SAN LUIS OBISPO, Calif., Oct. 19, 2006 (PRIMEZONE) -- San Luis Trust Bank (SNLS) has reported diluted earnings of $0.27 per share for the third quarter of 2006 on net income of $1.18 million. Year-to-date net income has increased 29% to $4.0 million compared to $3.09 million for the first 9 months of 2005. Third quarter earnings were a 22% increase over 2005 third quarter earnings of $0.97 million.
"Healthy loan and asset growth have allowed us to continue our strong earnings," stated Brad Lyon, President and CEO of San Luis Trust Bank. "With the addition of Casey Appell as our Chief Credit Administrator, two new directors and seven additional employees, we feel confident that San Luis Trust Bank is well positioned for continued growth and success."
Total assets have grown 19% to $262.2 million as of September 30, 2006 from $219.6 million as of September 30, 2005.
San Luis Trust Bank is a single branch community bank located in San Luis Obispo, CA, serving the banking needs of businesses and individuals countywide since 1999. As a key resource for the economic growth and vitality of San Luis Obispo County, San Luis Trust Bank directors, management and employees are committed to community support both financially and through volunteerism. Visit San Luis Trust Bank on the web at http://www.sanluistrustbank.com.