- Third quarter net income increased 51% to $1.93 million from $1.28 million in the prior year period. This year’s third quarter benefited from a $0.9 million decrease in the provision for loan and lease losses and continued net interest income growth.
- Core deposit growth continued in the third quarter with Demand, NOW and Savings deposit products gaining 9.4%, or $40.0 million. Annualized, this represents a 37.5% growth rate in core deposits.
- Core loans (defined as total loans and leases less national direct financing leases) increased 5.3% in the third quarter of 2011, or 21.2% annualized, to $560.8 million.
- Continued strong capital position with Total Risk-Based Capital ratio of 13.90% at September 30, 2011.
Evans Bancorp Reports 52% Increase In Earnings Per Share In Third Quarter 2011
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