Middleburg Financial announces fiscal results.
Global Banking News-May 2, 2016--Middleburg Financial announces fiscal results
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Global Banking News - 02 May 2016
Middleburg Financial Corporation (NASDAQ: MBRG) has reported financial results for its first quarter 2016.
Net income for the first quarter of 2016 was USD2.06m, or USD0.29 per diluted share, compared to USD781,000 or USD0.11 per diluted share for the previous quarter and USD2.45m, or USD0.34 per diluted share, for the same period in 2015.
Total revenue, which is composed of net interest income and non-interest income, was USD12.20m for the first quarter of 2016, higher by 1.12 percent compared to the previous quarter and a decrease of 3.48 percent compared to the same period in 2015.
Total consolidated assets at March 31, 2016 were USD1.35bn, higher by 4.11 percent since December 31, 2015.
Headquartered in Middleburg, Virginia, Middleburg Financial Corporation has two wholly owned subsidiaries, Middleburg Bank and Middleburg Investment Group Inc. Middleburg Bank serves communities in Virginia with financial centres in Ashburn, Gainesville, Leesburg, Marshall, Middleburg, Purcellville, Reston, Richmond, Warrenton and Williamsburg. Middleburg Investment Group owns Middleburg Trust Company, which is headquartered in Richmond, Virginia with offices in Middleburg, Alexandria and Williamsburg.
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