Results:
The rebranding initiative concluded in early 2009. The recently posted operating results indicate continued growth in total deposits (up $66.2 million). Savings increased $25.8 million and checking accounts grew by $31.1 million. Overall core bank earnings grew significantly over the first nine months. What’s more, the bank’s loan portfolio credit quality actually improved during the nine months of 2009. Non-performing loans represent a mere 1.33% of total loans. Bear in mind these results were achieved during the worst economic decline in 40 years.
