Central Valley Community Bancorp Reports Earnings Results for the Quarter Ended March 31, 2020, and Quarterly Dividend
Central Valley Community Bancorp (CVCY)
Last central valley community bancorp earnings: 4/15 04:00 pm
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US:NASDAQ Investor Relations:
ir.cvcb.com
Company Research
Source: Business Wire
FRESNO, Calif.--(BUSINESS WIRE)--The Board of Directors of Central Valley Community Bancorp (Company) (NASDAQ: CVCY), the parent company of Central Valley Community Bank (Bank), reported today unaudited consolidated net income of $6,623,000, and fully diluted earnings per common share of $0.52 for the three months ended March 31, 2020, compared to $5,216,000 and $0.38 per fully diluted common share for the three months ended March 31, 2019.FIRST QUARTER FINANCIAL HIGHLIGHTSNet loans decreased $15.0 million or 1.61%, and total assets increased $21.9 million or 1.37% at March 31, 2020 compared to December 31, 2019.Total deposits increased 1.30% to $1.35 billion at March 31, 2020 compared to December 31, 2019.Total cost of deposits remains at low levels at 0.13% and 0.12% for the quarters ended March 31, 2020 and 2019, respectively.Average non-interest bearing demand deposit accounts as a percentage of total average deposits was 44.23% and 42.10% for the quarters ended March 31, 2020
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