Business

Central Valley Community Bank turns $2.47 million first-quarter profit

Fresno-based Central Valley Community Bancorp reported a profit of just under $2.5 million for the first quarter, but that was down by about $150,000 from the same period a year ago.

The parent company of Central Valley Community Bank announced its earnings Wednesday. The net earnings of $2,466,000, or 22 cents per share, were down from $2,616,000 or 24 cents per share in the first quarter of 2014. The company attributed the decline to a combination of lower income from interest and higher expenses.

Central Valley Community shares are traded on Nasdaq under the stock symbol CVCY. The bank’s stock closed Wednesday at $10.73 per share, up 2.77% from Tuesday’s closing price.

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