Salinas, CA – February 6, 2019 – Pacific Valley Bank (OTC Pink: PVBK) announced its
unaudited fourth quarter 2019 Net Income of $677 thousand or $0.17 basic earnings per share.
Net Income for the twelve months of 2019 was $2,684,650 or $0.67 basic earnings per share,
compared to the twelve months of 2018 with a reported $2,456,457 or $0.62 basic earnings per

Fourth Quarter 2019 Financial Highlights (annualized)
Return on Average Assets (ROAA): 0.81%
Net Interest Margin (NIM): 3.94%
Efficiency Ratio: 68.83%

Total Assets were at a record high: $351 million
Year to Date 2019 Financial Highlights (annualized)
Return on Average Assets (ROAA): 0.84%
Net Interest Margin (NIM): 3.92%
Efficiency Ratio: 69.58%

“In 2019 the Bank proudly celebrated its fifteenth year of operations and service to the
community,” stated Anker Fanoe, President and CEO. “During these fifteen years, our
employees have focused on providing exemplary service to our customers and exceeding
expectations. In turn, Pacific Valley Bank’s strong financial performance exceeded our
expectations in 2019. Additionally, the Bank continued its momentum of expansion in the loan
portfolio and core deposits. We are pleased to embark upon our sixteenth year with strong loan
quality, and are well capitalized, allowing for further growth.”
As of December 31, 2019, total assets were $351.0 million. Since December 31, 2018, total
assets have increased $30.3 million, or 9%. Total assets increased $10.6 million in the last
quarter of 2019.

Total gross loans outstanding were $270.7 million as of December 31, 2019, a record high for
the Bank. This exceeded gross loan balances at December 31, 2018, by $21.9 million, or 9%.
The growth trajectory in total loans outstanding in 2019 was primarily centered in Commercial
Real Estate balances which saw a $20.2 million increase. The Bank had good asset quality in
2019, with non-accruing assets accounting for less than 1% of the Bank’s total assets at
December 31, 2019.

View 4Q 2019 Earnings Release

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