Premier Valley Bank reports $2.1m profit in second quarter

Fresno-based Premier Valley Bank reported net earnings of $2.1 million, or 17 cents per share, for the second quarter of 2015 and $4.3 million, or 35 cents per share, over the first six months of the year. The figures are up compared to the same periods in 2014, when second-quarter earnings were $1.8 million or 14 cents per share, and the first-half profit amounted to $3.6 million or 28 cents per share.

Total assets as of June 30 were $655 million, with a portfolio of loans outstanding at $413 million, both up from a year ago. Premier Valley Bank agreed in May to be acquired by Iowa-based Heartland Financial USA Inc. in a deal that is expected to be finalized later this year.

Premier Valley stock is traded on the OTC Pink over-the-counter board under the symbol PVLY. It closed trading Thursday at $7.65 per share, unchanged from Wednesday’s closing price.

This story was originally published July 23, 2015 at 4:27 PM with the headline "Premier Valley Bank reports $2.1m profit in second quarter."