Valley Business Bank reports record first-quarter profit

Valley Commerce Bancorp, the Visalia-based parent company of Valley Business Bank, reported a profit of $1.1 million, or 38 cents per share, the most profitable first quarter of any year since the company was established in 1996.

The first-quarter net earnings were up from $795,000, or 27 cents per share, from the first three months of 2015.

Between the first quarters of 2015 and 2016, the company increased its loan portfolio by about $38.3 million, while the value of its nonperforming loans fell from $2.76 million last year to $1.45 million.

Valley Commerce Bancorp stock is traded on the OTC Pink over-the-counter board under the stock symbol VCBP. Shares in the company closed Monday at $15.90 per share, down 0.31% from Friday’s close.

This story was originally published April 18, 2016 at 4:27 PM with the headline "Valley Business Bank reports record first-quarter profit."