Merchants Bank of California Announce Record Quarterly Earnings


Merchants Bank of California (which specializes in trade finance, factoring and ‘check cashing’) has reported record earnings for the second quarter of the year 2000. Net income for the period ending 30 June 2000 was $444,137 representing a 57.8% increase on the corresponding quarter of 1999.

The total net income for the bank for the first six months of 2000 was $777,658, an increase of 47.2% on the 1999 figure. Deposit and loan growth in the period also reflected these positive trends with total demand deposits showing a 44.8% increase on the figures for the corresponding period of 1999 to $13,225,187 as of 30 June and total loans showing an increase of 49.7% to $10,562,000 for the same period.

Business Wire



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