[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

SCVNews.com | Mission Valley Bank Posts 29% Jump in 2Q Profits | 07-26-2016
Santa Clarita CA
Partly sunny
Partly sunny
Today in
S.C.V. History
September 27
2014 - Towsley Canyon Loop Trail named for naturalist Don Mullally [story]

mvb_valenciaMission Valley Bancorp announced Tuesday the company’s year to date net income of $1,603,000 for the period ended June 30, 2016 – the strongest 2nd quarter close in the history of the company.

President and CEO Tamara Gurney stated, “As Mission Valley marks our 15th year of operation, I am very pleased to report the strongest 2nd Quarter close in the history of the organization. Net Income as of June 30, 2016 topped $1,603,000, a 28.6 percent year over year increase and testament to continued strong and consistent earnings. Earnings per share through the second quarter of 2016 totaled $0.48.”

Total Assets increased $28.8 million or 10.7 percent to $299 million for the period ended June 30, 2016 as compared to $270 million for the same period last year. Asset growth was driven by a $40.5 million or 22.7 percent year over year increase in Net Loans funded by a 10.7 percent year over year increase in Total Deposits. Net Loans grew to $218.9 million as of June 30, 2016 as compared to $178.4 million for the same period last year. Total Deposits grew to $253.6 million as of June 30, 2016 (primarily due to an increase of $30.1 million in Non-Interest Bearing Deposits) as compared to $229.2 million reported for the same period last year. Net Interest Income for the period ended June 30, 2016 was $5.27 million (after provision for loan losses), a decline of $482,000 or 8.4 percent as compared to $5.76 million for the same period last year. Total Other Income for the quarter ended June 30, 2016 was $2.54 million, an increase of more than $1 million or 65.3 percent as compared to $1.54 million for the same period last year. Total Operating Expense for the period ended June 30, 2016 was $5.2 million, a slight decline of $71,000 as compared to $5.3 million for the same period last year.

Both Mission Valley Bancorp and Mission Valley Bank capital ratios continue to exceed regulatory requirements with Mission Valley Bancorp reporting a Total Leverage Ratio of 14.1 percent, Common Equity Tier 1 Capital Ratio of 10.5 percent, Tier 1 Capital Ratio of 17.3 percent, and a Total Capital Ratio of 18.5 percent. Likewise, Mission Valley Bank reported a Total Leverage Ratio of 13.8 percent, Common Equity Tier 1 Capital Ratio of 16.8 percent, Tier 1 Capital Ratio of 16.8 percent, and a Total Capital Ratio of 18.1 percent. Regulatory requirements for a “well-capitalized bank” are 5 percent, 6.5 percent, 8 percent and 10 percent, respectively.

Gurney continued “2016 has provided our company a number of reasons to celebrate. In addition to marking our 15th year serving our communities, we have received a number of notable accolades including the following: the prestigious Findley Reports named Mission Valley a ‘Super Premier Performing Bank’, VERIBANC ranks Mission Valley as a 3 Star Green / Blue Ribbon institution (the VERIBANC Blue Ribbon Bank Commendation of Excellence is the country’s oldest formal recognition of banks which have met exceptionally high standards), Bauer Financial lists our Bank as one of the safest in the Nation with a ‘Superior 5 Star Rating’ and most recently, DepositAccounts.com named Mission Valley among the Nations ‘Top 200 Healthiest Banks for 2016’.”

Gurney concluded, “As we celebrate our 15th year, I want to take this opportunity to thank our clients, shareholders, the communities we serve as well as our tremendous team for making our success possible. Together we have built a strong organization where we are committed to defining new and better ways to serve our local communities as true Trusted Advisors.”


About Mission Valley Bank

Mission Valley Bank is a full-service, independent, commercial bank specializing in the banking needs of small to medium businesses in the San Fernando & Santa Clarita Valleys. The Bank was chartered in July 2001, with a vision of local ownership and a commitment to providing financial solutions to meet the needs of its clients.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.


You can be the first one to leave a comment.

