Yuba City-based bank stays on a roll, new branch set to open

Published: Thursday, Jul. 25, 2013 - 11:24 am

Yuba City-based River Valley Community Bank posted its 24th consecutive profitable quarter for the three months ended June 30.

The bank, opened in 2006, reported a profit of $366,378, 21 cents per share, down from $395,648, 23 cents a share, in the year-ago period.

The most recent quarterly profit was up from net income of $333,569, 19 cents per share, in this year's opening quarter.

The bank also noted that it is on track to open its new full-service branch in Grass Valley on Monday. The branch is at 426 Sutton Way, suite 102.

"While we expect start-up expenses to be a short-term drag on earnings, we believe that longer term, entering that market will prove to be a wise investment," said John Jelavich, bank president and CEO.

Call The Bee's Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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