The Biz Buzz - Puyallup's Valley Bank reports record earnings

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Friday, January 25th, 2008

Puyallup's Valley Bank reports record earnings

Posted by C.R. Roberts @ 03:59:47 pm

Puyallup-based Valley Community Bancshares, Inc., the holding company for Valley Bank, on Friday reported record earnings for 2007.

Earnings for year increased 12 percent to $2,538,000, or $2.20 per diluted share compared to $2,259,000 or $1.96 per diluted share during 2006.

The company also reported an 18 percent increase in its shareholder dividend.

At the annual meeting this month, the board of directors approved a $1.00 per share cash dividend to shareholders of record on December 31, 2007.

“During 2007, the Bank increased profitability to a record level while maintaining excellent credit quality,” said David Brown, Valley president and CEO. “The Bank has no exposure to sub-prime loans and has limited exposure to real estate construction loans by focusing our marketing efforts to our core business, namely business lending.”

Valley Bank serves South King and Eastern Pierce counties with eight full-service banking facilities and a drive-up facility.

Categories: Banking • 1 comment

COMMENTS:

Comment by JYUNGEN @ 12:12 - Saturday, January 26th, 2008

Let's hear it for responsible bankers and not letting the greed of a risky quick buck get the best of you! The big guys really need to take note.

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Marce Edwards is the business editor. She has been at The News Tribune for seven years and has written about technology and big businesses in the South Sound including Weyerhaeuser and Russell. Before moving to Tacoma, she worked at The Idaho Statesman in Boise. She is a Northwest native who likes to garden and refuses to use an umbrella. She lives in Tacoma with her husband and two kids.

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