- Net income of $1.3 million or $0.18 per diluted share, down 50% from $2.7 million or $0.36 per diluted share for the linked quarter and down 34% from $2.0 million or $0.25 per diluted share for the year-earlier quarter;
- Excluding special items for each quarter, net income of $1.8 million or $0.24 per diluted share, down 38% from $2.9 million or $0.39 per diluted share for the linked quarter and down 3% from $1.8 million or $0.23 per diluted share for the year-earlier quarter (see reconciliation of non-GAAP items);
- Loan growth, excluding loans acquired through FDIC-assisted acquisitions, of $27.5 million or 4% on a linked-quarter basis and $123.7 million or 23% compared with the year-earlier quarter;
- A decrease in FDIC-acquired loans of $8.3 million, or 6%, on a linked-quarter basis;
- A decrease in the provision for loan losses, excluding FDIC-acquired loans, to $350,000, down 45% from $640,000 for the linked quarter and down 53% compared with $750,000 for the year-earlier quarter;
- No provision for loan losses for FDIC-acquired loans for the current quarter compared with $28,000 for the linked quarter and $1.2 million for the year-earlier quarter; and
- Non-performing assets to total assets declined to 1.03% for the third quarter of 2013 compared with 1.14% for the linked quarter and 1.68% for the year-earlier quarter.
Heritage Financial Group, Inc. Reports Third Quarter Net Income Of $1.3 Million Or $0.18 Per Diluted Share
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