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FOR IMMEDIATE RELEASE Contact Anker Fanoe , Chief Executive Officer ( 831 ) 771-4384 Pacific Valley Bank Announces Its Third Quarter 2021 Financial Results Salinas , CA - October 27 , 2021 – Pacific Valley Bank ( OTC Pink : PVBK ) announced its unaudited earnings results for the third quarter 2021. Net income for the nine months ended September 30 , 2021 , was $ 3.08 million representing an increase of 33 % or $ 763 thousand over the same period in 2020. For the three months ended September 30 , 2021 , net income was $ 833 thousand . Earnings per share for the third quarter 2021 were $ 0.21 . KEY SECOND QUARTER HIGHLIGHTS : • • Core Loan growth , excluding PPP , remains strong : up $ 25.6 million or 9.0 % during the third quarter of 2021 . Cannabis Related Bank Program continues to grow : revenue for third quarter was $ 162k compared to $ 135k in the second quarter . Basic earnings per share of $ 0.77 for the nine months ended September 30 , 2021 , compared to $ 0.58 for the same period in 2020 . As of September 30 , 2021 , total assets were $ 473.4 million . Since June 30 , 2021 , total assets have decreased $ 3.8 million or 0.8 % , and since September 30 , 2020 , total assets have increased by $ 53.2 million or 12.7 % . Anker Fanoe , President and CEO , commented , “ The third quarter results show sustained growth . With the first round of PPP loans almost all forgiven , the Bank is focusing on core loan growth while maintaining the strong credit quality of the portfolio . " Total gross loans outstanding were $ 371.6 million as of September 30 , 2021 , which includes $ 61.0 million in Paycheck Protection Program ( PPP ) loans . This exceeded gross loan balances at September 30 , 2020 , by $ 25.5 million representing an increase of 7.4 % year - over - year . Since June 30 , 2021 , the Bank's core loan portfolio , excluding PPP , increased by $ 25.6 million or 9.0 % . Under Section 4013 , Temporary Relief from Troubled Debt Restructurings , of the 2020 Coronavirus Aid , Relief , and Economic Security Act , $ 31 million , or 0.08 % of total loans , were previously restructured and are paying as agreed . Sandi Eason , EVP and Chief Operating Officer , stated , “ By participating in PPP , the Bank has the unique opportunity to expand new customer relationships and support the growth of businesses in our community . " As of September 30 , 2021 , total deposits were $ 428 million compared with total deposits of $ 433 million at June 30 , 2021 , representing a decrease of $ 4.9 million , or 1.1 % during the third quarter of 2021. Total deposits have increased by $ 47.9 million or 12.6 % compared to a year ago . At the end of the quarter the Bank had 100 cannabis related deposits totaling $ 17.3 million .