SAN LUIS OBISPO, Calif., July 11, 2006 (PRIMEZONE) -- San Luis Trust Bank (OTCBB:SNLS) announced 2nd Quarter '06 earnings of $1.28 million, an 18% increase over 2nd Quarter '05 earnings of $1.08 million. Year-to-date net income through the first 6 months of 2006 was $2.82 million, vs. $2.12 million in 2005, a 33% increase.
"The Bank maintains solid margins and healthy loan growth. Couple this with overhead expense well below our peers, and we are able to maintain earnings above 99.9% of our community bank peer group, nationally," said Bradley Lyon, president and CEO.
Total assets grew 29% to $265.9 million as of June 30, 2006 compared to $206.3 million as of June 30, 2005.
San Luis Trust Bank is a single branch institution headquartered in San Luis Obispo, California. The Bank conducts banking business in San Luis Obispo County. Visit San Luis Trust Bank on the web at http://www.sanluistrustbank.com.