Pacific Valley Bank Announces Strong Momentum and its Third Quarter 2018 Financial Results
PACIFIC VALLEY BANCORP (PVBK)
Company Research
Source: PR Newswire
SALINAS, Calif., Nov. 5, 2018 /PRNewswire/ -- Pacific Valley Bank (OTCQB: PVBK) announced its unaudited third quarter 2018 net income of $926,087 or $0.23 basic earnings per share (adjusted for 2018 stock dividend). Net income for the first nine months of 2018 was $1,953,304 or $0.49 basic earnings per share, as compared to the first nine months of 2017 with a reported $1,352,944 or $0.34 basic earnings per share.Third Quarter 2018 Financial Highlights (annualized) Return on Average Assets (ROAA): 1.34% Net Interest Margin (NIM): 4.08% Efficiency Ratio: 60.90% Year-to-date 2018 Financial Highlights (annualized) Return on Average Assets (ROAA): 0.97% Net Interest Margin (NIM): 4.18% Efficiency Ratio: 69.31% Anker Fanoe, President and Chief Executive Officer stated, "The third quarter results further enhance the momentum the Bank has been experiencing throughout 2018. Our strategic goals this year have focused on market expansion while supporting the local industries which have been
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