BWC Announces Second Quarter and First Half Earnings.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.--(BUSINESS WIRE)--July 12, 1999-- James L. Ryan, Chief Executive Officer and Chairman of the Board of BWC BWC Biological Weapons Convention BWC Bureau of Workers Compensation BWC Best Workplaces for Commuters (EPA/DOT program promoting commuting efficiency) BWC Beauty Without Cruelty (skin care product company) Financial Corp. (Nasdaq:BWCF BWCF Battered Women's Clemency Fund ) and its subsidiaries Bank of Walnut Creek and BWC Mortgage Services, announced record net income for the period ending June 30, 1999. Ryan reported the Corporation's earnings for the six months ended on June 30, 1999. Net income was $2,362,000 or $0.80 diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of , compared to $1,940,000 or $0.66 diluted earnings per share for the same period in 1998. Earnings for first half 1999 represent a 1.74% return on average assets (ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). ) and 18.46% return on average equity (ROE), compared to 1.67% ROA and 18.88% ROE in 1998. For second quarter 1999 net income was $1,242,000 or $0.42 diluted earnings per share, compared to $974,000 or $0.33 diluted earnings per share for the same period in 1998. The return on average assets (ROA) for second quarter 1999 was 1.80% and return on equity (ROE) was 18.93%; both ratios were higher than second quarter 1998 ratios of 1.62% and 18.45%. Total assets of the Corporation at June 30, 1999 were $277,581,000, representing a 10% increase over first half 1998 assets of $252,527,000. Bank of Walnut Creek is now in its twentieth year of business. The Bank's headquarters and main office are at 1400 Civic Drive, Walnut Creek. Additional branch offices are in Orinda, San Ramon San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
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