Profits dip for El Dorado Savings
By Mark Glover, Sacramento Bee
Placerville-based El Dorado Savings Bank, one of the area’s most consistently profitable financial institutions, saw a slight decrease in net income in 2011.
The bank, which operates 32 branches in Northern California, on Friday reported a full-year profit of $10.2 million, down from $10.9 million in 2010.
Fourth-quarter net income was $3.3 million, down from $3.5 million in the final quarter of 2010.
Assets as of Dec. 31 totaled $1.7 billion, up $50 million from 2010.
Chairman and CEO Thomas Meuser said he was pleased with bank operations and a flow of new customers amid “challenging conditions” in 2011.
Awesome company. My favorite bank.
My Grandchildren are now 3rd Gen. El Dorado Savings Al Tahoe Branch customers.. Solid company w/profit over 10 mil. in these times.. not bad… I am definitely an Old Flatus…. where does the time go?
I remember when they were a pure savings & loan, located at the Y, where the Factory Stores are. Solid then, solid now. Friendly tellers and managers too.
Good bank, great people working there.
There is “ups and downs” is all our lives.
I will stay with the trusted one!!
One of the better banks.Seems we have had an account with Al Tahoe Terry for ever.
A fantastic bank!!!
I see they have a lot of fans here, but I cant figure out why. I had 30% cash down for a house and listened for 30 minutes to their loan officer on all of the problems involved with getting a loan today. I had credit above 750, cash and a job; and the loan officer for mortgages can’t figure out how to put a loan together. Obviously the national banks were able to get the loan together.
Apparently for some reason, they considered you a risk. We’ve gotten 2 construction/mortgage loans from El Dorado Savings. They’re tough, but they don’t throw money away on losing propositions. That’s why they don’t have a lot of foreclosures on their books.
or customers. I spent almost 20 years with them and all I got was “I can’t” or “you can’t” or “We’re not allowed”. CAN’T isn’t in the vocabulary at Wells Fargo.