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Mission Bank reports second-quarter results
| Monday, Jul 21 2008 1:09 PM
Last Updated: Wednesday, Jul 23 2008 5:35 PM
Bakersfield-based Mission Bank announced second-quarter earnings of $715,000, a decrease from the same quarter in 2007 when profits stood at $829,848. Assets stood at $149 million.
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Profits for the first six months ending June 30 were down just 3.5 percent compared to 2007, however, at more than $1.5 million.
Richard Fanucchi, president and chief executive, said in a statement that although results don’t reflect past record performances, the bank’s loan portfolio is strong and he’s pleased with overall performance for the first six months.
The bank’s holding company, Mission Bancorp, also announced a 5 percent stock dividend to shareholders of record as of June 30.
Mission Bank turns 10 in October. It will open a new 7,800-square foot branch in Shafter in November, its third Kern location.