The company operates its ten banking offices in Lane, Linn and Washington counties. Return on assets in the third quarter was 1.89%, and return on equity was 19.75%.
Through the first nine months of 2000, net income was $3.51 million or 77 cents a share. The first nine months of 2001 produced net income of $3.92 million, or 81 cents a share. Total assets at Sept. 30 were $296 million, an 11% increase from Sept. 1999.
Meanwhile, PremierWest Bancorp--the parent company of PremierWest Bank, which has 11 branches in Southern Oregon--is reporting third quarter net income of $871,000 or 10 cents a share, exclusive of one-time merger and data conversion costs of $65,000. In the same 1999 period, net income was $432,000 or 5 cents a share.
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