Valencia Bank Earnings Rise 34% to $101,399
Valencia National Bank, a three-branch bank based in Santa Clarita, reported a 34% increase in earnings for the second quarter ended June 30.
The 8-year-old bank posted a profit of $101,399 for the quarter, compared to $75,647 in the corresponding period a year earlier. For the first six months of the year, the company reported earnings of $218,553, up 72% from $127,413 a year earlier.
Assets totaled $80.8 million at the end of the second quarter, up 4% from $77.4 million a year earlier. Non-performing assets totaled $906,000, down 16% from $1.08 million a year earlier.
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