Robert Mulder, the President and CEO of California Independent Bancorp, said he was pleased with the company’s performance. “Our first quarter earnings set a new record last year and we were able to exceed that number this year. Even though interest margins have shrunk somewhat, our non-interest income is more than making up for it. With interest rates appear to have stabilized, these first quarter earrings bode well for 1996.”
California Independent Bancorp (CIBN on the NASDAQ Electronic Bulletin Board), and it sole subsidiary, Feather River State Bank have released their consolidated earnings for the first quarter of 1996.
Net earnings after tax were $786,868, an improvement of $173,000 or 28% over the same quarter of 1995, which saw net earnings of $613,858.
Article extracted from this publication >> April 17, 1996
