AltaPacific Bancorp of Santa Rosa reports earnings increase

The bank, which has grown with a few mergers in recent years, reported net income of $1.36 million for the second quarter.|
BILL SWINDELL
THE PRESS DEMOCRAT

AltaPacific Bancorp of Santa Rosa reported on Tuesday a 23 increase in earnings for the second quarter compared to the first three months of 2018.

The bank, which has grown with a few mergers in recent years, reported net income of $1.36 million, or 22 cents per diluted share for the quarter ending on June 30.

“The business development efforts of our banking professionals have resulted in solid loan growth during this past year,” said Charles Hall, chief executive officer of AltaPacific Bancorp, in a statement. “While we continue to expand our market presence in targeted areas in Northern California, the majority of our growth during 2018 has occurred among our Southern California branches.”

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