Valley Republic Bancorp Announces Third Quarter 2017 Financial Results

Total assets were $669,565,000 at the end of the third quarter 2017, an increase of $90,510,000, or 16%, compared to $579,055,000 at year-end 2016. Total assets grew $121,476,000, or 22%, compared to $548,089,000 at the end of the third quarter of 2016.      

Total net loans were $434,787,000 at September 30, 2017, representing an increase of $50,239,000, or 13%, compared to $384,548,000 at December 31, 2016, and an increase of $71,572,000, or 20%, compared to $363,215,000 at September 30, 2016.   At September 30, 2017, the Bank had no nonperforming loans or loan payments that were more than 30 days delinquent. 

At September 30, 2017, total deposits were $605,689,000, an increase of $87,189,000, or 17%, compared to $518,500,000 at year-end 2016. Total deposits were up approximately $115,473,000, or 24%, compared to $490,216,000 at September 30, 2016.    

Bruce Jay further stated, "The growth of Valley Republic Bank, not only during 2017 but since inception in 2009, has been remarkable.  Out of approximately 5,800 banks in the United States, Valley Republic Bank is now in the top 20%, ranked by size.  To surpass over 4,700 banks in just eight and a half years is a tribute to the greater Bakersfield community and the entire team at Valley Republic Bank."

Capital

Total shareholders' equity at September 30, 2017 was $55,536,000, an increase of $5,057,000, or 10%, compared to $50,479,000 at December 31, 2016. Total shareholders' equity increased by $5,819,000, or 12%, compared to $49,717,000 at September 30, 2016.

According to Eugene Voiland, Chairman of the Board, "The Board of Directors remains engaged in the oversight of Valley Republic Bancorp and Valley Republic Bank to ensure a safe Company that provides quality banking services on a relationship basis for the Bakersfield and Kern County market.  In addition to strong capital, our high quality loan portfolio, with no delinquent or nonperforming assets, provides that assurance."

About Valley Republic Bancorp and Valley Republic Bank

Valley Republic Bancorp is a bank holding company formed in 2016. Valley Republic Bank, a wholly-owned subsidiary of Valley Republic Bancorp, is a community bank headquartered in Bakersfield, California. The Bancorp is subject to the regulatory oversight of the Federal Reserve Bank, and the Bank is subject to the regulatory oversight of the Federal Deposit Insurance Corporation and the California Department of Business Oversight. Valley Republic Bank is an insured, state-chartered, non-member bank of the Federal Reserve System. The Bank is in its ninth year of operation, having been established in 2009. Valley Republic Bank is a full-service, community bank with three full-service banking offices in Bakersfield and one full-service banking office in Delano. Valley Republic Bank emphasizes professional, high quality banking services provided to a wide range of businesses and professionals. The Bank also provides a full complement of banking services that are available to individuals and non-profit organizations.  

Valley Republic Bancorp and Subsidiary
Balance Sheet
(Unaudited. Dollars in thousands)	September 30, 2017		December 31, 2016
ASSETS
Cash and Due From Banks	$                  8,107		$                10,692
Federal Funds Sold & Interest-Bearing Deposits in Banks	54,702		24,167
Total Cash and Equivalents	62,809		34,859
Time Certificates of Deposit in Banks	32,688		32,440
Investment Securities:
Held-to-Maturity	53,207		43,521
Available-for-Sale	54,070		51,101
Total Investment Securities	107,277		94,622
Loans, Net of Deferred Fees and Costs	440,990		390,033
Allowance for Loan losses	(6,203)		(5,485)
Net Loans	434,787		384,548
Premises and Equipment	1,678		1,759
Bank Owned Life Insurance	10,171		9,975
Interest Receivable and Other Assets	20,155		20,852
TOTAL ASSETS	$              669,565		$              579,055
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Deposits
Noninterest-Bearing	$              240,452		$              208,615
Interest-Bearing	365,237		309,885
Total Deposits	605,689		518,500
Accrued Interest Payable and Other Liabilities	8,340		10,076
Total Liabilities	614,029		528,576
Shareholders' Equity
Common Stock, no Par Value	38,132		37,391
Additional Paid-in Capital	1,767		1,883
Retained Earnings	15,754		11,461
Accumulated Other Comprehensive Income (Loss)	(117)		(256)
Total Shareholders' Equity	55,536 Werbung Mehr Nachrichten zur VALLEY REP BNK Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 25.04.24 - PR Newswire Norges Bank - Form 8.3 - BHP Group Limited 25.04.24 - PR Newswire Moonpig Group Plc - Holding(s) in Company 25.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Wincanton Plc SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59