header image

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

Inside
Weather
Santa Clarita CA
Clear
Clear
56°F
 
Calendar
Today in
S.C.V. History
October 29
1932 - Highway 99 completed through Weldon Canyon, bypassing Ridge Route [story]
Hwy 99


Mission Valley Bancorp logoSUN VALLEY – Mission Valley Bancorp President & CEO Tamara Gurney announced year-to-date net income of $2.2 million for the period ended June 30, 2017, the strongest mid-year results in the history of the company.

“I am pleased to share that Mission Valley Bancorp has once again achieved a record high for the first half of the year, reaching net income of $2,213,000, a 38.05 percent increase over the $1,603,000 reported at June 30, 2016,” Gurney stated.

“Our continued steady earnings reflect our ongoing dedication to maintaining our course of controlled growth and profitability,” he said. “Through the first half of 2017, we continue to see solid performances across all business units, resulting in an increase in earnings per share to $0.67 as of June 30, 2017, up 40.0% from the $0.48 reported at June 30, 2016.”

Net Interest Income (after provision for loan losses) increased more than 17.1 percent, closing the first half of 2017 at $6.66 million up from the $5.69 million reported on June 30, 2016. Gain on sale of SBA Loans in the secondary market remained strong for the first half of the year, closing June with $781,000. Total other income grew more than 12.9 percent as of June 30, 2017, reaching $2.40 million, from $2.13 million reported as of June 30, 2016.

Net loans held steady through the close of the second quarter at $241.8 million as of June 30, 2017, compared to $239.4 million at year end, December 31, 2016. Total assets closed the second quarter 2017 at $313.9 million, down slightly (3.53 percent) from $325.4 million, reported December 31, 2016. Total deposits closed the second quarter of 2017 at $263.3 million, a 5.27 percent decrease from $278.0 million as of December 31, 2016. Total liabilities closed the second quarter of 2017 at $274.1 million as compared to $287.8 million at year end, December 31, 2016.

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 14.4%, Common Equity Tier 1 Capital Ratio of 11.4%, Tier 1 Capital Ratio of 17.7 percent, and a Total Capital Ratio of 18.9%. Likewise, Mission Valley Bank reported a Total Leverage Ratio of 14.1 percent, Common Equity Tier 1 Capital Ratio of 17.3%, Tier 1 Capital Ratio of 17.3%, and a Total Capital Ratio of 18.5 percent. Regulatory requirements for a “well-capitalized bank” are 5 percent, 6.5 percent, 8 percent and 10 percent, respectively.

Gurney concluded, “Mission Valley is a relationship driven, community based business bank. We have built an extraordinary team and culture, dedicated to ensuring that we do what is right for our clients, our shareholders and the communities we serve. The combination of a sound, diversified balance sheet, solid capital base, and strong team, steer our course of steady and controlled growth throughout 2017 and beyond.”

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.

For more information, go to www.MissionValleyBank.com.

