The Bank Holdings, a four-year-old community banking company in Reno, reported its first-ever annual profit Tuesday - $281,000.
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The $247 million-asset parent of Nevada Security Bank lost $565,000 in 2003.
Fourth-quarter earnings rose 268% from a year earlier, to $332,000.
In November, Bank Holdings acquired the charter and a branch from CNA Trust Corp. of Costa Mesa, Calif., for an undisclosed sum. (CNA sold the rest of its business to the Union Bank of California.)
That acquisition paved the way for Bank Holdings to expand into northern California. It now has a loan production office in Sacramento and it plans to open a branch in Roseville this quarter.
