Business & Real Estate

Folsom Lake Bank continues streak of profitable quarters

Folsom Lake Bank, which has branches in Folsom, Roseville and Rancho Cordova, reported net income of $244,548 in the second quarter ended June 30. It was the bank’s 22nd consecutive profitable quarter.

That was a near match with net income of $244,185 in last year’s second quarter, but the bank noted that 2015 results include a $137,940 provision for taxes, the first year that the bank has begun accruing for taxes.

For the first six months of 2015, net income was $407,760, compared with $476,785 in 2014. Total assets as of June 30 were $160.3 million, up nearly 9 percent from last year.

  Comments