Sierra Vista Bank (fka SVBA)

[Enterprising Investor]

Sierra Vista Bank Reports Record 3rd Quarter 2013 Results (10/21/13)

FOLSOM, CA--(Marketwired - Oct 21, 2013) - Sierra Vista Bank (OTCQB: SVBA) today reported a 235% increase in 3rd quarter 2013 earnings of $228,000, or $0.06 per share compared to earnings of $68,000 or $.03 per share in the three months ending September 30, 2012.

Year to date 2013 earnings totaled $451,000 or $0.12 per share compared to a loss of ($524,000) or ($0.24) per share for the same period a year earlier.

"The improved earnings reflect a strong net interest margin, improved asset quality, and solid growth," stated Gary D. Gall, President/CEO.

Financial Highlights (at or for the quarter ended September 30, 2013)

•The net interest margin was 5.06% versus 4.93% the year earlier period.

•Non-interest bearing deposits represented 30.2% of total deposits.

•Capital levels increased and remain well above the regulatory "well-capitalized" minimum levels:

The Tier 1 Leverage Capital ratio increased to 12.80% compared to 12.16% as of September 30, 2012.

The Tier 1 Risk Based Capital ratio improved to 16.83% compared to 15.66% as of September 30, 2012.

The Total Risk Based Capital ratio improved to 18.09% compared to 16.92 as of September 30, 2012.

•Non-performing assets as a percent of total assets were 1.98%.

•The Bank had no OREO at quarter end

Total assets increased 18.3% to $92.2 million at September 30, 2013, compared to $77.9 million at September 30, 2012. Net loans increased 15.3% to $67.4 million at the end of September 30, 2013 compared to $58.4 million at September 30, 2012. Deposits increased 20.7% to $80.6 million at September 30, 2013, compared to $66.8 million at September 30, 2012.

"Our strong growth rate reflects the hard work of our professional staff and the desire of many to bank locally," stated Gall.

Non-performing assets totaled $1.8 million at September 30, 2013 compared to $3.8 million at the end of September 2012. The largest portion of the decrease was the sale of the final OREO properties totaling $1.6 million. At September 30, 2013, all non-performing assets are performing either under their original terms as agreed or under forbearance agreements.

About Sierra Vista Bank
Sierra Vista Bank is a locally owned community bank headquartered at 1710 Prairie City Road in Folsom, California since March 2007 and has a branch located in the Sam's Town Center in Cameron Park. The Bank prides itself on serving the financial needs of small businesses and professionals in Folsom and throughout the Highway 50 Corridor while remaining committed to community philanthropy. Additional information about Sierra Vista Bank can be found at www.sierravistabank.com or by calling [phone].

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