Top-News
Donnerstag,
19.04.2018 12:00
von
PR Newswire
| Aufrufe: 40
York Traditions Bank Reports 1st Quarter Earnings
Ein Analyst beim Betrachten von Charts (Symbolbild).
© NicoElNino / iStock / Getty Images Plus / Getty Images
PR Newswire
YORK, Pa., April 19, 2018
YORK, Pa., April 19, 2018 /PRNewswire/ -- York Traditions Bank (OTC Pink: YRKB) reported net income of $1,094,000, or 39 cents per share, for the first quarter ended March 31, 2018, compared to $605,000, or 27 cents per share, for the first quarter ended March 31, 2017. This represents an 81% increase over the first quarter of 2017. Book value per common share increased to $16.62 at March 31, 2018.
"We are off to a solid start in 2018," stated Eugene J. Draganosky, President and Chief Executive Officer. "Loans have grown $39.3 million, or 13%, over the past year. In conjunction with advances in interest rates, this drove the first quarter increase in net interest income of $573,000 or 18%. Continued solid credit quality allowed us to reduce our first quarter provision for loan losses to $80,000. Traditions Mortgage turned in an outstanding quarter recognizing $1,028,000 from gains on the sale of mortgages, an increase of $149,000 or 17% over the first quarter last year. We also recognized the benefit of the recently enacted Tax Cut and Jobs Act. Our effective tax rate fell from 30.3% in the first quarter 2017 to 18.7% in the first quarter 2018. Despite pre-tax earnings increasing $478,000, or 55%, our federal income tax fell $11,000 or 4%."
On March 22, 2018, York Traditions Bank opened its first loan production office in Camp Hill, Pennsylvania. Later this summer, the Bank will open its sixth branch office, which will be its first located in York City.
| FINANCIAL HIGHLIGHTS (unaudited): | | | | | | |
| Selected Financial Data | | Mar 31, 2018 | | Dec 31, 2017 | | Mar 31, 2017 |
| Investment securities | $ | 56,084 | $ | 55,258 | $ | 52,275 |
| Loans, net of unearned income | | 353,633 | | 348,533 | | 314,290 |
| Total assets | | 447,953 | | 441,289 | | 400,780 |
| Deposits | | 364,308 | | 363,089 | | 326,651 |
| Borrowings | | 30,631 | | 26,224 | | 34,342 |
| Subordinated debt | | 5,000 | | 5,000 | | 5,000 |
| Shareholders' equity | | 45,884 | | 45,319 | | 33,092 |
| Book value per common share | $ | 16.62 | $ | 16.22 | $ | 15.14 |
| Allowance/loans | | 1.03% | | 1.02% | | 1.04% |
| Non-performing assets/total assets | | 0.64% | | 0.64% | | 0.61% |
| Tier 1 capital/average assets | | 10.61% | | 10.38% | | 8.42% |
| | | | | | | |
| | Three months ended Mar 31, | | ||||
| Selected Operations Data | | 2018 | | 2017 | | |
| Interest income | $ | 4,551 | $ | 3,820 | | |
| Interest expense | | (825) | | (667) | | |
| Net interest income | | 3,726 | | 3,153 | | |
| Provision for loan losses | | (80) | | (153) | | |
| Investment securities gains (losses) | | (3) | | - | | |
| Gains on sale of mortgages | | 1,028 | | 879 | | |
| Other income | | 310 | | 300 | | |
| Other expense | | (3,635) | | (3,311) | | |
| Income before income taxes | | 1,346 | | 868 | | |
| Income taxes | | (252) | | (263) Werbung Mehr Nachrichten zur YORK TRADITIONS BK YORK CNTY PA Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | ||
