Premier Valley Bank reported earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's net income totaled $0.33 million or $0.03 per share compared to $0.86 million or $0.08 per share for the quarter ended September 30, 2008. The financial results for the third quarter of 2009 reflect a very challenging operating environment, directly affected by unprecedented low short-term interest rates and continuing softness in local economic conditions, including real estate markets. For the first nine months of 2009, net income was $1.44 million or $0.12 per share compared to $2.76 million or $0.24 per share reported for the first nine months of 2008.

Premier Valley Bank announced that its Board of Directors has authorized the Bank's fifth consecutive quarterly cash dividend. The dividend of $0.05 per share is payable to shareholders of record on June 30, 2008 and is to be distributed on July 15, 2008.

Premier Valley Bank announced that its Board of Directors has authorized management of the Bank to seek shareholder approval of the adoption of a bank holding company structure at the Bank's annual meeting of shareholders to be held on July 21, 2008. The new bank holding company would be named Premier Valley Bancshares and the current officers and directors of the Bank would continue in their respective positions with the holding company. The formation of the bank holding company is subject to approval by or the non-objection of the California Department of Corporations, California Department of Financial Institutions, Federal Deposit Insurance Corporation and Federal Reserve Board.