Tri-Valley Bank (fka TRVB)

[Enterprising Investor]

Tri-Valley Bank Announces Record First Quarter 2016 Earnings (4/26/16)

SAN RAMON, Calif.--(BUSINESS WIRE)--Tri-Valley Bank (OTC: TRVB) today announced unaudited earnings for the first quarter ended March 31, 2016. Financial performance highlights include the following:

Net Income/Loss: Net income for the first quarter of 2016 was $119,000, an improvement of $172,000 over the quarterly net loss of $53,000 for the first quarter of 2015, and an improvement of $69,000 from the $50,000 in net income in the fourth quarter 2015. The net interest margin in the first quarter of 2016 was 3.60% compared to 3.31% in the fourth quarter of 2015.

• Loans: Total loans at March 31, 2016 were $99.6 million, an increase of $16.3 million over March 31, 2015 and an increase of $5.4 million over total loans at December 31, 2015.

• Deposits: Total deposits as of March 31, 2016 were $109.9 million, an increase of $23.3 million from March 31, 2015, and an increase of $9.7 million from December 31, 2015. The cost of funds was 0.29% in first quarter of 2016 compared to 0.28% in the first quarter of 2015.

• Capital: The tier 1 leverage ratio at March 31, 2016 was 11.10% compared to 9.72% at March 31, 2015, and 11.85% at December 31, 2015.

• Loan Delinquencies: As of March 31, 2016, there were no loans past due 30+ days. Loans on non-accrual totaled $13,000.

“The Bank’s record net income in the first quarter and the positive net income trends driven by loan and deposit growth show our commitment to our customers, and the value we’re building through the personal service we provide,” 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.”

http://www.businesswire.com/news/home/20160426005335/en/Tri-Valley-Bank-Announces-Record-Quarter-2016-Earnings