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Wednesday, November 30, 2022

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Meadows Bank Reports 37% Increase in Net Income

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Las Vegas, NV, August 25, 2021 –(PR.com)– Meadows Bank, headquartered in Las Vegas, NV, announced today that it posted After Tax Net Income of $11,249,751 in the first half of 2021 which was 37.1% higher than the $8,202,917 earned during the same period in 2020.

The Bank also reported a 22.5% increase in Total Deposits. Total Deposits were up $213.6 million from June 30, 2020 to $1,163 billion at June 30, 2021. At June 30, 2021, the Bank had Total Loans of $933.6 million which represented a slight decrease from the $994.6 million Total Loans outstanding on June 30, 2020, primarily due to the forgiveness of Paycheck Protection Program (PPP) loans by the US Small Business Administration (SBA).

In addition, as of June 30, 2021, Total Assets grew 14.7% to $ 1.3 billion and Total Equity Capital grew 9.7% to $ 139.2 million.

“It is gratifying to see that our client’s businesses were able to get through the pandemic and come out the…

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