B&K earnings drop
Print
Email
Save
Reprints
Twitter
Share
Del.icio.us
Digg
Facebook
Reddit
Britton & Koontz Capital Corp. reported third-quarter net income of $325,000, or 15 cents per share, reported compared to $943,000, or 45 cents per share, a year earlier.
Although net interest income increased by $176,000 for the quarter to $3.7 million, earnings fell because the bank increased its loan-loss provision by $800,000 to $920,000 and had to pay a higher Federal Deposit Insurance Corp. assessment. The loan-loss provision expense was roughly 24 cents per share. The FDIC assessment reduced earnings per share by 3 cents.
Non-performing assets, which includes non-accrual loans, loans delinquent 90 days or more, and other real estate, increased to $8.3 million, or 2.04 percent of total assets at Sept. 30, compared to $3.6 million, or 0.94 percent of total assets, a year earlier.
The bank reported earnings after the markets closed Monday.
If you enjoy Advocate Business coverage why not get it first, directly in you inbox? Sign up today for our Business Today newsletter and get the news delivered to you!
Click "Report Abuse" to notify our moderators that a comment may contain objectionable content.
Your comment appears to contain objectionable content and must be reviewed by a site moderator. If your comment is deemed objectionable, it will not appear on the site.
 | ||||
| Most Popular | Most Emailed | Hot Topics | ||
