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New Chairman and Three Directors Join Bank’s Board – Assets and
SAN RAMON, California
Tri-Valley Bank (OTCBB:TRVB) today announced earnings for the first
quarter of 2011. Financial performance highlights for the first three
months of the year ending March 31, 2011, include the following:
- Assets grew during the first quarter to $71.7 million, up from $70.3
million at year-end 2010 and down from $89.2 million at the end of
first quarter in 2010.
- Deposits grew to $57.7 million, up from $55.4 million at year-end and
down from $76.2 million at the end of first quarter 2010.
- Loans, net of allowance for loan losses, decreased to $53.2 million
from $54.7 million at year-end 2010 and from $67.0 million at the end
of first quarter 2010.
- There was a net loss for the first quarter of $324,000 better than the
net loss of $344,000 for the first quarter of 2010 and from the fourth
quarter 2010 net loss of $1.3 million.
- Compared to the fourth quarter of 2010, there was an improvement in
net interest income of $12,000 and in operating expenses of $183, 000
along with a reduction in the loan loss provision of $777,000.
- The Tier 1 leverage ratio decreased slightly to 6.59% on March 31,
2011 from 6.67% on December 31, 2010.
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