Net loans jumped to $201.2 million at the end of Q3, an increase of $12.0 million or 6.3% from the end-of-June balance of $189.2 million. Growth in commercial real estate loans and residential mortgage loans as well as construction loans accounted for the increases. Non-performing loans were $2,000 at September 30, 2000 compared to $1,500 at the end of June.
Overall, the company's earnings per share jumped to $.28 (basic and diluted) for the three months ended September 30. It was $.22 (a year earlier. Net income was $496,000 as compared to $487,000 for the three months.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
