Bank of Napa declares dividend

On April 19, Bank of Napa declared a cash dividend of 17 cents per share. It is the second annual cash dividend in the ten-year history of the bank, it stated. The cash dividend is payable to shareholders of record at the close of business on May 9 and will be payable on May 16.

The bank reported earnings for the period ending March 31 with net income at $470,000 (16.3 percent increase over the first quarter of 2016).

Deposits for the same period were $221.5 million, an 11.9 percent increase from Q1 of 2016. Loans as of March 31 were $140 million, according to the bank, up 5.7 percent. Total assets of the bank were reported as $249.2 million, an 11 percent increase.

CORRECTION: The financial data for Bank of Napa which was posted April 25 contained data from Q1 of 2016 which were incorrectly reported as the results of Q1 for 2017.