Business

Central Valley Bancorp posts higher earnings

Central Valley Community Bancorp, the parent company of Central Valley Community Bank, reported a profit of $2.5 million, or 23 cents per share, for the third quarter of 2015. That compares with $2.3 million and 21 cents for the same period in 2014.

For the first nine months of the year, net income amounted to $8 million, or 73 cents per share.

Total assets as of Sept. 30 were $1.2 billion, compared with $1.1 billion for the same period last year.

“The third quarter financial results were solid for the company. Loan and deposit growth continues as the economic climate in California’s San Joaquin Valley showed ongoing improvement,” said James M. Ford, president and CEO of Central Valley Community Bancorp and Central Valley Community Bank. “We are monitoring economic conditions throughout the San Joaquin Valley and feel the company is well-positioned to take advantage of a number of business sectors showing growth and improvement.”

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