Connecting Our Community ANNUAL REPORT 2017

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1 Connecting Our Community ANNUAL REPORT 2017

2 COMMUNITY BANKER OF THE YEAR Our fearless and inspiring leader, Mark Francis won the 2017 Community Banker of the Year award from Western Independent Bankers (WIB)! A true leader leads by example and that s what we see everyday with Mark. President s Message 2017 was another great year with our Bank exceeding all major financial objectives and advancing our reputation in the community as a Bank that can get the job done. For us, it is all about coming to work every day to create the Best Bank in Town through Absolutely Outstanding Customer Service and empowering our staff to act in the best interest of our customers. We are building a strong Bank with a very bright future. Our Bank s total assets grew to 225 million, up from 209 million last year. Deposits were up 15 million to 195 million and Loans ended the year at 143 million compared to 125 million a year ago. Loan quality continues to be excellent. Net income for the year was 1,823,457 (0.88 per share) compared to 1,521,752 (0.74 per share) last year. The Golden Valley Bank Community Foundation continues to do it s good work locally with over 325,000 distributed to many local charitable and other worthwhile causes. We are also proud of our sponsorship of the Chico Heat important family-friendly summer entertainment and are looking forward to another summer of baseball and fireworks! Our staff continues to grow, both in numbers and expertise. We added several key employees and others furthered their technical education earning important certifications in a number of areas. With rapid advances in technology changing the way we all do our banking, growth of our staff is a top priority. We are committing the resources necessary to stay as close to the cutting edge as we can and provide new products to our customers to go along with our mission of Absolutely Outstanding Customer Service. We recognize that our success is due in large part to the loyalty and support of our Founders and key customers. Combine that with a strong local economy and an optimistic community and we are looking at a great future! Thanks for all of your support! Mark Francis, President & CEO 1

3 Redding In 2018 we are opening our doors to a second location in Redding just 90 minutes North of our main location in Chico. This Business Banking Center will be positioned to give local business owners a premier technology banking experience, with minimal foot traffic coming into the office. We have employees, Christy Davis and Jay Reagan, already in place at our new location at 250 Hemsted. Pictured below, both Christy and Jay are natives of Cottonwood and Redding with direct ties to the communities. We are all very excited about this new opportunity! Christy Davis VP Relationship Banking Manager Jay Reagan VP Commercial Banking The beautiful view from our new location! 2 3

4 Chico Heat Golden Valley Bank is the proud Title Sponsor for the Chico Heat for the 3rd year. Our team enjoys attending games, watching the fireworks, and having fun with the local community and we love seeing so many of you at the games! Meet & Greet with Chico Heat As part of our Title Sponsorship we gifted Boys & Girls Clubs of the North Valley a Meet and Greet with Chico Heat players. Shubert s Ice Cream & Candy passed out ice cream to all the kids and players! We want to continue #ConnectingOurCommunity. 4 5

5 Community Foundation In 2017, we hit an all-time high in giving through the Golden Valley Bank Community Foundation. Since its inception, well over 1 million has been distributed throughout our community through grants and donations and that number continues to climb! Our Community Foundation serves as a catalyst and partner in finding innovative and workable solutions for the betterment of the communities we serve. The Golden Valley Bank Community Foundation donates to charities, sponsors events, grants scholarships and more. 6 7

6 Connecting Our Community BEHIND THE SCENES Matt Smith, owner of Sports LTD, is seen at Bird In Hand with owner Bob Malowney making a purchase from his store. We are Connecting Our Community through local business owners who are proud partners with Golden Valley Bank. Our first commercial of 2018 includes Andy Keller of ChicoBag, Matt Smith of Sports LTD and Bob Malowney of Bird In Hand. See some behind the scenes pictures and watch the full story at Our Videographer, Brent Holland of Blue Lab Media captures the debit card transaction from Andy Keller, owner of ChicoBag to Matt. Andy and Diann Harger, SVP Relationship Banking Manager looking at the new Golden Valley Bank ChicoBags. 8 9

7 Make a Difference Day On Chico Make a Difference Day, we provided and built a shed for the Butte Humane Society. The addition of the shed will give BHS the ability to restructure their clinic to branch out their services. Butte Humane Society Each year, employees choose a worthy cause or organization for which to raise funds. In 2017, the employees chose the Butte Humane Society (BHS). BHS is committed to animal welfare and advocacy, promoting the human-animal bond and reducing overpopulation. We raised over 7,000 throughout 2017 by holding bake sales, jean days, hosting a BBQ on Memorial Day and more all for donations. The Bank s Directors, Advisors and Founders were instrumental in helping us achieve and surpass our 10,000 goal! The Golden Valley Bank Community Foundation matched our earnings up to 5,000 and a check for 12, was presented to Katrina Woodcox, Executive Director of the Butte Humane Society and other Board members at our Annual Holiday Social

8 Financial Highlights Another great year financially in 2017 with significant increases in all major categories and a doubling in Loans, Deposits, Total Assets and Earnings per Share over the last six years. With a strong local economy we plan on keeping this growth pace up! Find detailed information at: ADVISORS Michael Baird, MD Oncologist Bill Bales Sierra Nevada Brewing Company James Boice, MD Retired, Pathology Sciences Lewis Brogan Erickson s Veterinary Hospital John L. Burghardt Attorney Dan Cargile Retired, Banker BOARD OF DIRECTORS LOANS DEPOSITS Matt Gallaway Russell Gallaway and Associates Ken Grossman Sierra Nevada Brewing Company Chairman Vice Chairman Secretary President & CEO Donald Hubbard Medical Business Solutions (Retired) Tim Tittle Managing Partner Tittle and Co., LLP Syl Lucena Owner Collier Hardware Mark Francis President & CEO Golden Valley Bank W. Howard Isom K-Coe Isom (Retired) Robert Harp Marshall & Harp Attorneys Norm Larson Larson Ranch Jeff Lobosky, MD NorthState Neurosurgical Associates Frank Sisco Sisco Enterprises, Inc. Jack Sterling Madison Bear Garden/Mom s Dick Stein HJ Promotional Products Brian Sweeney Asset Management Group Marilyn Everett K-Coe Isom (Retired) Doug Guillon President Guillon Companies R. Scott Chalmers RSC Associates (Retired) Gary Katz Private Investor Cresia Gale Co-Owner Bidwell Consulting Services Mark Kimmelshue GM/CEO ARMCO TOTAL ASSETS EARNINGS PER SHARE Audrey Tennis Rice Farmer Glen Toney Retired, Aerospace Engineer 12 13

9 CORPORATE HEADQUARTERS 190 Cohasset Road, Chico, CA (530) REGISTRAR AND TRANSFER AGENT American Stock Transfer Company th Avenue, Brooklyn, NY Shareholder Services: INVESTOR RELATIONS Investors seeking information about Golden Valley Bank should contact: Mark Francis, Chief Executive Officer (530) Tracie Cvitkovich, Executive Administrator (530) STOCK LISTING Golden Valley Bank common stock is listed on the Over The Counter Markets system under the symbol GVYB. Go to to gain access. To inquire about purchase or sale, please contact your broker or Tracie (above). INDEPENDENT PUBLIC ACCOUNTANT Crowe Horwath, LLP 40 Capital Mall, Suite 1200, Sacramento, CA (916)