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-Vibra Bank's net profit falls in Q2 2012.

BANKING AND CREDIT NEWS-August 1, 2012--Vibra Bank's net profit falls in Q2 2012(C)2012 M2 COMMUNICATIONS

1 August 2012 - Net profit at Vibra Bank (OTCBB:VBBK) dropped to USD207,000 (EUR168,215) in the three months to June from USD329,000 in the comparative period last year, the US lender said on Tuesday.

In the six months to June, the bank's net profit amounted to USD675,000, up from USD464,000 in the corresponding period in 2011.

At the end of June, the bank's total assets amounted to USD111.8m, compared with USD77.8m as of 30 June 2011. Total loans jumped to USD81.1m at the end of the period from USD57.6m at the end of June 2011. Total deposits grew to USD98.2m as of 30 June, against USD64.3m a year earlier.

The bank's Tier 1 leverage ratio was 12%, its Tier 1 risk-based capital ratio was 17% and its total risk-based capital ratio stood at 18%, all three ratios well above the regulatory requirements for well-capitalised banks.

The bank's chairman Enrique R. Schon said Vibra Bank was recently named one of the safest banks in the US, being among the 359 lenders in the country with a zero "Texas ratio" which measures non-performing loans and foreclosed real estate compared to capital.

Vibra Bank, based in Chula Vista, California, is a FDIC-insured bank. The bank focuses on the business and professional market and specialises in serving the Hispanic business and professional community in San Diego County.

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Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Date:Aug 1, 2012
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