First Trust Second Quarter Earnings up 31%
26 7월 2005 - 4:11AM
PR Newswire (US)
First Trust Second Quarter Earnings up 31% CHARLOTTE, N.C., July 25
/PRNewswire-FirstCall/ -- First Trust Bank (OTC:NCFT) (BULLETIN
BOARD: NCFT) reported net income of $740 thousand or $0.32 per
share for the quarter ended June 30, 2005, compared to net income
of $565 thousand, or $0.27 per share, for the second quarter of
2004. This represents a 31% increase in net income over the same
quarter last year. Net income for the six months ended June 30,
2005 totaled $1.4 million or $0.65 per share, compared to net
income of $1.1 million or $0.53 per share, for the same period in
2004, an increase of 31%. Average return on equity and return on
assets was 14.01% and 1.16% respectively compared to 14.05% and
1.07% for the same period last year. Per share amounts reflect the
issuance of 405,000 shares in the secondary stock offering
concluded in May, 2005. Net interest income for the first six
months of 2005 was $5.0 million, an increase of $1.2 million or 32%
over June 30, 2004. Assets at June 30, 2005 grew to $276 million,
an increase of $53 million or 24% over the $223 million reported at
June 30, 2004. Loans totaled $194 million at June 30, 2005, an
increase of 20% over June 30, 2004. "Increased loan outstandings
and an improving net interest margin contributed to these record
results," said Jim Bolt, President and CEO. First Trust is a
commercial bank whose target market is small to medium sized
businesses and professionals. The bank operates three banking
offices at 100 Queens Road, 2245 Rexford Road, Charlotte, NC and
108 Gateway Boulevard, Mooresville, NC. DATASOURCE: First Trust
Bank CONTACT: Jean Galloway or Jim Bolt of First Trust Bank,
+1-704-377-3936, or fax, +1-704-377-8869, or by e-mail at
http://www.firsttrustnc.com/ Web site: http://www.firsttrustnc.com/
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