Two Sacramento-area banks reported year-over-year improvements in second-quarter profits.
Auburn-based Community 1st Bank had net income of $326,000 in the quarter ended June 30, compared to income of $33,000 in the second quarter of 2014. The bank said 2014 earnings were impacted by several nonrecurring charges and a provision for loan losses. Through six months this year, net income totaled $616,000, up from $144,000 in the year-ago period.
Community 1st has branches in Auburn and Roseville and a loan office in Sacramento.
Folsom-based Sierra Vista Bank reported net income of $132,000 in the second quarter, up from a profit $122,000 in second quarter of 2014. Net income through six months of 2015 totaled $245,000, down from a profit of $298,000 in the first half of 2014.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
The bank said first-half 2015 earnings were impacted in part by costs related to the opening of its Fair Oaks branch. Sierra Vista also operates branches in Folsom and Cameron Park.