Golden Valley Bancshares (OTC: GVYB) Stock In Focus After Q3 Earnings

On Tuesday, Golden Valley Bancshares (OTC: GVYB), along with its fully owned subsidiary unit Golden Valley Bank, came into focus after the company announced its unaudited financial results for the third fiscal quarter. It would be interesting to see if the stock gets any traction today among investors or not.

Financial Highlights

In the third fiscal quarter, Golden Valley Bancshares reported interest income to the tune of $5,521,000, which reflected a strong improvement on the $5,092,000 in interest income in the prior year period. The net interest income for the quarter stood at $3793000, as opposed to $3,764,000 in the corresponding quarter last year.

Golden Valley Bancshares reported net income of $867,000 for the quarter, which reflected a drop from the net income of $990,000 in the prior year quarter. The basic earnings per share were $0.39, which reflected a decline from the $0.44 earnings per basic share in the prior year quarter.

Key Announcement

The company also announced that Golden Valley Bank had also been ranked in the yearly list of top-performing publicly traded banks. The list was for banks with less than $2 billion in assets and was largely populated by community banks with strong track records of profitability, low credit losses, and considerable levels of lower-cost deposits. It could be a good move to keep an eye on the Golden Valley Bancshares stock this morning.