BWC announces second quarter 1996 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 23, 1996--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 and BWC Mortgage Services announced the corporation's second quarter 1996 net income of $485,000 or 43 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. compared with $289,000 or 26 cents per share for the same period in 1995. The return on average assets (ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). ) for second quarter 1996 is 1.32 percent, and return on equity (ROE) is 12.8 percent, both ratios significantly higher than second quarter 1995 ratios of .9 percent ROA and 8.53 percent ROE. For the six months ended June 30, 1996, net income was $948,000 or 85 cents per share, an increase of $268,000 over first half 1995 earnings of $680,000 or 62 cents per share. ROA for the first half 1996 is 1.28 percent with ROE at 12.59 percent. Increased earnings are the result of growth in the bank's loan portfolio, including the business, construction, SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government and accounts receivable financing Accounts Receivable Financing A type of asset-financing arrangement in which a company uses its receivables - which is money owed by customers - as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. , and the positive contributions of BWC Mortgage Services. Bank of Walnut Creek, an independent bank in its 16th year of business, has an uninterrupted record of profits. The bank is consistently recognized for its safety and soundness and is rated Five Star, Blue Ribbon and Premier by independent industry consultants. The bank's headquarters and main office are at 1400 Civic Drive, Walnut Creek. Additional branch offices are in Orinda, San Ramon, Danville and Pleasanton. A regional business center recently opened in Fremont. BWC Mortgage Services has headquarters in San Ramon, with mortgage consultants located in each bank office. CONTACT: Bank of Walnut Creek, Walnut Creek Leland E. Wines, 510/932-5353 ext. 201 |
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