VIB Corp. (Nasdaq: VIBC) has announced that the San Diego Union-Tribune ranked the company 21st among more than 100 San Diego County regional public companies based on a composite scoring system incorporating revenue, change in revenue, two-year average return on equity and change in profit margin.
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"It is gratifying to be recognized for our strong financial results in 2001, a year in which we focused on improving operating efficiencies and achieved record net income of $9.2 million," said Dennis Kern, VIB president and chief executive officer. "Not only did we rank higher than some of the region's most well-known public companies, we were the highest-ranked bank on the list."
On April 5, VIB Corp. reported first-quarter net income grew 44 percent to $3 million, or 22 cents per diluted share. Revenues for the quarter grew 3 percent to $15.2 million. Total assets were $1.2 billion, net loans grew to $835 million and deposits were $915 million at March 31.