Leave a Comment

NASDAQ5305.71  chart +0.92%
S&P 5002159.93  chart +0.64%
Bank Santa Clarita11.30  chart +0.00%
Biosolar, Inc.0.101  chart +12.22%
Sierra Bancorp18.24  chart +0.94%
Cu Bancorp (ca)23.77  chart -1.16%
Enable Ipc Corp0.0007  chart +0.00%
Flextronics International Ltd.13.69  chart +0.66%
Linn Energy Llc Unit Repstg Ltd0.0525  chart +6.92%
Linn Co Llc Com Shs Repstg Ltd 0.05  chart +0.00%
Mannkind Corporation0.6153  chart +7.81%
Mission Vly Bcp Ca7.99  chart +0.00%
Quest Diagnostics Incorporated 84.88  chart +0.32%
Tejon Ranch Co Common Stock24.17  chart +0.92%
Us Energy Initiative0.0004  chart +0.00%
Wesco Aircraft Holdings, Inc. C13.52  chart +0.37%

Apple Inc.113.09  chart +0.19%
At&t Inc.41.46  chart +0.78%
Autonation, Inc. Common Stock47.66  chart -0.33%
Best Buy Co., Inc. Common Stock38.25  chart +1.97%
Big Lots, Inc. Common Stock47.41  chart +2.57%
Barnes & Noble, Inc. Common Sto10.88  chart -0.73%
Brady Corporation Common Stock34.70  chart -0.14%
Boston Scientific Corporation C23.72  chart -0.04%
N/a24  chart +0.00%
Cbre Group Inc Common Stock Cla28.29  chart +0.07%
Carnival Corporation Common Sto48.35  chart +4.05%
Comcast Corporation66.17  chart +0.55%
Costco Wholesale Corporation150.45  chart -0.49%
Curtiss-wright Corporation Comm90.02  chart +1.69%
Cvs Health Corporation Common S90.56  chart +0.71%
Cemex, S.a.b. De C.v. Sponsored7.94  chart +5.17%
D.r. Horton, Inc. Common Stock30.02  chart +0.33%
Walt Disney Company (the) Commo91.72  chart -0.26%
Edison International Common Sto74.24  chart -1.73%
Hyatt Hotels Corporation Class 48.72  chart -0.20%
Home Depot, Inc. (the) Common S126.82  chart +1.09%
Kb Home Common Stock16.41  chart +2.12%
Kroger Company (the) Common Sto29.90  chart -0.60%
Lennar Corporation Class A Comm42.72  chart -0.54%
Laboratory Corporation Of Ameri137.79  chart +0.56%
Linn Energy Llc Unit Repstg Ltd0.0525  chart +6.92%
Linn Co Llc Com Shs Repstg Ltd 0.05  chart +0.00%
Lowe's Companies, Inc. Common S71.50  chart +0.97%
Marriott International67.05  chart -0.15%
Mcdonald's Corporation Common S116.88  chart +0.30%
Mitsubishi Ufj Financial Group,5.22  chart -1.32%
Netflix, Inc.97.07  chart +2.65%
Office Depot, Inc.3.62  chart +0.56%
Rite Aid Corporation Common Sto8.07  chart +0.37%
Rexford Industrial Realty, Inc.23.07  chart -0.43%
Regal Entertainment Group Class21.60  chart +1.27%
Ross Stores, Inc.64.39  chart +0.99%
Republic Services, Inc. Common 50.77  chart -0.02%
N/aN/A  chartN/A
Starbucks Corporation54.19  chart +0.28%
Smart & Final Stores, Inc. Comm12.62  chart +0.88%
Sears Holdings Corporation11.20  chart +1.91%
Six Flags Entertainment Corpora54.00  chart +0.00%
Sonova N135.50  chart -0.07%
Staples, Inc.8.36  chart +0.60%
Sunpower Corporation8.70  chart +5.20%
Target Corporation Common Stock68.29  chart +1.59%
Time Warner Cable Inc209.56  chart +0.00%
Ulta Salon, Cosmetics & Fragran243.66  chart +2.46%
Walgreens Boots Alliance, Inc.80.97  chart +0.36%
Waste Connections, Inc. Common 74.32  chart +0.05%
Whole Foods Market, Inc.28.46  chart -0.66%
Waste Management, Inc. Common S63.89  chart +0.61%
Wal-mart Stores, Inc. Common St72.33  chart +0.99%
Woodward, Inc.61.41  chart +0.67%

