February 23, 2024
You are here:  Home  >  Banking & Finance  >  Current Article

Heritage Oaks Bancorp increases third quarter earnings


Paso Robles-based Heritage Oaks Bancorp reported $4 million in net income, or 12 cents per share, for the third quarter of 2015.

That was up from $3.4 million, or 10 cents per share, recorded in the third quarter of last year.

Loans grew 4.8 percent, or $55.2 million, to $1.21 billion in the third quarter compared to $1.15 billion in the third quarter of last year.

Deposits increased by $148.8 million, or 10.5 percent, to $1.57 billion for the third quarter, up from $1.42 billion last year.

“We had solid loan and deposit growth for the third quarter as our relationship banking initiatives continued to pay off,” Heritage President and CEO Simone Lagomarsino said in a prepared statement.

Total assets increased by $157.7 million, or 9.2 percent, to $1.9 billion in the third quarter, compared to the same period the previous year.

Heritage Oaks closed its $56 million acquisition of Mission Community Bank on Feb. 28 of last year.

• Contact Alex Kacik at akacik@pacbiztimes.com.