Golden Valley Bancshares Reports Third Quarter 2021 Results (Unaudited)
CHICO, CA / ACCESSWIRE / October 20, 2021 / Golden Valley Bancshares (OTC PINK:GVYB), with its wholly owned subsidiary, Golden Valley Bank headquartered in Chico, California today reported third quarter 2021 net profit of
Third quarter 2021 financial highlights compared to the third quarter of 2020 include:
- Assets up
$52.0 million to$465.3 million , or12.6% - Loans down -
$48.4 million to$229.5 million , or -17.3% - Deposits up
$60.1 million to$425.1 million , or16.5%
"The economic environment has forced our local small businesses to deal with some very tough challenges and I'm proud, that as a community bank, we have been there to help businesses through this difficult time," said Mark Francis, President and Chief Executive Officer. "We have the products and digital services to support the growth and success of businesses and our bank," added Francis.
Asset quality continues to be excellent as there were no loans considered to be non-performing. By comparison, the average was
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 Valley Bancshares
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