Looks like the board is sound asleep. Indeed, nothing exciting happened at the sleepy Central Valley.

I was wrong in several key areas.
The non-accrual trended down as I expected. However, allowance for loan loss continued to increase to over $3 million this quarter.
The interest rate spread dipped a little from 2Q but still very healthy.
Apparently the Mercer branch opening cost was absorbed in operating expense. That penalized the bottom line.

I am not thrilled on the report card, but remain optimistic. Central Valley is working through the wreckage of Service First. It has the discipline to right those branches. If it takes another quarter or two, so be it.

Again, for those who is interested in this bank, please chime in.

Best,
Sam