Auburn-based Community 1st Bank, which also has a Roseville branch, reported net income of $831,000 for 2012, a sharp improvement over a loss of $2.5 million in 2011.
The bank pointed to a significant year-over-year reduction in its provision for loan losses $780,000 last year compared with $2.6 million in 2011.
The bank had a fourth-quarter 2012 profit of $368,000, compared with a loss of nearly $1.3 million in 2011.
The bank said it had reduced non-performing loans by 67 percent over the course of a year.
The positive results of the quarter and year are extremely gratifying as it affirms the difficult first steps made in turning around our bank. What a difference a year makes, said Robert Haydon, president and CEO.
See financial details on other banks serving the Sacramento region Friday in The Sacramento Bee and at Sacbee.com.