Bank of Napa Reports Strong Earnings Growth

NAPA, CA / ACCESSWIRE / July 21, 2016 / Bank of Napa, N.A. (OTCQB: BNNP) announced its financial results for the six-month period ending June 30, 2016, where the Bank earned $810,000 versus $601,000 in the same period last year, an increase of $209,000 or 34.8%. Net income in the second quarter of 2016 was $407,000, an increase of over $82,000 or 25.2% over that which was earned in the same period last year.

Total deposits at June 30, 2016 were $204.3 million, representing an increase from the balance outstanding at June 30, 2015 of $32.7 million. Gross Loan totals at June 30, 2016 increased to $128.3 million, up by $11.9 million from last year. Bank of Napa’s total assets reached $231.6 million at June 30, 2016, representing a $35.3 million or 18.0% increase over the same period last year.

At June 30, 2016, the Bank had equity capital of $25.8 million, and all capital ratios were in excess of the regulatory definition for “well capitalized” distinction.

Bank of Napa, N.A. offers a complete range of loan and deposit products, and services to businesses and consumers in the Napa Valley. It operates two full service offices: at the corner of Redwood Road and Solano Avenue at 2007 Redwood Road, Suite 101; and at Second and Seminary Streets at 1715 Second Street, in Napa CA. Bank of Napa is a member of the FDIC. Its common stock is traded on the OTCQB under the symbol BNNP and the Bank can be found on the web at www.thebankofnapa.com. Contact Information: Tom LeMasters, President & CEO, 707-257-7777.

Information contained herein may contain certain forward-looking statements that are based on management’s current expectations regarding economic, legislative, and regulatory issues that may impact the Bank’s earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “intend,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting the Bank’s operations, pricing, products and services. The Bank undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

SOURCE: Bank of Napa, N.A.

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