Penny Stock News: Tri-Valley Bank Announces First Quarter 2011 Earnings and Stock Offering

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New Chairman and Three Directors Join Bank’s Board – Assets and
Deposits Grow

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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Article source: http://insurancenewsnet.com/article.aspx?id=260964&type=newswires