CHICO, Calif.--(BUSINESS WIRE)--Northern California National Bank (OTCBB: NCNB.OB), reported pretax net income of $741,000 and after tax net income of $469,000 for the six months ending June 30, 2015. This is a 16% increase in pretax net income from the $640,000 earned in the first six months of 2014 and 13% increase in after tax net income which was $414,000 for the same period in 2014.
The Bank’s total assets were $180.9 million at June 30, 2015 a 9% increase from the June 30, 2014 balance of $166.7 million. Loans totaled $67.5 million, up 13% from a year ago and deposits increased 9% and ended the period at a balance of $164.5 million. The Bank continues to have good asset quality, is considered to be well capitalized and exceeds the minimum regulatory capital requirements.
In addition to the Bank’s recent office expansion, the Board of Directors is also very excited to announce that it has added two additional Board members. Richard McGowan and Todd Lewis were elected to the Board of Directors at the July Board Meeting.
Richard McGowan is a life-time Chico resident, long-time local farmer, one of the Bank’s original consultants and customers of the Bank.
Todd Lewis is the Bank’s Interim President/CEO and CFO and has been with the Bank since April 2, 2007.
Located at the corner of 7th Avenue and Mangrove, Northern California National Bank is a locally owned and operated bank servicing the needs of the businesses and individuals in Northern California since March 2006. The Bank has a full service branch in Chico, CA. For more information call (530) 879-5900 or visit the website at www.norcalbank.com.