Chico, Ca – Northern California National Bank (OTCBB: NCNB.OB), reported net income of $827,000 for the year ended December 31, 2014 compared to net income of $821,000 for the year ended December 31, 2013. Net interest income was $3.667 million for the year ended December 31, 2014 which was an increase of approximately $363,000 or 11.0% from the $3.304 million net interest income for the year ended December 31, 2013.
As of December 31, 2014 the total assets of the Bank were $161.9 million. This is an $18.8 million or 13.1% increase from the December 31, 2013 balance of $143.1 million. Gross loans were $64.5 million at December 31, 2014 which is an $8.5 million or 15.2% increase from the December 31, 2013 balance of $56.0 million. Cash and investments balances were $94.4 million at December 31, 2014 which was a $10.7 million or 12.8% increase from the prior-year balance of $83.7 million. Deposits increased $9.0 million or 7.0% from $128.1 million at December 31, 2013 to $137.1 million at December 31, 2014.
“We are pleased to report that Northern California National Bank continues to grow and operate in a safe and sound manner. Our 2014 net income reflects the costs associated with expanding our offices and hiring additional specialized employees. We are happy to report an increased net income in 2014 with these additional costs.” said Chairman/President and CEO John Lucchesi. “We are also proud to report that the Bank continued to pay a cash dividend to its shareholders for the third consecutive year. We encourage people from the community to come in to our Bank and experience our great service.”
Northern California National Bank is a locally owned and operated bank servicing the needs of the businesses and individuals in Northern California. The Bank has a full service branch in Chico, CA. For more information call (530) 879-5900 or visit the website at www.norcalbank.com.
Market Makers for Northern California National Bank Stock
There are several market makers for Northern California National Bank stock, including Wedbush Securities Inc. For more information regarding buying and selling our stock, contact your brokers or Joey Warmenhoven at the phone number or address below:
Managing Director, Investments
PCS Community Banking Group
5885 SW Meadows Road, Suite 350
Lake Oswego, OR 97035