Written by Gabriel Dillard
Central Valley Community Bancorp, parent company of Fresno’s Central Valley Community Bank, reported net income of $5.29 million in the first quarter, up about 25 percent from the same quarter last year.
“We are pleased with our first quarter financial results, which represent the beginning of the first full year of operations following our second successful acquisition in the Greater Sacramento Region and the fifth in our Bank’s history. A noteworthy accomplishment in the first quarter included the systems conversion from Folsom Lake Bank to Central Valley Community Bank, which brought positive feedback from customers who now have a wider array of products and services to choose from. Our professional team at Central Valley Community Bank continues to develop new, and deepen existing relationships in our growing northern California markets and throughout our footprint,” stated James M. Ford, president & CEO of Central Valley Community Bank and Central Valley Community Bancorp.
“We look forward to financial savings in the second half of 2018 as a result of our branch consolidation work, which is well underway,” concluded Ford.
Total assets as of March 31 $1.62 billion, up from $1.45 billion the year prior.