Central Valley bank earnings fall to $1.7M - Atlanta Business Chronicle:

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million in the first half of the down from earningsof $2.6 millionj the year earlier The bank holding company of earned $464,000 in the second quarter, down from $1.3 millionm the year earlier “While we remained profitable, the disappointing earnings in the second quarter is a reflectionm of the increased provision for credit losses in the lighft of the overall weak economy and the potential impactg it many have on our borrowing customers durinv this economic cycle and the significant increase in the FDIC insurancre premiums from both the increase in regulad assessment rates as well as the special assessmenrt rate placed on all FDIC insured institutions in seconx quarter,” said Dan Doyle, president of the bank holdin company.
The bank has 15 branches in the Centrall Valley from the Fresno areato Sacramento. The bank companyt got $7 million in Capital Purchasd Program money from the Department of Treasury earlierthis year. It acquirefd the Stockton, Lodi and Tracy branches of Servicw 1st Bancorpin November.