Bank of East Tennessee Reports 1991 Net Income Up 32 Percent

Bank Of East Tennessee (NASDAQ:EATN) Wednesday announced results for the three months and year ended Dec. 31, 1991. For the full year, net income increased 32 percent to $806,476, or 41 cents per share, up from 1990 net income of $611,730, or 31 cents per share. Net interest income after provision f...

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Bibliographic Details
Published inBusiness Wire p. 1
Main Authors Lawson, Fred R, Grigsby, Samuel F
Format Newsletter
LanguageEnglish
Published New York Business Wire 29.01.1992
Subjects
Banking industry
Financial statements
South Central
Knoxville
TN
US
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Summary:Bank Of East Tennessee (NASDAQ:EATN) Wednesday announced results for the three months and year ended Dec. 31, 1991. For the full year, net income increased 32 percent to $806,476, or 41 cents per share, up from 1990 net income of $611,730, or 31 cents per share. Net interest income after provision for loan losses for 1991 was $7,627,518, an increase of 12 percent over the 1990 figure of $6,838,337. For the three months ended Dec. 31, 1991, net income increased 65 percent to $292,883, or 15 cents per share, over net income of $177,370, or 9 cents per share, in the year-earlier period. Net interest income after provision for loan losses was $1,868,719 compared with $1,723,139 a year ago. (excerpt)