North Valley Bancorp has profitable 2012
02/07/2013 12:00 AM
02/07/2013 7:47 AM
Redding-based North Valley Bancorp, parent company of North Valley Bank, more than doubled its year-over-year profits in 2012.
North Valley reported 2012 net income of nearly $6.3 million, or 92 cents a share, compared with income of $3 million, or 45 cents a share, in 2011.
NVB reported second-quarter net income of $1.2 million, or 18 cents a share, compared with a profit of $519,000, or 8 cents per share, in the same period of 2011.
The company amassed net income of $545,000, or 8 cents a share, in last year's fourth quarter, down from $809,000, or 12 cents a share, in the last quarter of 2011.
Michael Cushman, president and CEO, said 2012 was "a year of many successes and positions us well for 2013."
As of Dec. 31, the banking company had total assets of $902.3 million.
NVB operates 22 Northern California commercial bank offices, including in Placer and Yolo counties.
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