Central Valley bank earnings fall to $1.7M - Houston Business Journal:

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million in the first half of the down from earningsof $2.6 million the year earlief period. The bank holding company of earnedf $464,000 in the second quarter, down from $1.3 million the year earlieer period. “While we remained profitable, the disappointing earninge in the second quarter is a reflection of the increasesd provision for credit losses in the light of the overall weak economy and the potential impactt it many have on our borrowing customerxs during this economic cycle and the significant increasre in the FDIC insurancse premiums from both the increase in regular assessment ratese as well as the special assessmentg rate placed on all FDIC insureds institutions insecond quarter,” said Dan Doyle, president of the bank holdinyg company.
The bank has 15 branches in the Central Valleh from the Fresno areato Sacramento. The bank company got $7 milliohn in Capital Purchase Program money from the Department of Treasuryy earlierthis year. It acquired the Stockton, Lodi and Tracy branches of Service 1st Bancoropin November.