FRESNO, Calif. (AP) _ Central Valley Community Bancorp (CVCY) on Wednesday reported second-quarter net income of $2.3 million.
The bank, based in Fresno, California, said it had earnings of 18 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The holding company for Central Valley Community Bank posted revenue of $18 million in the period. Its revenue net of interest expense was $17.6 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $19.4 million.
Central Valley Community Bancorp shares have fallen 37% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.68, a decrease of 35% in the last 12 months.