Latest Additions to SCVNews.com
The Santa Clarita Valley Economic Development Corp. received a Gold Excellence in Economic Development Award on Tuesday for its 2016 "Still Golden" campaign project in the category of Special Purpose Print Brochure from the International Economic Development Council.
Peers Say SCV Economic Development Corp. is Pure Gold
The annual Fight It race raises thousands of dollars to help young professionals across The United States battling cancer by providing financial assistance.
Oct. 8: 5K Race is On for Brenda Mehling Cancer Fund
Drawing is seeing. Recognizing the lines and shapes of objects around us, we can learn to draw what we see and advance our drawing skills. Join the ARTree for a beginner-level class in drawing with a highly experienced educator and artist.
New ARTree Class: Basic Drawing for Kids; more
"Startup Weekend SCV 2016" is going to help aspiring entrepreneurs grow their startup from an idea to a business in 54 hours.
Nov. 4: Local Entrepreneurs Have Opportunity to Test Out Startup Ideas
Noah's Park Preschool is hosting the 3rd annual Trunk-or-Treat on Friday, October 21 from 6 p.m. to 8 p.m.
Oct. 21: Trunk-or-Treat Returns to Noah’s Park Preschool
Social justice warriors at the University of Kansas screamed obscenities at white students who didn’t feel the need for "safe spaces." Imagine that. The self-proclaimed warriors of civility and equality respond to what was supposed to be an open conversation by shouting them down, using foul language, and screaming in the faces of students with a different viewpoint.
The Safe Spacers
2014 - Towsley Canyon Loop Trail named for naturalist Don Mullally [story]
"Instead of arresting and stigmatizing young child sex trafficking victims, law enforcement will now play a critical role in helping these girls get the support and treatment they need to escape life on the streets," Supervisor Don Knabe said.
Knabe Praises Brown for Decriminalizing Prostitution for Minors
Tonight on SCV NewsBreak, the Valencia Ice Station ATM is stolen and Golden Valley High School students learn about preventing domestic violence. Plus, Be the Light 5k and a woman fights an aggressive form of cancer.
SCV NewsBreak for Monday, September 26, 2016
More than 4,000 students and their families attended William S. Hart Union High School District’s 6th Annual College & Career Fair at Golden Valley High School Thursday evening.
Thousands Attend Hart District College, Career Fair
After battling through a pair of five-set victories against Biola University and Vanguard University last week, The Master’s University’s Allison Child has been named the GSAC’s Attacker of the Week while Kayla Sims was pegged as the conference’s Setter of the Week.
Volleyball: 2 Lady Mustangs Earn Weekly Conference Kudos
TMU’s 2016 record improved to 12-5 and 5-1 in Golden State Athletic Conference play following Saturday’s victory. Notably, the Lady Mustangs currently sit one match behind conference-leader and No. 3 nationally ranked Westmont College 17-0 (6-0).
Volleyball: Lady Mustangs Tame Lions in 5 Sets
Author Maggie Nelson, chair of the MFA Creative Writing Program at CalArts, on Sept. 22 was named a 2016 MacArthur Fellow — more commonly known as the MacArthur “genius” grants. She joins 22 other fellows who receive a no-strings-attached $625,000 award for their creativity and the potential for future contributions to their chosen fields.
CalArts’ Creative Writing Chair Wins MacArthur ‘Genius’ Grant
The Herb Alpert School of Music at CalArts kicks off this year’s Wild Beast Concert Series on Saturday, Oct. 1, with "We Are Birds: An Evening of Bird Singing from Native Southern California."
Oct. 1: CalArts Wild Beast Series Kicks Off with Native SoCal Birdsinging
The animated film featuring the story of 91-year-old Holocaust survivor Lidia Budgor, created by a group of College of the Canyons students, will be the main focus of the COC Student Gallery’s inaugural exhibit, which opens Friday, Sept. 30, in the Valencia campus library.
COC Library’s New Student Gallery to Feature Holocaust Survivor Story
