Mission Valley Bancorp (OTCQX: MVLY) announced net income of $967 thousand, or $0.30 per diluted share, for the fourth quarter of 2018 compared to net income of $342 thousand, or $0.11 per diluted share, for the fourth quarter of 2017. Net income for the twelve months ended December 31, 2018 was $3.2 million, or $0.98 per diluted share, compared to $3.6 million, or $1.07 per diluted share for the twelve months ended December 31, 2017. The 2018 net income figure was negatively impacted by one credit relationship that resulted in a $1.2 million lower of cost or market write-down taken against gain on sale of loans. “2018 proved to be a transformative year for Mission Valley Bank, as both loan and deposit levels reached record highs while great strides were made toward our long term strategy of strengthening our infrastructure and the alignment of key business units.” stated Tamara Gurney, CEO of Mission Valley, “During the year, we committed to an investment in human capital, bolstering the depth of our management team and further ensuring that we are well-positioned going into 2019.” Highlights 2018 compared to 2017:
It’s all about building relationships. Recently, Mission Valley Bank’s Vice President and Business Banking Officer Paula Bahamon participated in a Women’s Collaborative Colloquium at CSU, Northridge with the purpose of elevating women business owners. Here is what the hosting organization, Women’s Collaborative Mentoring Program (WCMP), said about Paula --
“Paula Bahamon is an exceptional banker who understands how to support Women in Business. Last October, the WCMP held a Women’s Collaborative Colloquium at CSU, Northridge with the purpose to elevate women business owners. The Colloquium began with a leadership/mentoring award followed by industry expert panels and concluded with a speed mentoring (matchmaking).
Mission Valley Bank is excited to introduce CardValet®, a mobile card management application that helps reduce account fraud by allowing cardholders to monitor accounts with their smartphone and control how, when and where their debit card is used.
CardValet was developed in partnership with Fiserv and is available in the Apple® App Store or Google® Play. Once CardValet is set up, cardholders have the ability to “turn off” their card when not in use, establish transaction spending limits and decline a transaction when the amount exceeds a predefined threshold.
Don’t be surprised if the next time you happen to visit www.MISSIONVALLEYBANK.COM it looks a little different. On Wednesday, March 27th, Mission Valley Bank will launch its new, fully responsive website. With new features such as full site search, streamlined login, enhanced stock updates and online check reorder, this fully responsive website will enable our visitors to navigate more quickly and easily than ever before.
Have you heard? Mission Valley Bank has launched two new Mobile Banking services – one of them is just right for you. Whether you use our more robust, Business Online Banking or our Small Business & Personal Online Banking service – we’ve got you covered.
Download the app that’s right for you today. Here’s how: