The company’s net interest income before provision for loan losses for the three month period has increased to $3.5 million as against $3.2 million for the same quarter a year ago.
Charles Viater, president and CEO, said: We are pleased to report the best earnings in our 118 year history. Interestingly, this occurred during a turbulent time when many of our competitors are finding it necessary to record significant additional provisions or losses related to the subprime mortgage business. As stated previously, our bank does not lend or invest in the subprime loan market and our credit quality continues to improve.
