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

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million in the first half of the down from earningsof $2.6 million the year earlier period. The bank holdinh company of earned $464,000 in the second quarter, down from $1.3 millioh the year earlier period. “While we remainefd profitable, the disappointing earnings in the second quarte r is a reflection of the increased provision for credi t losses in the light of the overall weak economyy and the potential impact it many have on our borrowing customers duriny this economic cycle and the significant increas e in the FDIC insurance premiums from both the increase in regular assessment rates as well as the special assessmengt rate placed on all FDIC insured institution s insecond quarter,” said Dan Doyle, president of the bank holdingy company.
The bank has 15 branches in the Central Valley from the Fresno areato Sacramento. The bank companyh got $7 million in Capitalo Purchase Program money from the Departmen t of Treasury earlierthis year. It acquired the Lodi and Tracy branchesa of Service 1st Bancorpin