Northern California National Bank Announces 3rd Quarter Earnings and Appointment of President/CEO and Chairman of the Board

CHICO, Calif.--()--Northern California National Bank (OTCBB: NCNB.OB), reported pretax net income of $1,156,000 and after tax net income of $732,000 for the nine months ending September 30, 2015. This is a 25% increase in pretax net income from the $924,000 earned in the first nine months of 2014 and 26% increase in after tax net income which was $583,000 for the same period in 2014.

The Bank’s total assets were $189.7 million at September 30, 2015 a 17% increase from the September 30, 2014 balance of $162.9 million. Loans totaled $69.2 million, up 8% from a year ago and deposits increased 20% and ended the period at a balance of $172.1 million. The Bank continues to have good asset quality, is considered to be well capitalized and exceeds the minimum regulatory capital requirements.

The Board of Directors at Northern California National Bank is also very pleased to announce the formal appointments of Steve Gonsalves as Chairman of the Board and Todd Lewis as the President and Chief Executive Officer. Steve has been on the Board of Directors since the inception of the Bank and was one of the original founders of the Bank. Todd has been the Executive Vice President/CFO since April of 2007 and was recently appointed as Interim President and Chief Executive Officer in April 2015.

John Lucchesi, the former Chairman/President/CEO, remains dedicated to the Bank and will continue to assist the Bank as board member and an adviser. John was instrumental in the formation of Northern California National Bank and his wealth of banking knowledge has lead the Bank to be the success it is today. The Board of Directors and the Bank’s staff are grateful to him for his commitment to make the Bank prosperous and a special banking atmosphere for its customers. John will continue to remain available to provide assistance to the Bank’s customers and call on prospective customers.

The Board of Directors is very confident that Mr. Gonsalves and Mr. Lewis will excel in these capacities and that the Bank will continue to perform at the highest level.

Contacts

Northern California National Bank
Todd Lewis, 530-899-4214
President/CEO

Contacts

Northern California National Bank
Todd Lewis, 530-899-4214
President/CEO