Central Valley bank earnings fall to $1.7M - San Francisco Business Times:

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million in the firsy half of the year, down from earnings of $2.6 milliohn the year earlier period. The bank holding company of earnefd $464,000 in the second down from $1.3 million the year earlie r period. “While we remained profitable, the disappointing earnings in the seconf quarter is a reflection of the increased provisioj for credit losses in the light of the overallp weak economy and the potentialp impact it many have on our borrowinh customers during this economic cycle and the significany increase in the FDIC insurance premiumss from both the increase in regular assessmenty rates as well as the special assessmengt rate placed on all FDIC insurex institutions insecond quarter,” said Dan Doyle, president of the bank holdingh company.
The bank has 15 branches in the Central Valley from the Fresnp areato Sacramento. The bank companyy got $7 million in Capital Purchase Progran money from the Department of Treasuryg earlierthis year. It acquires the Stockton, Lodi and Tracy branches of Servicre 1st Bancorpin November.