Advantage Bank Reports 164% Increase in Earnings.BRANCHBURG, N.J. -- Peter G. Schoberl, President and Chief Executive Officer of this local community bank, reported financial results for the third quarter remained exceptional. Advantage Bank's net income for the nine months ending September September: see month. 30, 2004 was $589,923, a 164 percent increase over the $223,589 reported in September 2003. Net income per basic share for the third quarter ending September 30, 2004 was $.34 compared to $.13 per share in 2003. Chief Executive Officer Peter G. Schoberl said, "This quarter continues to show Advantage Bank maintains steady growth as our total assets grew $19.4 million or 15 percent to $147.6 million as of September 30, 2004 compared to $128.2 million in 2003. Loans increased $13.7 million or 15 percent to $104.0 million at the end of the quarter compared to $90.3 million as of September 30, 2003. Deposits rose $18.3 million or 16 percent from $115.6 million as of September 30, 2003, to $133.9 million as of September 30, 2004." The Bank's book value per share at the end of the quarter was $7.67 with 1,721,357 shares outstanding. Advantage Bank's stock (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ADBK) reached an all time record high on April 21st, trading at $15.30. The stock is currently trading in the range of $13.50 to $12.50. Advantage Bank is celebrating their 5th year of operation and offers a wide range of professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. to individuals and small businesses, including free-for-life personal checking accounts, Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the banking and other full-service banking products. The bank is a member of FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). and STAR and is an equal housing lender The terms Equal Housing Lender and Equal Opportunity Lender are synonymous and refer to all FDIC insured banks in the United States. Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial status. . For further information, call 800-959-0068 or visit the bank's Internet site at www.advantagebanknj.com. |
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