Bank of Napa Reports Robust Growth

NAPA, CA / ACCESSWIRE / July 23, 2015 / Bank of Napa, N.A. (OTCQB: BNNP) announced its financial results for the six month period ending June 30, 2015, where the Bank earned $601,000 versus $575,000 in the same period last year, an increase of $26,000 or 4.5%. Net income in the second quarter of 2015 was $325,000, an increase of $25,000 or 8.3% over that which was earned in the same period last year.

Total deposits at June 30, 2015 were $171.7 million, representing an increase from the balance outstanding at June 30, 2014 of $30.3 million. Loan totals at June 30, 2015 increased to $116.5 million, up by $14.2 million from last year. Bank of Napa’s total assets reached $196.3 million at June 30, 2015, representing a $31.8 million or 19.3% increase over the same period last year.

President and Chief Executive Officer Tom LeMasters stated, “We continue to be pleased with our financial metrics, in particular our deposit growth. In our nine years of operation the increase in deposits of over $30 million is the largest year over year growth in our history. This is further evidence that customers desire the personal attention we provide. Coupled with the recent announcement by DepositAccounts which ranked us the eighth strongest commercial bank in the US we have further enhanced our reputation in the Napa County marketplace.”

At June 30, 2015, the Bank had equity capital of $23.8 million, and all capital ratios were in excess of the regulatory definition for “well capitalized” distinction. Shareholders, customers, and friends are invited to stop by both offices of the Bank on the afternoon of Friday August 14, 2015 to celebrate the Bank’s ninth anniversary. Please call (707) 257-7777 for more information.

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 Over the Counter Bulletin Board 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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