NAPA -- Bank of Napa third-quarter net income increased 240 percent to $249,000, up $176,000 from the same quarter a year before.
In the nine months ending Sept. 30, the bank reported net income of $641,000 up from $36,000 in the same period last year.
Bank of Napa had the largest annual increase in market share of deposits -- reaching 4.4 percent -- among the 16 banks doing business in Napa County, according to first-half FDIC figures the bank cited.
"Balance sheet growth, credit quality and liquidity remain strong, and we are pleased with our substantial improvement in profitability," said President and CEO Tom LeMasters.
At the end of the third quarter, deposits totaled $113.2 million, up $27.2 million from a year before; loans, $79.3 million, up $8.3 million; and total assets, $131.4 million, up 27.9 percent. Bank of Napa had $17.5 million in equity capital at quarter end.