Welcome to our dedicated page for Golden Vy Bancshares news (Ticker: GVYB), a resource for investors and traders seeking the latest updates and insights on Golden Vy Bancshares stock.
Golden Valley Bancshares Inc. (GVYB) operates as a pillar of northern California's banking community, providing essential financial services through its Golden Valley Bank subsidiaries. This dedicated news hub offers investors and stakeholders timely access to official announcements, strategic developments, and operational updates.
Discover comprehensive coverage of GVYB's financial milestones, including earnings reports and capital management strategies. Stay informed about branch network expansions like the Oroville office opening and initiatives reinforcing the bank's commitment to local communities.
Our curated news collection features regulatory compliance updates, leadership insights from CEO Mark Francis, and analyses of market position within California's competitive banking landscape. Track the institution's progress in maintaining exceptional asset quality and deposit growth trends.
Bookmark this page for direct access to primary source materials from Golden Valley Bancshares, ensuring you receive unfiltered updates about this community-focused financial institution's operations and achievements.
Golden Valley Bancshares, Inc. (OTC PINK: GVYB) has appointed Thomas Hughes to its Board of Directors, expanding the board to twelve members. Hughes, a 32-year veteran from Interwest Insurance Services, brings extensive experience and community involvement to the position. He is an original shareholder of the bank and has held leadership roles in various local organizations. According to CEO Mark Francis, Hughes will enhance the board's skills and community commitment, supporting the bank's mission in Northern California.
Golden Valley Bancshares (OTC PINK: GVYB) reported a strong financial performance for the fourth quarter of 2021, with a net profit of $1,087,756, marking a 15.3% increase compared to the previous year. Year-to-date profits reached $5,159,320, up 26.0%. Key highlights include a 16.6% rise in assets to $473.7 million and a 19.2% increase in deposits to $432.8 million. However, loans decreased by 9.9% to $239.2 million, attributed to the forgiveness of SBA loans. The bank maintains excellent asset quality with no non-performing loans.
Golden Valley Bancshares, trading under GVYB, reported a net profit increase of 35.6% in Q3 2021, totaling $1,327,870, and a year-to-date profit of $4,071,564, up 30.3% from last year. Pre-tax earnings for Q3 reached $1,904,870, reflecting a 36.9% rise. Key financial highlights include a 12.6% increase in assets to $465.3 million and a 16.5% rise in deposits to $425.1 million, while loans decreased by 17.3%. The bank's asset quality remains excellent, with no non-performing loans and a robust $4.6 million in loan loss reserves.
Golden Valley Bancshares (OTC Markets: GVYB) recently welcomed three new members to its Board of Directors: Michael Phulps, Brent Largent, and Sierra Grossman. This expansion brings the total Board membership to eleven. Phulps, the CFO of Metal Works, contributes industrial sector expertise. Largent, founder of Stratti, adds IT support experience, while Grossman enhances the board with her background in the craft beer industry and corporate social responsibility. CEO Mark Francis expressed enthusiasm for their leadership and community involvement.
Golden Valley Bancshares (OTC PINK:GVYB) reported a second quarter 2021 net profit of $1,317,255, marking a 33.3% increase from the previous year. Year-to-date net profit reached $2,743,694, a 27.8% rise. Pre-tax earnings for Q2 were $1,899,255, up 34.3% year-over-year. Total assets grew by $26.5 million, while loans decreased by $33.4 million. The Bank processed forgiveness for 98 PPP loans totaling $26.9 million. Asset quality remains strong with no non-performing loans and adequate loan loss reserves of $4.5 million.
Golden Valley Bancshares (GVYB) reported a first-quarter 2021 net profit of $1,426,439, an increase from $1,157,956 in 2020. Key financial highlights include:
- Assets: up $106.9 million (32.1%) to $440.1 million
- Loans: up $76.9 million (40.6%) to $266.1 million
- Deposits: up $102.4 million (34.8%) to $397 million
The bank funded $28.8 million in PPP loans to 240 businesses and maintains excellent asset quality with no non-performing loans.
Golden Valley Bancshares (GVYB) reported a strong financial performance for Q4 2020, with a net profit of $943,551, increasing from $803,747 in Q4 2019. Year-to-date profits also rose to $4,093,157 compared to $3,991,884 in 2019. Key metrics include a 13.8% rise in assets to $406.3 million, a 44.5% increase in loans to $265.5 million, and a 23.1% growth in deposits to $363 million. The bank maintains excellent asset quality, with no non-performing loans, and has set aside $4.0 million in loan loss reserves to manage potential economic uncertainties.
FAQ
What is the current stock price of Golden Vy Bancshares (GVYB)?
What is the market cap of Golden Vy Bancshares (GVYB)?
