Heritage Bank of Nevada earned $5.3 million in 2010, an increase of 16 percent over its net for 2009.
The Reno-based bank said its loans increased by 8 percent during the year and stood at $314.5 million at the end of 2010. Deposits of $407.4 million on Dec. 31 were up 13 percent.
The company said its lending during the year included more than $5 million in loans guaranteed by the Small Business Administration.
Stan Wilmoth, president of Heritage Bank of Nevada, said the company forecasts continued growth in 2011, and he said the bank looks to expand its lending to qualified customers.
During 2010, Heritage acquired Carson River Community Bank after the Douglas County institution was closed by regulators. Heritage moved the former Carson River Community branch to Gardnerville and operates it as its sixth location in northern Nevada.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment