Placerville-based El Dorado Savings Bank, which operates 32 branches in California and three in northern Nevada, reported a profit of nearly $2.8 million in the second quarter of this year, a nearly 30 percent spike over last years second-quarter net income of $2.17 million.
Through six months this year, profits totaled $5.9 million, a 54 percent improvement over $3.83 million in the same year-ago period.
In a statement accompanying the quarterly financial report, CEO George L. Cook Jr. said higher rates on new loans and investments improved the banks profit margin.
The bank also noted that it ended the first half of 2014 with no foreclosed properties on the books.
Call The Bees Mark Glover, (916) 321-1184.