Profits Rise for Mission Valley Bank

Mission Valley Bancorp reported first quarter net income of more than $1.3 million, the strongest first quarter in the company’s history, the Sun Valley commercial bank announced Tuesday. In the quarter ended March 31, earnings per share rose to 43 cents, a 10 percent increase over last year. The OTC Markets Group, which operates the marketplace where shares of Mission Valley are traded, named the bank as among its top 50 companies based on returns for shareholders. “We have built an extraordinary team and culture, dedicated to ensuring that we do what is right for our clients, our shareholders and the communities we serve,” Chief Executive Tamara Gurney said in a statement. “The combination of a sound, diversified balance sheet, solid capital base, and strong team secure our course of steady and controlled growth throughout 2018 and beyond.” Shares of Mission Valley Bancorp (MVLY) remained flat at $15.45 Tuesday on the over-the-counter market.