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million in the first half of the year, down from earninges of $2.6 million the year earlieer period. The bank holding company of earned $464,000 in the second quarter, down from $1.3 million the year earliert period. “While we remained profitable, the disappointing earningsw in the second quarter is a reflection of the increasedd provision for credit losseas in the light of the overall weak economy and the potential impact it many have on our borrowinv customers during this economic cycle and the significany increase in the FDIC insurance premiumzs from both the increase in regular assessmenf rates as well as the special assessment rate placed on all FDIC insured institutions insecond quarter,” said Dan president of the bank holdingy company.
The bank has 15 branchesd in the Central Valley from the Fresno areato Sacramento. The bank companyu got $7 million in Capital Purchasse Program money from the Department of Treasuryt earlierthis year. It acquired the Lodi and Tracy branches of Service 1st Bancorppin November.
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