News Column

BRIEF: El Dorado Savings reports strong fourth quarter, annual results

January 28, 2014

By Mark Glover, The Sacramento Bee

Jan. 28 --Placerville-based El Dorado Savings Bank reported a profit of $9.83 million for all of 2013, up 9 percent from $9.02 million in 2012. Fourth quarter 2013 net income totaled $3.68 million , up sharply from $2.8 million in the year-ago period. Total assets as of Dec. 31 were $1.86 billion , up $47 million from the previous year. "Stronger loan volume and higher interest rates on new investments contributed to profitability," said CEO George L. Cook Jr . "We maintained our focus on originating good quality residential loans in our local communities, and we are pleased that El Dorado ended the year without any foreclosed properties on the books." The bank operates 32 branches in California and three in northern Nevada . ------ ___ (c)2014 The Sacramento Bee (Sacramento, Calif.) Visit The Sacramento Bee (Sacramento, Calif.) at Distributed by MCT Information Services

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Source: Sacramento Bee (CA)

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