Strong loan performance drives Greater Sacramento Bancorp profits

Published: Monday, Apr. 14, 2014 - 11:00 am

Greater Sacramento Bancorp, parent of Bank of Sacramento, reported net income of $626,000, or 23 cents per share, in this year’s first quarter ended March 31.

That was a nearly 14 percent improvement over a profit of $550,000, or 21 cents a share, in the first quarter of 2013.

The bank said its “core earnings” continued to improve, with net interest income in this year’s initial quarter totaling $3.66 million, up almost 10 percent from $3.37 million in the year-ago period.

“We are experiencing continued loan growth as a result of slow but steady improvement in the local economy and, more importantly, because of our very active marketing programs. In fact at the end of first quarter 2014, our total loans outstanding reached an all-time high of $274.6 million,” said William Martin, GSB’s chairman and CEO.

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

Read more articles by Mark Glover

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