Valley Commerce Bancorp, parent company of Valley Business Bank, reported second-quarter earnings of $1.1 million, or $0.37 per share. That’s an increase over the earnings of $911,000, or $0.31 per share, in the second quarter of 2015.
“We have diligently adhered to conservative credit fundamentals and are confident that our core earnings will remain strong despite looming economic challenges,” said Allan W. Stone, president and CEO. “For the first half of 2016 our net income, return on average equity and return on average assets improved compared to the same period of 2015, and we remain focused on producing strong returns for our shareholders.”
In the first two quarters of 2016, the Visalia-based company announced $2.2 million in income, or $0.75 per share, up from $1.7 million, or $0.58 per share, in the first six months of 2015.
The company’s stock is under the symbol VCBP and is traded on the OTC Pink board. When the markets closed Friday, the company’s stock was selling for $16.20 per share, the same as at close on Thursday.