Mission Valley Bancorp on Wednesday reported a down fourth quarter but positive full-year results that set an earnings record. The Sun Valley-based bank company said net income of $633,000 (20 cents a diluted share) for the fourth quarter was down from the same period the previous year when it reported $967,000 (30 cents). Net income for the 12 months ended Dec. 31 was $3.6 million ($1.12 a diluted share), up more than 14 percent from $3.16 million (98 cents) in the previous year. No analysts follow the company. “Reaching highs in loan, deposit and asset levels, while achieving record earnings, I am very proud of the success we achieved in 2019,” said Tamara Gurney, the chief executive of the company, which owns Mission Valley Bank. “During the year, we proved the transitions made have been successful and we continue our focus on ensuring the bank is well-positioned going into 2020.” According to the bank company, gross loans increased $18.3 million, or 7.6 percent, to $267 million and total deposits increased $4.43 million, or 1.5 percent, to $301 million. Total assets increased $6.91 million, or a little less than 2 percent, to $358 million. Mission Valley said capital ratios remain robust, and asset quality is strong with non-accrual loans totaling $530,000, or 0.2 percent of total loans, with no other real estate owned. The company also repaid $3.64 million of debt at the holding company during 2019, thereby reducing interest costs in excess of $190,000 annually. Gurney said: “2019 was a year of positive change for Mission Valley. As we enter into 2020, we remain focused on building Mission Valley Bank into a premier business bank, leveraging our strong capital base and solid platform, while continuing to invest in the resources necessary to create long term franchise value for our shareholders, team members, clients, and community. Mission Valley’s stock on Wednesday increased 3 cents, or less than 1 percent, to $14.35.