Quantcast

North Bay Business Journal

Thursday, January 16, 2014, 5:14 pm

Bank of Napa reports growth in 2013

By

Print Friendly Print Friendly    

Share this item

    NAPA — Bank of Napa, N.A. (OTCBB: BNNP) on Thursday reported a 6.7 percent increase in net income in 2013, 13.2 percent rise in loans and 11.1 percent boost to net assets.

    Bank of NapaThe bank had net income of $1,926,000 as of Dec. 31. Loans totaled $99.2 million, and net assets were $166.5 million.

    “Despite operating in an industry that experienced tepid loan demand and compressed margins, we are pleased to have substantially increased the size of our balance sheet with new customer relationships,” Tom LeMasters, president and chief executive officer. “For the year, we produced strong earnings for our shareholders and our credit quality remains sound.”

    The bank earned 83 cents per share for both years. Its return on assets was 1.27 percent for 2013, compared with 1.39 percent for 2012. Return on equity for 2013 was 9.23 percent, compared to 9.92 percent in the prior year.

    Bank of Napa reported equity capital of $21.4 million as of Dec. 31. The bank noted its five-star rating from Bauer Financial for financial strength.

    The price of the bank’s stock was unchanged Thursday at $8.52 a share.

    Copyright © 1988–2014 North Bay Business Journal
    View the policy for linking to website content.

    Print Friendly Print Friendly    

    Submit Your Comments

    Required

    Required, will not be published

    Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments and Letters Policy. To share this item by email or social media, use the links above.

    Do not use this form to contact people, companies or organizations mentioned in this story. Contact them directly. Private messages left here will be deleted.