El Dorado Savings Bank earned $5.6 million in the first half of the year, down 9.5 percent from $6.2 million it earned during the same period the year earlier.
The Placerville-based thrift had total assets of $1.46 million at June 30, up 3.8 percent from $1.4 million at June 30, 2006.
El Dorado had earnings assets of 5.21 percent, which was offset by cost of funds of 2.7 percent, leaving the bank with a spread of 2.51 percent through the first half. That is down from a spread of 2.73 percent during the first half of last year. Banks earn most of their income on the spread -- or margin -- between what they collect on loans and what they have to pay for deposits and expenses.
El Dorado has 34 branches in California's Mother Lode, the Sacramento Valley and Northern Nevada.
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Sacramento Business Journal - 8:56 AM PDT Wednesday, July 18, 2007
by Mark Anderson
Staff writer
