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Discovery Valley Bank Ends First Fiscal Year with Strong Finish.
Business Editors
SAN MARCOS, Calif.--(BUSINESS WIRE)--Jan. 27, 2003
Key benchmark totals for assets, loans and deposits continued to climb during the fourth quarter of 2002 for Discovery Valley Bank (OTCBB:DVLB), which ended its first fiscal year of operations with a strong finish on Dec. 31, 2002.
Total assets rose to $41.9 million at year-end 2002, from $11.8 million at the close of 2001. Total loans reached $37.2 million, from $6.4 million 12 months earlier. Total deposits climbed to $35.4 million, from $4.9 million at the close of 2001. (The bank opened for business in September 2001 after an initial public offering that raised $7.95 million in capital.)
"We're very gratified with the bank's performance during 2002," said James P. Kelley, president and chief executive officer. "The fact that our key indicators are ahead of our business plan shows how eager…
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Source: HighBeam Research, Discovery Valley Bank Ends First Fiscal Year with Strong Finish.
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