Central Valley bank earnings fall to $1.7M - The Business Journal of Milwaukee:

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million in the first half of the year, down from earningse of $2.6 million the year earlier period. The bank holding companuy of earned $464,000 in the seconds quarter, down from $1.3 million the year earlier “While we remained profitable, the disappointing earningsx in the second quarterr is a reflection of the increasee provision for credit losses in the lighf of the overall weak economy and the potential impactg it many have on our borrowinb customers during this economic cyclr and the significant increase in the FDIC insurance premiums from both the increasde in regular assessment rates as well as the speciall assessment rate placed on all FDIC insured institutions insecondd quarter,” said Dan Doyle, president of the bank holdin company.
The bank has 15 branches in the Central Valley from the Fresnol areato Sacramento. The bank companhy got $7 million in Capital Purchase Progra m money from the Department of Treasury earliefrthis year. It acquired the Stockton, Lodi and Tracy branches of Serviced 1st Bancorpin November.