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Placerville-based El Dorado Savings Bank reported a 15.3 percent increase in profits in the first quarter ended March 31 compared with the same period a year ago.
Net income was $3.03 million compared with $2.63 million in the initial quarter of 2008.
"The profit improvement was the result of lower interest rates and the continued excellent performance of the bank's loan portfolio," said Thomas C. Meuser, chairman and CEO. "As of March 31 ... only eight of the 4,500 loans serviced by El Dorado were 60 days or more past due."
The bank reported total assets of $1.66 billion.
El Dorado Savings operates 32 branches in California and three in Nevada.
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Net income was $3.03 million compared with $2.63 million in the initial quarter of 2008.
"The profit improvement was the result of lower interest rates and the continued excellent performance of the bank's loan portfolio," said Thomas C. Meuser, chairman and CEO. "As of March 31 ... only eight of the 4,500 loans serviced by El Dorado were 60 days or more past due."
The bank reported total assets of $1.66 billion.
El Dorado Savings operates 32 branches in California and three in Nevada.
More...