Pacific Valley Bancorp Announces Its Second Quarter 2025 Financial Results

Core Insights - Pacific Valley Bancorp reported a net income of $923 thousand for Q2 2025, a decrease of 9.0% from the same quarter in 2024, primarily due to higher personnel expenses [1][8] - The company experienced growth in loans and deposits, with loans increasing by $8 million and deposits by $11 million in the second quarter [3][9] Financial Performance - Total assets as of June 30, 2025, were $572.4 million, an increase of $38.6 million or 7.2% from the previous year [6] - Net interest income for Q2 2025 was $4.9 million, up from $4.2 million in Q2 2024, driven by increased interest income [11] - The net interest margin for Q2 2025 was 3.61%, compared to 3.32% for the same period in 2024 [11] Loan and Deposit Growth - Gross loans outstanding reached $499.3 million as of June 30, 2025, reflecting a growth of 9.5% or $43.5 million from the previous year [8] - Total deposits were $490.2 million, an increase of $30.6 million or 6.7% compared to the prior year [9] Expense and Profitability Metrics - Non-interest expense for the first half of 2025 was $7.8 million, an increase of 24.3% from the same period in 2024, primarily due to higher personnel expenses [15] - Return on average assets was 0.66% for Q2 2025, down from 0.78% in Q2 2024, attributed to increased personnel expenses [16] Capital and Liquidity - Shareholders' equity was $58.6 million as of June 30, 2025, representing an 8.7% increase from the previous year [10] - The primary liquidity ratio was 11.0% as of June 30, 2025, down from 12.9% a year ago, with total on-balance sheet liquidity of $63 million [5]