Golden Valley Bancshares Reports First Quarter 2023 Results (Unaudited)
CHICO, CA / ACCESSWIRE / April 24, 2023 / Golden Valley Bancshares (OTC Markets:GVYB), with its wholly owned subsidiary, Golden Valley Bank headquartered in Chico, California today reported first quarter 2023 net profit of
Loans increased
"We are happy with our first quarter results, especially with the uncertainty in the banking industry that occurred at the end of the quarter," said President and Chief Executive Officer Mark Francis, "we are doing better than we expected and are ready to respond to our customers needs."
While deposits were down slightly in the quarter,
"We continue to be a safe and secure bank for our customers and the community," said Francis. "Our Oroville office construction continues and we expect to open this summer."
Golden Valley continues to be a well-capitalized bank and far exceeds minimum regulatory requirements. More complete financial information can be viewed on the Bank's website.
Golden Valley Bancshares, a bank holding company with its wholly owned subsidiary, Golden Valley Bank is a locally owned and operated commercial bank serving the needs of individuals and businesses in northern California. The Bank has full service offices in Chico and Redding, California. For more information regarding the bank please call at (530) 894-1000 or visit goldenvalley.bank.
Forward-Looking Statements
Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results are pre-fiscal year-end audit and may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes, technological factors (including external fraud and cybersecurity threats), natural disasters, pandemics such as COVID-19 and financial policies of the United States government and general economic conditions. Golden Valley Bancshares disclaims any obligation to update any such factors.
Contact:
Mark Francis
President & CEO
530-894-4920
mfrancis@goldenvalley.bank
SOURCE: GOLDEN VY BANCSHARES INC.
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https://www.accesswire.com/750939/Golden-Valley-Bancshares-Reports-First-Quarter-2023-Results-Unaudited