Over 300 male student athletes at Golden Valley High School attended a presentation from the Domestic Violence Center of Santa Clarita on violence against women and girls and how it can be prevented.
Golden Valley Boys Hear Presentation on Domestic Violence
This month’s Hiring Fest on Friday, Sept. 30, will feature employers from the manufacturing field. It will be held at the College of the Canyons University Center, 26455 Rockwell Canyon Road.
Sept. 30: Manufacturing Jobs Up for Grabs
The Los Angeles County Superior Court is currently seeking qualified citizens who are interested in applying for the 2017-2018 Los Angeles County Civil Grand Jury.
Superior Court Taking Names for Civil Grand Jury
The City of Santa Clarita has received the Certificate of Excellence Award from the Association of Public Treasurers of United States and Canada for its Fiscal Year 2016-17 Investment Policy and the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its Comprehensive Annual Financial Report (CAFR) for Fiscal Year 2014-15.
City Wins Awards for Investment Policy, Financial Reporting
Residents of all ages are invited to become astronomers and engineers for a day while attending Astronomy Day 2016 on Saturday, Oct. 8, from 10 a.m. to 3 p.m. This free event is being sponsored by the Santa Clarita Public Library in partnership with The Local Group Astronomy Club of Santa Clarita. In addition to the day’s events, a special night sky viewing will be held at 7 p.m.
Oct. 8: Be an Astronomer for a Day
A group of burglars drove a pickup truck through the glass front doors of the Valencia Ice Station and stole the business’ ATM, while the business was closed Sunday.
Burglars Run Truck Through Valencia Ice Station for ATM Machine
See what's coming from the Santa Clarita Valley Chamber of Commerce.
SCV Chamber This Week (9-26-2016)
Canyon Country (West) Crime Report for the week of 09/11/16- 09/17/16
Crime Blotter: Gun Stolen, Man Punches Woman in CC-West
Canyon Country (East) Crime Report for the week of 09/11/16- 09/17/16
Crime Blotter: 2 Ford E-350s Stolen in CC-East
Newhall Crime Report for the week of 09/11/16- 09/17/16
Crime Blotter: Robberies, Burglaries in Newhall
Valencia Crime Report for the week of 09/11//16 - 09/17/16
Valencia Crime Blotter: Attack with Brick, Robbery with Taser, more
Saugus Crime Report- Week of 09/11/16 - 09/17/16 Santa Clarita Valley Sheriff’s Station Crime Prevention Unit
Crime Blotter: Burglary, Knife Threat in Saugus
Castaic/ Val Verde Crime Report for the Week of 09/11/16 - 09/17/16
Crime Blotter: Thefts in Castaic Area
Stevenson Ranch Crime Report- Week of 09/11/16 -09/17/16
Bank Robbery Tops Stevenson Ranch Crime Blotter
Responding to lessons learned from the massive Aliso Canyon natural gas leak, Gov. Jerry Brown on Monday signed a bill by Sen. Fran Pavley to establish proactive safety standards for natural gas storage wells.
Brown Signs Pavley Bill for Natural Gas Storage Safety
1876 - California oil industry born as CSO No. 4 in Pico Canyon becomes state's first commercially productive oil well [story]
I have taken many walks on the plains of Tanzania with Masai body guards armed with spears and occasionally rifles. It is rather unnerving to think at any moment, you could become prey to a lion, cheetah or another apex predator.
World’s Deadliest Creatures
1970 - Lagasse family helps save Mentryville buildings as Newhall and Malibu brush fires erupt & join into worst fire in SoCal history. Twelve fires over 10 days burn 525,000 acres, kill 13 people and destroy approx. 1,500 structures. [story]
The College of the Canyons men's soccer team played to a scoreless draw vs. West Hills Lemoore on Friday in a game that saw lots of back-and-forth action.
Men’s Soccer: COC Plays to Scoreless Draw with West Hills Lemoore
The College of the Canyons cross country program continues to improve each race, and with the Western State Conference championships a little less than a month away, the Cougars could be peaking just in time for another strong postseason run.
Cross Country: Cougars Keep Improving
1855 - Sanford & Cyrus Lyon establish Lyon's Station (for stagecoaches) near today's Sierra Hwy & Newhall Ave [story]