Folsom-based Sierra Vista Bank amassed net income of $312,000 in last year’s fourth quarter, a nearly 260 percent improvement over the same period the previous year.
The strong quarter pushed calendar 2015 profits to $730,000, up almost 55 percent from $475,000 in 2014.
Sierra Vista operates branches in Folsom, Cameron Park and Fair Oaks.
The bank noted that it opened its Fair Oaks branch in June 2014 and saw the full benefits “related to the successful growth in deposits and loans at the Fair Oaks location in 2015.” After 18 months of operations, the bank said its Fair Oaks office reached $31.6 million in deposits.
Never miss a local story.
Assets at the close of 2015 totaled $154.9 million, a 27.3 percent year-over-year increase. Loans totaled $113.6 million, up nearly 33 percent over 2014.