Pacific Valley Bancorp Reports Strong Second Quarter Results with Double-Digit Balance Sheet Growth and Improved Profitability

About this update from Pacific Valley Bancorp

SALINAS, Calif., July 27, 2026 /PRNewswire/ -- Pacific Valley Bancorp (OTC Markets: PVBK), parent company of Pacific Valley Bank, today announced its unaudited financial results for the second quarter of 2026. Net income was $1.4 million or $0.24 per share for the second quarter, exceeding the quarter ended June 30, 2025, by 52% as higher interest income offset higher non-interest expense. Total assets increased 14.0% over the quarter ended June 30, 2025, to $653 million, total loans increased 9.6% to $547 million, and total deposits increased 14.2% to $560 million. FINANCIAL HIGHLIGHTS: "We are pleased to report a 52% year-over-year improvement in net income to $1.4 million in the second quarter of 2026 as we maintain growth in loans and deposits over the second quarter of 2025. Loans increased $48 million and deposits increased by $70 million from June 30, 2025. Total deposits grew 17% year-over-year as of June 30, 2026, with 92% of that coming from core deposits," said Anker Fanoe, CEO. "We have made a major investment in loan and deposit production personnel in line with our organic growth strategy. There will be ebbs and flows in profitability as the growth materializes, but our goal is to increase long-term, sustainable performance to drive shareholder value. As we grow, our momentum will increase and our efficiency will improve. I am pleased to see our loans grow by $18 million in the quarter, a 13% annualized rate, along with deposit growth of $23 million, a 17% annualized rate. We are making progress," stated CEO Fanoe. "Our liquidity position remains strong, as our primary liquidity ratio (cash, deposits held in other banks, and securities as a percentage of total assets) was 14.43% on June 30, 2026, compared to 11.04% for the same month a year ago. As of June 30, 2026, on-balance sheet liquidity totaled $94 million and contingent liquidity, which includes borrowing capacity with the Federal Home Loan Bank, the Federal Reserve Bank, correspondent banks and brokered deposits, was $364 million. Our combined on-balance sheet liquidity and contingent liquidity amount to 134% of our uninsured deposits," said Steve Leen, Executive Vice President and CFO. As of June 30, 2026, total assets were $653 million. Since June 30, 2025, total assets have increased $80.2 million or 14.0%, primarily because of an increase in loans and overnight funds. S...

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