Central Valley Community Bancorp reported a profit of almost $2.7 million, or 24 cents per share, for the second quarter of the year. That's more than double the $1.3 million, or 12 cents per share, from 2013's second quarter.
Through the first six months of 2014, profits in the Fresno-based parent of Central Valley Community Bank amounted to more than $5.3 million or 48 cents per share, up by almost 73% from the first half of 2013 when net income totaled just over $3 million or 30 cents per share.
Much of the first-half increase was attributed to a rise in interest income, including recovering $861,000 in interest on non-accrual loans. Non-performing loans fell by more than $3.1 million, or more than 40%, between the first halves of 2013 and 2014.
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