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Discovery Valley Bank Sustains Strong Growth in Third Quarter.
Business Editors
SAN MARCOS, Calif.--(BUSINESS WIRE)--Oct. 28, 2002
With the end of the third quarter on Sept. 30, 2002, Discovery Valley Bank (OTCBB:DVLB) completed its first full year in business riding a continuing surge in asset, loan and deposit growth.
Total assets rose during the third quarter to $36.9 million at Sept. 30, a 31 percent increase from $28.1 million three months
earlier. Net loans rose 40 percent to $32.9 million during the same period, from $23.6 million on June 30. Total deposits increased by 41 percent to $30.5 million, versus $21.6 million at the end of the second quarter.
For the nine months ending Sept. 30, assets rose by 212 percent, from $11.8 million at Dec. 31, 2001; net loans grew by 415 percent,
from $6.5 million; and deposits soared by 522 percent, from $4.9
million.
"What's been surprising is how fast we've grown," said…
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Source: HighBeam Research, Discovery Valley Bank Sustains Strong Growth in Third Quarter.
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