San Diego Business Journal

Vibra Bank Reports Quarterly Earnings

By Mike Allen Thursday, October 27, 2011

Vibra Bank, which is based in Chula Vista and has one office, reported third-quarter net income of $246,000, compared with a net loss of $201,000 for the like quarter in 2010.

For the nine months ended Sept. 30, the bank reported net income of $710,000, compared with a net loss of $594,000 for the like period of 2010, the company said Oct. 24.

Total assets at Vibra Bank stood at $87.3 million as of Sept. 30, up from $67.8 million in the prior year’s third quarter. Total loans were at $67.9 million, up from $52.4 million for the like quarter of 2010.

The bank, which opened in 2008, had a Tier 1 leverage ratio of 14.7 percent, above the minimum 11 percent for most new banks.