Welcome to our dedicated page for Pacific Vy Bk Salinas Calif news (Ticker: PVBK), a resource for investors and traders seeking the latest updates and insights on Pacific Vy Bk Salinas Calif stock.
Pacific Valley Bancorp owns Pacific Valley Bank, an OTC Pink-traded community bank headquartered in Monterey County and serving California's Central Coast. News commonly covers unaudited quarterly results, loan and deposit growth, total assets, net income, shareholders' equity, and regulatory capital measures such as the Community Bank Leverage Ratio.
Company updates also address organic growth initiatives, commercial lending and branch operations, full-service locations in Salinas, King City, Monterey, and Santa Cruz, and balance-sheet categories including C&I, agricultural real estate, commercial real estate, money market accounts, demand deposits, and certificates of deposit. Other recurring items include executive and commercial banking team appointments, facility expansion, and shareholder capital investment that supports the bank's independent local ownership structure.
Pacific Valley Bank (PVBK) reported an 89% increase in net income to $1.13 million for Q1 2021, with earnings per share rising to $0.28. The bank's total assets grew by 40% year-over-year to $466.8 million. Total deposits slightly increased by 0.4% to $424.1 million. The bank's net interest income reached $4.0 million with a net interest margin of 3.61%. However, loan growth was primarily driven by PPP loans, and operating expenses saw a 9% increase compared to Q1 2020.
Pacific Valley Bank (PVBK) reported unaudited earnings for 2020, with net income of $3.25 million, up 21% from 2019. Earnings per share reached $0.81, compared to $0.67 the previous year. The fourth quarter net income was $939 thousand, a decrease of 4.09% from the prior quarter but a 39% increase year-over-year. Total assets grew to $464.9 million, reflecting a 32% increase from 2019. Total deposits rose 35% to $423.4 million, while total gross loans increased by 27%, although net loans excluding PPP loans declined slightly.