NAPA – Bank of Napa, N.A. (OTCBB: BNNP) reported its eight consecutive quarterly net profit for the first quarter of 2012, with a net income of $468,000.
The bank earned $295,000 more than during the same quarter in 2011, equating to 20 cents of diluted earnings per share.
Total deposits for the three months ending March 31 were $117.7, a $26.2 million increase from 2011. Loans totaled $80.5 million, representing a $4.3 million increase from the same period in 2011.
Total assets reached $137.1 million at the end of the quarter, 26.1 percent higher than in the first quarter of 2011. Total loans were $80.5 million as of March 31, $4.3 million higher than at the same time in 2011.
The bank reported that it held $18.9 million in equity capital and exceeded the regulatory definition for “well capitalized.”
“These are exciting times for Bank of Napa as we continue to grow and acquire customers in the Napa Valley Marketplace,” said Chairman Malcolm Mackenzie, in a written release.