The Bakersfield parent company of Valley Republic Bank posted record earnings for the 12 months ended Dec. 31.
Valley Republic Bancorp's net income increased 71 percent during the year to reach $8.95 million. Its net loans, deposits and total assets all rose by 17 percent in 2018.
President and CEO Bruce Jay said in a news release the bank is now in the top 20 percent of approximately 5,600 banks in the United States, as measured by asset size.
"As one of the newest banks in the country," he stated, "we are proud of what Valley Republic Bank has achieved in both growth and performance in just 10 years."