Profit, Loans Up for Cal RepublicWednesday, July 30, 2014
California Republic Bancorp reported $3.3 million in second-quarter profit, a 14% growth from the same period last year.
The Irvine-based company operates through its California Republic Bank and CRB Auto Inc. subsidiaries.
It had net interest income of about $8.6 million, up 10% from last year second quarter.
Noninterest income, including fees and gains from loan sales, grew 56% to $7.9 million.
California Republic had $573.8 million in net loans as of June 30, up 48% year-over-year. Much of the growth came from auto loans, which grew from about $63 million to nearly $188 million over the past year.
Loan growth helped drive the bank's overall assets up 29% year-over-year to $947.7 million.
California Republic remains one of the largest banks by assets with headquarters in Orange County.