Valley Commerce Bancorp Reports Third Quarter 2016 Results

VISALIA, Calif., Oct. 26, 2016

Allan W. Stone, President and Chief Executive Officer, remarked, "I'm very pleased to announce that our company is poised to complete both this year and its 20-year career with a very solid earnings performance.  Over the past twelve months, we've grown loans by over $20 million and deposits by over $22 million while maintaining a favorable net interest margin.  Coming off five consecutive years of record earnings, it is certainly a pleasure to note that our 2016 earnings are ahead of last year's pace despite economic and regulatory challenges."

Stone added, "As previously announced, we anticipate that our merger into Citizens Business Bank will be completed early next year.  I believe it will unquestionably be a win for the shareholders of both companies.  Valley Business Bank has steadily moved up the ladder of financial performance rankings among community banks and Citizens Business Bank was recently ranked at the top of the industry.  In addition, there are many similarities between the business models and underlying philosophies of the two companies.  I am very confident that post-merger our customers will be served by a strong business banking team with even greater capability to add value to customer relationships."

 Selected financial information is presented in the following table: