At December 31, 2007, the bank has reported total assets of $139.3 million, representing a 2% increase over December 31, 2006, while the deposits closed at $109.4 million, representing a 12% decline over the prior year-end. Net earnings for the fourth quarter of 2007 were $178,000, a decline as against compared to net earnings of $219,000 for the fourth quarter of 2006. Net interest margin for the quarter was 5.29%, a decrease of 0.29% when compared to the same period of 2006.
Kerry Pendergast, president and CEO of Premier Service Bank, stated: During the fourth quarter, we experienced solid loan growth which we believe will continue into 2008. We will continue to focus on our core competency, which is centered in developing long term banking relationships with our clients. Our fundamental business plan remains strong, and we are committed to making quality loans and controlling expenses.
