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Santa Clara Valley Bank releases results for Q1

Posted: May 3, 2012 2:00 a.m.
Updated: May 3, 2012 2:00 a.m.
 

Santa Clara Valley Bank announced its 2012 first quarter results April 26.

SCV Bank, based in Santa Paula, reported a net profit of $181,000 for the first quarter of 2012, compared with a net profit of $131,000 for the first quarter of 2011.

The bank reported the improvement in earnings was largely due to the improvement in noninterest income and the reduction of non-interest expenses. 

SCVBank continues to maintain a strong capital position with a Tier 1 Leverage Capital Ratio of 11.27 percent, up from 10.37 percent a year ago, the report said. 

It also reported liquidity continues to be very strong as cash and investments total $56,753,000, or 43 percent, of total assets at quarter end.

None of the bank’s officers commented on the first quarter earnings.

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