Community 1st Bank reports fiscal results.
Global Banking News-April 30, 2015--Community 1st Bank reports fiscal results
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Global Banking News - 30 April 2015
Community 1st Bank (OTCBB: CFBN) has reported net income of USD290,000, which was net of the provision for income taxes of USD196,000.
Net income before taxes was USD486,000 for the quarter ended March 31, 2015, representing an increase of USD375,000, or 338 percent as compared to the prior year. Net income, which included the impact of provision for income taxes of USD196,000, was USD290,000 for the quarter ended March 31, 2015, representing an increase of USD179,000, or 161.3 percent from the USD111,000 earnings during the quarter ended March 31, 2014.
Total assets at March 31, 2015 were USD229.3m, representing an increase of USD12.3m, or 5.7 percent from USD217m at March 31, 2014. Community 1st Bank said that loans increased by USD18.8m, or 15.1 percent, from USD124.7m at March 31, 2014 to USD143.5m at March 31, 2015.
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