Bank of East Tennessee Reports Record Second Quarter Results

Bank Of East Tennessee Thursday announced record results for the three and six months ended June 30, 1992. For the three months, net income was $408,844, or $.21 per share, an increase of 152% over net income of $162,233, or $.08 per share, in the prior year. Net interest income after provision for...

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Bibliographic Details
Published inBusiness Wire p. 1
Main Author Lawson, Fred R
Format Newsletter
LanguageEnglish
Published New York Business Wire 23.07.1992
Subjects
Banking industry
Financial statements
South Central
Knoxville
TN
US
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Summary:Bank Of East Tennessee Thursday announced record results for the three and six months ended June 30, 1992. For the three months, net income was $408,844, or $.21 per share, an increase of 152% over net income of $162,233, or $.08 per share, in the prior year. Net interest income after provision for loan losses for the second quarter of 1992 was $2,075,827 compared with second quarter 1991 net interest income of $1,961,873. For the six months ended June 30, 1992, net income was $734,858, or $.38 per share, an increase of 139% over net income of $306,898, or $.16 per share, for the first six months of 1991. Net interest income after provision for loan losses for the first half of 1992 was $4,220,166 compared with net interest income of $3,827,575, in the similar period last year. (excerpt)