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.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
1932 - Highway 99 completed through Weldon Canyon, bypassing Ridge Route [story]
Hwy 99
The Los Angeles County Department of Public Health on Wednesday confirmed 20 new deaths and 1,351 new positive cases of COVID-19 in the past 24 hours, with 18 new cases reported in the Santa Clarita Valley.
Wednesday COVID-19 Roundup: L.A. County Cases Near 1,200 Per Day, 18 New SCV Cases
Los Angeles Dodgers third baseman Justin Turner was "wrong" to have returned to the field at Globe Life Field in Arlington, Texas, to celebrate the team's Game 6 World Series victory over the Tampa Bay Rays Tuesday night -- after he had tested positive for COVID-19.
MLB: Turner ‘Wrong’ to Take the Field After Positive COVID-19 Tests
The Santa Clarita Valley Water Agency has filed a lawsuit against 3M Company, Chemours, DuPont and several other companies for their roles in introducing toxic chemicals into the local water supply.
SCV Water Sues PFAS Makers Over Toxic Chemicals in Local Water
Saugus High School teacher Jim Klipfel, one of five California Teachers of the Year for 2021, has also been chosen to represent the state in the National Teacher of the Year competition in the spring.
California Names 2021 Teachers of the Year; Saugus High’s Klipfel to Nationals
Washington, Oregon and Nevada have joined California’s COVID-19 vaccine Scientific Safety Review Workgroup, which will independently review the safety and efficacy of any COVID-19 vaccine approved by the FDA for distribution.
Western States Join California’s COVID-19 Vaccine Safety Review
The Santa Clarita Public Library will celebrate Native American Heritage Month with a variety of activities all November long.
Celebrate Native American Heritage Month with Santa Clarita Library
The Los Angeles Dodgers won Game 6 of the 2020 World Series, besting Tampa Bay 3-1 at Globe Life Field in Arlington, Texas, Tuesday night.
Dodgers Win 2020 World Series; Stadium Team Stores to Open Thursday
The Santa Clarita City Council celebrated the opening Tuesday for its newest “transit-friendly” facility at Vista Canyon in Canyon Country, alongside officials from Metrolink and Metro, or the Los Angeles County Metropolitan Transportation Authority.
City Council Holds Ribbon-Cutting for New Vista Canyon Structure, Metrolink Station
The Sulphur Springs Union School District governing board is set to discuss the reopening plan for the California State Preschool Programs during their virtual meeting Wednesday night.
Sulphur Springs to Discuss Preschool Reopening
Dr. Sharon Langenbeck, a longtime member of Zonta Club of Santa Clarita Valley, was installed as Zonta International President for the 2020-22 biennium on July 17, 2020.
SCV’s Sharon Langenbeck Installed as Zonta International President
1949 - Fatal crash of light plane in Haskell Canyon sparks 3,500-acre brush fire [story]
news report
The city of Santa Clarita celebrated not one but two milestones Tuesday at the Vista Canyon development.
City Celebrates New Vista Canyon Development with Groundbreaking, Ribbon-Cutting
The Los Angeles County Department of Public Health confirmed Tuesday 29 new deaths and 1,586 new cases of COVID-19, including 7,185 total cases in the Santa Clarita Valley.
L.A. County Public Health: Uptick in COVID-19 Cases ‘Cause for Concern’
Los Angeles County Health Officer, Muntu Davis, MD, MPH is issuing a Health Advisory for private gatherings and public celebrations advising Los Angeles County residents that the potential risk of COVID-19 transmission at such celebrations is high based on the increasing rate of COVID-19 community transmission in Los Angeles County.
Health Advisory Issued for Private Gatherings, Public Celebrations
Santa Clarita Community College District Board of Trustees will hold a joint meeting with the Associated Student Government via Zoom video conferencing Wednesday, Oct. 28, at 1:30 p.m., followed by the adopted budget workshop.
Oct. 28: Santa Clarita Community College District Joint Virtual Meeting with ASG
College of the Canyons has been ranked nationally No. 22 and 26 in The Hispanic Outlook in Higher Education Magazine for enrolling the largest number of Hispanic students and granting the most degrees, respectively.
COC Among Top 100 National Community Colleges for Hispanics
The Santa Clarita City Council Legislative Committee will hold a virtual meeting Wednesday, Oct. 28, at 9:00 a.m.
Oct. 28: Santa Clarita City Council Legislative Committee Virtual Meeting
Santa Clarita-based landscaping firm Stay Green Inc. is proud to announce it has been awarded three Bronze Awards of Excellence by the National Association of Landscape Professionals.
Santa Clarita-Based Stay Green Nationally Recognized for Excellence
Following recent clashes between Sheriff Alex Villanueva and the Los Angeles County Board of Supervisors, the board is set to vote Tuesday on a motion aimed at removing the sheriff.
Supes Expected to Discuss Options for Removing Villanueva
In light of the impact the pandemic is having on Halloween, SCV Adventure Play Foundation is taking a new approach to a family-friendly Halloween hang time on Saturday, Oct. 31, from 1:00 p.m. - 4:00 p.m.
SCV Adventure Play Foundation to Host Virtual, Family-Friendly Haunted House
NASA’s Stratospheric Observatory for Infrared Astronomy (SOFIA) has confirmed, for the first time, water on the sunlit surface of the Moon. This discovery indicates that water may be distributed across the lunar surface, and not limited to cold, shadowed places.
Hart Science Teacher on Initial NASA SOFIA Flight that Verified Water on Moon
A collision involving a car and a bicyclist occurred on the westbound side of Highway 126 and the eastbound side of Main Street in Piru, just after 5:45 a.m. Tuesday morning.
Collision Kills Bicyclist on Highway 126
SACRAMENTO – The California Highway Patrol is launching a new education and enforcement campaign to reduce the number of crashes caused by impaired drivers in California.
CHP Launches Campaign to Reduce Impaired Driving
%d bloggers like this: