Citizens Community Bancorp, Inc. Reports Third Quarter Earnings.Business Editors MARCO MARCO Microelectronics Advanced Research Corporation MARCO Maritime Consulting MARCO Massachusetts Association of Community Rehabilitation Organizations, Inc. (formerly MARF) ISLAND, Fla.--(BUSINESS WIRE)--Oct. 24, 2000 Citizens Community Bancorp, Inc. ("CCBI CCBI Cleveland Community Building Initiative CCBI Central City Business Institute (Syracuse, NY) ") (Nasdaq:CCBI), reported earnings for the nine months ended September 30, 2000 of $674,639, or $.19 per share. The year-to-date earnings were 51% higher than the $446,706, or $.13 per share earned in 1999. The total assets at September 30, 2000 were $154.4 million, up $47.4 million, or 44% from $107.0 at September 30, 1999. During the same period, however, total loans grew 71% and reached $122.0 million at September 30, 2000, up from $71.3 million at September 30, 1999. "Building our loan portfolio has been a high priority over the past year" said Gregory E. Smith, President and Chief Financial Officer of CCBI. "The combined efforts of the Bank's experienced loan team, together with the increased residential loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. from CCB CCB Calcium channel blocker, see there Mortgage Corporation and our commercial loan staff in Citizens Financial Corp. have resulted in strong growth that surpassed our plans for this year" Smith continued. At September 30, 2000, total deposits were $123.7 million compared to $87.7 million at September 30, 1999, which reflects a 41% year-over-year increase. During the third quarter of 2000, as planned the Bank opened its fourth branch office in one of the most vibrant growth areas of Collier County, Florida Collier County is a county located in the U.S. state of Florida. As of 2000, the population was 251,377. The U.S. Census Bureau 2006 estimate for the county is 314,649 [1]. Its county seat is Naples, Florida6. . "We are excited about the new branch and the growth potential in that market. We have already reached $4 million in deposits in just two months since the branch opened" said Richard Storm, Jr., Chairman of the Board and Chief Executive Officer. "While this has been an important step in our business plan, opening a new full-service branch requires a significant investment in both manpower and operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. ," Mr. Storm continued. Our deposit growth has been enhanced this year by the introduction of our exciting internet banking service, CCB Online, which can be accessed through the Bank's web site, www.ccbank.com. In addition, CCB is the only bank in Collier County to offer express banking courier service to help customers with their deposits and expand the reach of our branch network throughout the County. The common stock of Citizens Community Bancorp, Inc. is traded on the NASDAQ SmallCap Market with the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CCBI". |
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