Sierra Vista Bank (SVBA) in Folsom, Calif., is
The $79 million-asset bank's fourth-quarter profit fell 40% from a year earlier, to $38,000, because of a lower net interest margins and declining income. Still, the company had its ninth straight profitable month, continuing a string of success that helped it raise over $2 million in an offering. The bank also
Sierra Vista's fourth-quarter net interest income fell 3% from a year earlier, to $958,000. Its net interest margin contracted by three basis points from the fourth quarter of 2011, to 5.07%.
Asset quality has improved. Nonperforming loans fell 7% from a year earlier. The loan-loss provision fell 52% from a year earlier, to $80,000.
Sierra Vista's noninterest income fell by 1% from a year earlier, to $141,000, as fewer securities gains offset a rise in customer-service fees.