Nashville Bank & Trust Company (NVBT) announced its third quarter results Thursday, sustaining what FDIC guidelines call a “well capitalized” bank. Third quarter net income for the local bank was $66,000, with year-to-date net income exceeding $362,000 – after income taxes of $224,000 were paid.
The bank’s 3Q net income in 2007 was $454,000, with an income tax benefit rolled over after posted losses in prior years. Year-to-date non-interest income was $1,837,000 compared to $1,487,000 for the first nine months of 2007. The bank says this increase was due mainly to continued growth in the bank’s wealth management business where revenues grew by 23 percent in the first 9 months of 2008.
Total assets increased by 21 percent to $151 million in the last 12-month period. In that same timeframe, total loans increased by 37 percent to $120 million. Deposits increased by 23 percent to $129 million. With these numbers the bank’s capital is at a 14.4 percent ratio, which is “well capitalized” by FDIC’s guideline of 6 percent.
About QualityStocks:
QualityStocks’ Small Cap Stock Newsletter is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.
Sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
The Quality Stocks Daily Stock Report http://video.qualitystocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment