$3 million 2012 profit for bank parent GSB

02/06/2013 12:00 AM

02/05/2013 10:56 PM

Greater Sacramento Bancorp, parent of Bank of Sacramento, continued to roll up profits in 2012.

Coming off a 2011 that saw the banking company more than triple its year-over-year profits, GSB reported 2012 net income of more than $3 million, or $1.15 a share.

That was up from $2.33 million, or 89 cents per share, in 2011.

Net income in last year's fourth quarter was $1.07 million, or 40 cents a share, compared with $601,000, or 23 cents a share, in the final quarter of 2011.

The bank cited improvements in both loan quality and loan volume.

– Mark Glover

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