.html

*The Outstanding share count as of 11/17/2016 stands at 39,080,961.

http://www.otcmarkets.com/stock/TRVB/profile

**FDIC # is 58004

Marker;
Tri-valley Bank (ram (TRVB)
$0.50 down -0.01 (-1.96%)
Volume: 13,200