SUN VALLEY, Calif., July 31, 2025 /PRNewswire/ — Mission Valley Bancorp (OTCQX:MVLY, “, Mission Valley”, , or the “, Company”, )) announced today net income of $1.2 million, or $0.37 per diluted share, for the second quarter of 2025, compared to a net income of $2.0 million, or $0.60 per diluted share, for the second quarter of 2024. Net income for the six months ended June 30, 2025 was $2.8 million, or $0.84 per diluted share, compared to net income of $3.7 million, or $1.10 per diluted share, for the six months ended June 30, 2024.
Tamara Gurney, President and Chief Executive Officer, commented, “Some highlights of the quarter include the core deposit growth from the core deposit initiatives that we began last year along with the momentum generated in the first quarter, and the $1.2 million in net income that we reported for the quarter despite some negative fair value adjustments from our servicing asset portfolio, putting out less loans for sale, and continuing our investment in technology and digital transformation initiatives, and branch restructuring and expansion efforts.”
Ms. Gurney continued, “We also recently executed a lease in Arcadia, California, situated in the heart of the San Gabriel Valley, which will be our fourth full-service branch with a target open date in late third quarter or …