Relations Specialist Mariana Lozano works at her desk at the California Avenue office of Valley Republic Bank, which opened 10 years ago.

The parent company of Bakersfield-based Valley Republic Bank announced Thursday its first-quarter net income rose 27 percent year over year to reach $2.94 million.

Valley Republic Bancorp said loans were up 20 percent year over year at $542.9 million, deposits were up 17 percent at $718 million and assets were up 20 percent $820.6 million.

Chairman Eugene Voiland added the bank has created a new oil and gas division, which he said will "strategically place the bank in an excellent position to serve this active Kern County market segment."

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.