Penny Stock News: Golden Valley Bank Reports First Quarter Earnings

Listed in Penny Stocks, Stock Picks, StockGuru.com, Day Trading, Best Stocks

CHICO, Calif.–(BUSINESS WIRE)–Golden Valley Bank (OTCBB: GVYB),
headquartered in Chico, California reported March 31, 2011 quarterly
earnings of $167,271, down slightly from the quarter ended March 31,
2010 due to the recognition of income taxes for the first time in the
Bank’s short history. This is the 12th consecutive quarterly profit for
Golden Valley which opened in May of 2006.

The Bank’s total assets were $103 million, up 9% from $94.5 million a
year earlier. Deposits were $86.7 million, up 9.6% from $79.1 million on
March 31, 2010. Loans ended the quarter up 5% at $68.2 million compared
to $64.9 million a year ago. The company has set aside $1.6 million in
loan loss reserves to protect it from future economic uncertainties.
Golden Valley continues to be a well capitalized bank and far exceeds
minimum regulatory requirements.

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.

 

Article source: http://www.businesswire.com/news/home/20110503008078/en/Golden-Valley-Bank-Reports-Quarter-Earnings