Golden Valley Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 29, 2023
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Golden Valley Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 3.76 million compared to USD 4.09 million a year ago. Net income was USD 0.99 million compared to USD 1.2 million a year ago. Basic earnings per share from continuing operations was USD 0.44 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 0.52 a year ago.
For the nine months, net interest income was USD 11.25 million compared to USD 11.65 million a year ago. Net income was USD 2.85 million compared to USD 3.42 million a year ago. Basic earnings per share from continuing operations was USD 1.27 compared to USD 1.53 a year ago. Diluted earnings per share from continuing operations was USD 1.26 compared to USD 1.49 a year ago.
Golden Valley Bank (the Bank) provides products and services to customers who are predominately small to middle-market businesses, professionals, and not-for-profit organizations located in Butte, Shasta, and surrounding counties. The Bank offers checking and savings, certificates of deposit (CDs) and individual retirement accounts (IRAs), debit cards, and an education center. Its business solutions include ACH & Wire, eDeposit, Positive Pay, and Merchant Services. The Bankâs account services include online banking, mobile banking, bill pay and CardValet and Zelle. The Bankâs business lending services include commercial loans, SBA loans and credit cards. The Bankâs personal lending services include home loans and credit cards.