$43 million increase
The first half of the year is complete and our bank has recorded another outstanding performance. We closed out June over 13% percent above budget in income and a whopping 52% percent above a record setting first half of 2000!
Total assets grew to $257,392,734, a $43 million increase since year-end, and an over 40% percent annualized growth rate. While growth and income are on an accelerated pace, we are pleased to report loan delinquency remains very low.
Our bank is currently in the process, of completing a downtown Chico branch at 300 Mangrove, which we plan to have open in the fall. We have also acquired land in Yuba City and have submitted plans for a new building to house that branch at 1600 Shasta House Road, which will open next spring. We believe these two sites will increase our opportunity for growth in these communities.
— Victor Lazslo / CEO
Two major banking magazines have ranked our bank in the top 15 nationally, of banks our size, in earnings for the year 2000. As we stated in our letter accompanying the cash dividend, it is in our bank’s best interest to be recognized as the premier community bank in the north valley. This recognition, and our continued stellar performance, only enhances our image.
Please take every opportunity to recommend our bank and our stock.
Chairman of the Board
President and Chief Executive Officer