OAK HARBOR, Wash., Jan. 30, 2014 (GLOBE NEWSWIRE) -- Washington Banking Company (Nasdaq:WBCO), the holding company for Whidbey Island Bank, today reported it earned $14.5 million, or $0.93 per diluted share in 2013, with a 38.2% decline in nonperforming assets and 4.3% growth in originated loans compared to a year ago. In 2012, Washington Banking earned $16.8 million, or $1.09 per diluted share, with strong contribution from its covered loan portfolio. In the fourth quarter of 2013, earnings were $2.5 million, or $0.16 per diluted share, compared to $4.5 million, or $0.29 per diluted share, in the third quarter of 2013 and $4.6 million, or $0.30 per diluted share in the fourth quarter of 2012.
Washington Banking Company Earns $14.5 Million, Or $0.93 Per Share, In 2013; Continuing Improvements In Asset Quality And Solid Loan Growth Contribute To Profits
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