Meadows Bank announces earnings report
August 10, 2017
Meadows Bank, headquartered in Las Vegas with a branch in Reno, posted Net Income After Tax of $5,625,000 in the first half of 2017 which was 41% higher than the $4,003,000 it earned during the same period in 2016.
On June 30,the bank had Total Loans of $610.2 million which represented a 14 percent growth or $76.2 million over loans outstanding at June 30, 2016. Meanwhile, Total Deposits grew by $84 million from 6/30/16 to $613.1 million at June 30, 2017. Also, as of June 30, 2017, Total Assets grew to $727.4 million while Total Equity Capital grew to $76.2 million.
Separately, Meadows Bank announced that in the second quarter it opened a new SBA Loan Production Office in Vancouver, Wash.