BWC announces 27% increase in first quarter 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)--April 15, 1997--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. and its subsidiaries Bank of Walnut Creek (PINK SHEETS:BWCF BWCF Battered Women's Clemency Fund ) and BWC Mortgage Services, announced net income for the period ending March 31, 1997. First Quarter 1997 income of $591,000 or $0.46 per share increased 27% over First Quarter 1996 income of $463,000 or $0.38 per share. Earnings for First Quarter 1997 represent a 1.32% return on average assets (ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). ) and a 14.19% return on average equity (ROE), compared to a 1.25% ROA and 12.46% ROE for First Quarter 1996. Earnings have been adjusted to reflect the 10% stock dividend declared by the Board to shareholders of record March 31, 1997. Total assets of the Corporation at March 31, 1997 were $182,990,000 compared to $146,467,000 for the same period last year. Bank of Walnut Creek, an independent bank in its seventeenth year of business, has an uninterrupted record of profits. 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:
CONTACT: Bank of Walnut Creek Leland E. Wines, 510/932-5353 Ext. 201 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion