Tri-Valley Bank narrows Q1 loss
Written on April 17, 2008
Tri-Valley Bank reported a first quarter net loss of $75,000, a narrower loss compared with a loss of $382,000 in the year-ago quarter.
On a per share basis, the bank's loss narrowed to 15 cents per share, compared with a loss of 22 cents a share last year.
The first quarter loss includes a non-cash stock option expense of $235,000.
The San Ramon bank saw its total assets increase to $92 million, up from $72 million in the first quarter of 2007 and up from $86 million at year-end.
The bank ended the first quarter with a loan portfolio totaling $74 million, compared with $54 million last year free credit report.com. On a quarter-over-quarter basis, Tri-Valley's loan portfolio shrank from $77 million at year-end.
Total deposits increased to $75 million, compared with $57 million last year and $64 million at year-end.
The bank's net interest margin, or the difference between what it makes on loans and pays on deposits, declined to 4.57 percent, down from 5.03 percent in the first quarter of last year and 5.15 percent at year-end.
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Filed in: economics.