Home Valley Bancorp has reported a net loss of $179,000, or $0.08 per diluted share, for the fourth quarter of 2008, compared to a net income of $517,000, or $0.24 per share, for the same period in 2007.
Net interest income for the fourth quarter of 2008 was $1.87 million, up 3%from $1.83 million for the same period in 2007. For the fourth quarter of 2008, net interest margin was 3.35%, compared to 3.71% for the comparable quarter of 2007.
For the year ended 2008, the company reported a net income of $729,000, or $0.34 per diluted share, compared to $1.7 million, or $0.81 per diluted share, for 2007. Net interest income for the year ended December 31, 2008 improved 7% to $7.34 million, as compared to $6.86 million for 2007. The net interest margin for the year ended December 31, 2008 declined to 3.48%, as compared to 3.60% for the year ended December 31, 2007.
Total assets as of December 31, 2008 increased to $244 million, up 14% over $213.47 million as of December 31, 2007. Deposits ended the year up 14% at $192.7 million, compared to $169.65 million as of December 31, 2007.
