Community Valley Bancorp has reported a net loss of $430,000, or $0.07 per diluted share, for the fourth quarter of 2008, as compared to a net income of $1.39 million, $0.18 per diluted share, for the fourth quarter of 2007.
Net interest income for the fourth quarter of 2008 was $6.53 million, down 6.99% from the $7.02 million for the same period in 2007. Net interest margin for the fourth quarter of 2008 declined 58 basis points to 4.74% as compared to 5.32% for the same quarter of 2007.
Earnings for the full year of 2008 were $2.74 million, representing a decrease of 57.59% from $6.46 million for the year 2007. Diluted earnings per share were $0.39 for the full year of 2008, a decrease of 53.57%, compared to $0.85 for 2007.
Net interest income for the year ended December 31, 2008 decreased 8.13% to $26.95 million, as compared to $29.33 million for 2007. Net interest margin for the year ended December 31, 2008 declined 60 basis points to 5.09%, as compared to 5.69% for the year ended December 31, 2007.
As of December 31, 2008, total assets were $590.19 million and total deposits were $526.49 million, representing increases of 1.65% and 5.09%, respectively, over the December 31, 2007 totals of $580.62 million and $500.99 million.