NOVATO - Circle Bancorp, parent company of Circle Bank, reported net income for the second quarter of $263,000, down from $426,000 in the same quarter last year. It was the 40th consecutive profitable quarter for the company.
Total assets at June 30 were $267 million, up 8 percent over 2008. Loans also increased, up 2 percent at $233 million.
"We are very pleased that despite the continuing pressure of a recessionary economy that we continued to operate profitably," said President and Chief Executive Officer Kim Kaselionis. "We have an optimistic outlook based on the increasing interest from our customers in our SBA loan program and our steadily growing asset base."