Bank of Napa Reports Continued Growth

Celebrates Eighth Anniversary

NAPA, Calif.--()--Bank of Napa, N.A. (OTCBB:BNNP) announced its financial results for the six month period ending June 30, 2014, where the Bank earned $955,000 on a pre-tax basis versus $914,000 in the same period last year, an increase of $41,000 or 4.5%. Net income after taxes was $575,000, a decline from that which was earned in the first half of 2013. The decline in year to date net income was due almost exclusively to the accrual for income taxes.

Total deposits at June 30, 2014 were $141.4 million, an increase from 2013 of $19.3 million. Loan totals at June 30, 2014 increased to $102.3 million, up by $8.8 million from last year. Bank of Napa’s total assets reached $164.5 million at June 30, 2014, representing a $21.0 million or 14.6% increase over the same period last year.

President and Chief Executive Officer Tom LeMasters stated, “We continue to be pleased with our financial metrics, and particularly that of our deposit growth. All of our deposits represent customer relationships, as we do not accept brokered deposits, further evidence that customers desire the personal attention we provide.”

At June 30, 2014, the Bank had equity capital of $22.4 million, and all capital ratios were in excess of the regulatory definition for “well capitalized” distinction. Shareholders, customers and friends, are invited to stop by the Bank the afternoon of August 14, 2014 to celebrate the Bank’s eighth anniversary. Please call (707) 257-7777 for more information.

                             

(000 OMITTED)

June 30, 2014

June 30, 2013

Change

Total Assets

$164,536

$143,531

$21,005

Total Loans

$102,323

$93,549

$8,774

Total Deposits

$141,378

$122,083

$19,295

Net Income (YTD)

$575

$994

$-$419

Diluted EPS (YTD)

$0.25

$0.43

$-$0.18

Return on Avg. Assets .70% 1.37% -.67%
Return on Avg. Equity 5.17% 9.66% -4.49%
 

Bank of Napa, N.A. offers a complete range of loan and deposit products and services to businesses and consumers in the Napa Valley. Its full service office is located at the corner of Redwood Road and Solano Avenue at 2007 Redwood Road, Suite 101 in the Redwood Plaza near Vallerga’s Market in Napa, CA. Bank of Napa is a member of the FDIC. Its common stock is traded on the Over the Counter Bulletin Board under the symbol BNNP and the Bank can be found on the web at www.thebankofnapa.com. Contact Information: Tom LeMasters, President & CEO, 707-257-7777.

Information contained herein may contain certain forward-looking statements that are based on management’s current expectations regarding economic, legislative, and regulatory issues that may impact the Bank’s earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “intend,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting the Bank’s operations, pricing, products and services. The Bank undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

Contacts

Bank of Napa, N.A.
Tom LeMasters, 707-257-7777
President & CEO

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Contacts

Bank of Napa, N.A.
Tom LeMasters, 707-257-7777
President & CEO