Folsom Lake Bank Earnings Up 13.6%

FOLSOM, Jul 17, 2014 (GLOBE NEWSWIRE via COMTEX) Folsom Lake Bank (OTC Markets:FOLB), announced unaudited financial results for the six month period ending June 30, 2014. For the first six months of 2014, the Bank reported net income of $476,225, an increase of 13.6% over the same six month period of 2013. This is the Bank s eighteenth consecutive profitable quarter with net income for the second quarter 2014 of $244,185, down 8.4% from the 2013 second quarter results but up 5.0% from the first quarter 2014 results. Net income for the second quarter of 2014 was impacted by higher expenses associated with preopening costs for the new branch in Rancho Cordova. The continuing improvement in the local economy is helping to propel significant growth in the Bank s revenue compared to 2013, said Robert J. Flautt, President and Chief Executive Officer. We are seeing increased lending opportunities for the first time in years, and this increased activity bodes well for continued improvement in
http://bit.ly/1njh4yJ