First Trust's Net Income Up 22%
26 1월 2007 - 4:00AM
PR Newswire (US)
CHARLOTTE, N.C., Jan. 25 /PRNewswire-FirstCall/ -- First Trust Bank
(OTC:NCFT) (BULLETIN BOARD: NCFT) reported net income for the year
ended December 31, 2006 of $3.9 million or $1.00 per diluted share.
This represents a 22% increase over net income of $3.2 million or
$0.88 per diluted share for the year ended December 31, 2005,
adjusted for the 20% stock dividend declared in October, 2006.
Total assets at December 31, 2006 were $365 million compared to
$303 million at December 31, 2005, a 20% increase. Loans totaled
$270 million, a 22% increase over December 31, 2005. Net income for
the fourth quarter was $989 thousand or $0.25 per diluted share
versus net income of $971 thousand or $0.26 per diluted share for
the quarter ended December 31, 2005. "The Bank continues to
experience strong organic growth and the increase in earnings
reflects this growth," said Jim Bolt, President and CEO. First
Trust Bank specializes in serving the banking needs of small
businesses and professionals in the Charlotte, Mooresville,
Davidson, Cornelius, Huntersville and Concord markets. The bank
operates three banking offices located at 1420 East Third Street
and 2245 Rexford Road, Charlotte, NC and 108 Gateway Boulevard,
Mooresville, NC and a loan production office at 916 Copperfield
Boulevard in Concord, NC and at 2610 W. Roosevelt Boulevard in
Monroe, NC. DATASOURCE: First Trust Bank CONTACT: Jean Galloway or
Jim Bolt, +1-704-377-3936, or fax, +1-704-377-8869, both of First
Trust Bank Web site: http://www.firsttrustnc.com/
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