Central Valley Community Bancorp (CVCY) announced its earnings for the quarter ending March 31, 2021, coupled with an increase in its quarterly dividend. The bank operates 20 branches across California's San Joaquin Valley and Greater Sacramento Region, focusing on commercial real estate, agribusiness, and SBA lending. The release emphasizes the bank's ongoing commitment to community service and financial growth.
The Board of Directors of Central Valley Community Bancorp (NASDAQ: CVCY) announced the retirement of President & CEO James M. Ford effective early spring 2022. Ford, who has served since 2014, will remain in his role until a successor is appointed. Under his leadership, the bank expanded significantly, doubling its assets to over $2 billion and increasing tangible book value per share from $8.10 to $15.19. His tenure is marked by successful organic growth and acquisitions. The Board has initiated a succession plan to identify his replacement.
Central Valley Community Bancorp (NASDAQ: CVCY) has reported its financial results for the year and quarter ending December 31, 2020. The results reveal insights into growth and performance metrics of the bank, with emphasis on dividends announced alongside the earnings report. The bank operates 20 full-service locations in California, focusing on various lending sectors including commercial real estate and agribusiness. For more detailed financial metrics and dividend information, stakeholders are encouraged to visit the official news room and investor relations pages.
Central Valley Community Bancorp (CVCY) announced Q3 2020 results with consolidated net income of $4.34 million ($0.35/share), down from $5.69 million ($0.42/share) in Q3 2019. For the nine months ended September 30, 2020, net income was $13.27 million ($1.05/share), a 21.93% decrease from $17 million ($1.25/share) in 2019. Total assets rose 21.42% to $1.93 billion, while total deposits increased 27.53% to $1.66 billion. The company declared a dividend of $0.11 per share, payable November 27, 2020. Non-performing assets rose by 104.25% to $3.46 million.
Central Valley Community Bancorp (CVCY) announced the appointment of Andriana Majarian to its Board of Directors, effective December 1, 2020. Majarian, the COO of Agrian, brings over 15 years of experience in technology-driven business solutions and agribusiness. Her leadership at Agrian, recognized as a top ag tech firm, includes overseeing global operations in 58 countries. President and CEO James M. Ford emphasized Majarian's diverse perspectives and expertise will enhance the company's technology advancements and growth in California's Greater Sacramento and San Joaquin Valley regions.