SUN VALLEY, Calif., May 1, 2026 /PRNewswire/ — Mission Valley Bancorp (OTCQX:MVLY, “, Mission Valley”, , or the “, Company”, )) announced today net income of $0.7 million, or $0.21 per diluted share, for the first quarter of 2026, compared to net income of $1.6 million, or $0.47 per diluted share, for the first quarter of 2025.
Tamara Gurney, President and Chief Executive Officer, commented, “Our first quarter results were adversely impacted by two specific borrower relationships with one relationship primarily responsible for driving the increase in our provision for credit losses and the other relationship resulting in the reversal of interest income which we expect to be temporary. We continue to closely monitor our loan portfolio and take prudent and proactive measures to maintain sound credit quality.”
Ms. Gurney continued, “A highlight of the first quarter was the successful grand opening celebration of our Arcadia branch, which was well attended by local community leaders and business owners that we proudly serve. While our first quarter results did not meet our initial expectations, we remain optimistic about our outlook and momentum for the remainder of 2026, which also marks the 25th year of serving our local communities. Lastly, I am pleased to announce our fifth consecutive annual cash dividends in the amount of $0.15 per common share coming on the heels of a …