Pacific Valley Bank Announces its First Quarter 2021 Financial Results and Continued Participation in the CARES Act Paycheck Protection Program
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SALINAS, Calif., May 3, 2021 /PRNewswire/ Pacific Valley Bank (OTC Pink: PVBK) announced its unaudited earnings results for the first quarter 2021. Net income for the three months ended March 31, 2021 was $1.13 million, representing an increase of 89% compared with the same period of 2020. Earnings per share for the first quarter 2021 were $0.28 compared with $0.15 for the first quarter 2020.
As of March 31, 2021, total assets were $466.8 million. Since December 31, 2020, total assets have increased $1.9 million or 0.41%, and since March 31, 2020, total assets have increased by $132.7 million or 40%. Anker Fanoe, President and CEO, commented, Economic circumstances continue to improve in Monterey County as companies work toward returning to pre-pandemic operations. Every day we s