NAPA – Napa Community Bank reported net income of $439,000 for the second quarter of 2009, and a record $926,000 for the first half of 2009, up $458,000 from the first half of 2008.
The bank reported total assets of $158.2 million at June 30, 2009, an increase of $22 million or 16.2 percent from a year ago. Portfolio loans grew to $137.2 million, up from $118.5 million a year ago, an increase of 15.7 percent.
Deposits on June 30, 2009 amounted to $116.6 million, an increase of $12.8 million or 12.3 percent compared to a year ago.
“In a very tough economic environment we are reporting record earnings for the six months ending June 30, 2009. What our employees and directors are most proud of is that this marks the bank’s 25th consecutive quarter of profitability,”said Dennis Pedisich, president and chief executive officer. “These continued positive results reflect the hard work of the bank’s staff and management and the loyalty and support of our customers. We work closely with our customers in good times and even more closely in tough times, because their success keeps us successful, too.”
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