NAPA -- Bank of Napa (Bulletin Board: BNNP) today reported total assets passed $100 million for the first time in the institution's four-year history.
Total assets were $102.7 million in the third quarter, which ended Sept. 30, a 30.8 percent increase from $78.5 million in the same timeframe in 2009.
"After four years of operation, exceeding $100 million in assets, growing a quality loan portfolio, and improving profitability are noteworthy accomplishments, all of which is testimony to the effort of our board of directors, senior management, and team of employees," said Tom LeMasters, president and chief executive officer.
Equity capital was $16.7 million in the third quarter. The bank said all capital ratios exceeded the regulatory “well-capitalized” threshold.
Third-quarter financial results
In thousands of dollars
Sept. 30, 2010Quarter ended
Sept. 30, 2009ChangeTotal Assets$102,704$78,513$24,191Total Loans$70,951$57,181$13,770Total Deposits$85,655$61,612$24,043