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Tuesday, Nov 28, 2023

Mission Valley Bank Reports Strong Year

Mission Valley Bancorp reported net earnings of $3.55 million ($1.07 per share), the highest profits in the history of the Sun Valley bank. As of Dec. 31, 2017, the bank had total assets of $330 million, an increase of $5 million for the year. Net loans increased in 2017 by $3 million to a total of $242 million. “As we enter into 2018, we are well positioned to benefit from the anticipated higher interest rate environment,” Chief Executive Tamara Gurney said in a statement. “We have a sound, diversified balance sheet, a solid capital base to carry us forward and a tremendous team dedicated to our success and to the success of our clients and shareholders.” Shares of Mission Valley Bancorp (MVLY) closed Tuesday unchanged at $14.45 on the over-the-counter market.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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