Published in Health Business Week, May 22nd, 2009
Total assets increased by 24 percent to $164 million, up from $132 million from March 31, 2008. Over the same period, total loans increased by 32 percent to $132 million, and deposits increased by 23.0 percent to $136 million. At March 31, 2009, the bank's capital exceeded the FDIC guidelines for a "well capitalized" bank with a Tier 1 Capital ratio of 12.6 percent compared with the "well capitalized" guideline of 6.00 percent.
Net income for the quarter ending March 31, 2009 was $123,000, compared to $171,000 in the first...
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