NAPA, CA / ACCESSWIRE / October 20, 2016 / Bank of Napa, N.A. (OTCQB: BNNP) announced its financial results for the nine month period ending September 30, 2016, where the Bank's total assets exceeded $242 million. The asset growth was accompanied by the release of FDIC statistics showing that the Bank has captured over 5.5% of the Napa County deposit market share since its inception in 2006.

Bank of Napa's total deposits at September 30, 2016 were $214.1 million, an increase from the third quarter 2015 of $34.2 million or 19.0%. Loan totals at September 30, 2016 were $127.7 million, representing growth of $4.5 million or 3.7% from the same quarter last year.

Through the first nine months of 2016 net income was $1.3 million, a substantial increase of $304,000 or 31.9% over that which was produced in the same time frame of 2015. Third quarter 2016 net income was $448,000, an improvement of $95,000 or 26.9% when compared to the same quarter last year.

President & Chief Executive Tom LeMasters commented, "Our growth in deposits, loans and profitability is the direct result of the quality people we employ, combined with their deep experience in community banking. We are committed to providing our clients with products and services that provide meaningful value to their business and family."

At September 30, 2016, Bank of Napa's total equity capital was $26.7 million, and all capital ratios were in excess of the regulatory definition for "well capitalized" distinction.

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Bank of Napa, N.A. operates two offices: one located at the corner of Redwood Road and Solano Avenue at 2007 Redwood Road, Suite 101 in the Redwood Plaza and a second office at 1715 Second Street in Downtown Napa in Napa, CA. Contact Information: M. T. LeMasters, President & CEO, 707-257-7777.

Information contained herein may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact the Bank's earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "intend," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting the Bank's operations, pricing, products and services. The Bank undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

SOURCE: Bank of Napa, N.A.