Profile: Central Valley Community Bancorp (CVCY.OQ)
16 Aug 2019
Central Valley Community Bancorp, incorporated on February 7, 2000, is a bank holding company, which operates through its subsidiaries, Central Valley Community Bank (the Bank). The Company's principal business is to provide, through its banking subsidiary, financial services in its primary market area in California. The Company serves over seven contiguous counties in California's central valley, including Fresno County, Madera County, Merced County, Sacramento County, San Joaquin County, Stanislaus County, and Tulare County, and surrounding areas through the Bank. The Company’s subsidiary also includes the Folsom Lake Bank.
The Bank conducts a commercial banking business, which includes accepting demand, savings and time deposits and making commercial, real estate and consumer loans. The Bank provides domestic and international wire transfer services and provides safe deposit boxes and other customary banking services. The Bank operates 24 full-service banking offices in Clovis, Exeter, Fresno, Kerman, Lodi, Madera, Merced, Modesto, Oakhurst, Prather, Sacramento, Stockton, Tracy and Visalia. All real estate-related transactions are conducted and processed through the Real Estate Division, including interim construction loans for single-family residences and commercial buildings. The Company offers permanent single family residential loans through its mortgage broker services. It also offers Internet banking, which consists of inquiry, account status, bill paying, account transfers, and cash management. The Company operates automated teller machines (ATMs) at over 19 branch locations.
The Company's loan portfolio includes commercial loans, real estate loans and consumer loans. Commercial loans include commercial and industrial, and agricultural land and production loans. Real estate loans include owner occupied, real estate construction and other land loans, agricultural real estate, commercial real estate and other real estate loans. Consumer loans include equity loans and lines of credit, consumer and installment loans. The Bank's total loans amount to approximately $598.111 million. Its commercial loans amount to approximately $132.669 million. Its real estate loans amount to approximately $410.226 million. Its consumer loans amount to approximately $54.799 million.
The Company's investment portfolio consists primarily of the United States Government sponsored entities and agencies collateralized by residential mortgage-backed obligations and obligations of states and political subdivision securities and are classified as available for sale or held to maturity. The Company holds over 17 Government agency securities of the United States. The Company holds over 154 obligations of states and political subdivision securities. The Company holds over 186 Government sponsored entity of the United State and agency securities collateralized by residential mortgage obligation securities. The Company's investment securities with a fair value of approximately $118,400 million are held as collateral for public funds, short and long-term borrowings, treasury, tax and for other purposes. The Bank's available-for-sale investment securities at fair value amount to approximately $477.554 million. The Bank's held-to-maturity investment securities at fair value amount to approximately $31.712 million.
Sources of Funds
The Company's deposits are originated from individual and commercial customers. The Company offers range of deposits, including negotiable order of withdrawal (NOW) accounts, money market accounts, time certificates of deposit and non-interest bearing demand deposit. The Company's total deposits amount to approximately $1.06 billion. Its NOW accounts amount to approximately $222.839 million. Its money market accounts amount to approximately $227.743 million. Its time certificates of deposit amount to approximately $149.383 million. Its non-interest bearing demand deposits amount to approximately $387.931 million.
Central Valley Community Bancorp
7100 N Financial Dr Ste 101
FRESNO CA 93720-2900