Bridge Bank, a market leader among independent banks in sales of the US Small Business Administration (SBA) loans in Northern California, has announced financial results for Q2 and the half-year ended 30 June 2004.
The Bank reported net income of US$624,000 in the three months ended 30 June 2004. The quarter two result represented an improvement of US$346,000, or 125 per cent, compared to net income of US$278,000 in the same period one year ago. On a linked-quarter basis, results for the second quarter of 2004 represented an improvement of 33 per cent over the first quarter of 2004.
The improvement in net income was after a tax provision of US$434,000 for the three months ended 30 June 2004. Results for 2003 did not yet reflect the impact of income taxes. Pre-tax operating income of US$1,058,000 for the quarter ended 30 June 2004 represented improvement of US$780,000, or 281 per cent, compared to the same quarter in 2003.
