published on July 20, 2017 - 12:50 PM
Written by The Business Journal Staff

Communities First Financial Corporation, parent company of Fresno First Bank, reported net income of $915,000 for the second quarter, up 24 percent from the same period last year.

For the first six months of the year, net income was $1.8 million, up 22 percent from the first six months of 2016.

“With increasing profitability, our second quarter results demonstrate our success in building a sustainable franchise in California’s Central Valley,” said Steve Miller, President and CEO. “Our net interest income increased 21% from a year ago. We are growing our loan portfolio, increasing core deposits and generating strong margins.”

Total assets increased 20 percent to $352 million on June 30 compared to $292.3 million at June 30, 2016, and remained unchanged from the preceding quarter.

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