Middleburg Financial posts USD 2.12m of 3Q14 net income.
BANKING AND CREDIT NEWS-November 2, 2014--Middleburg Financial posts USD 2.12m of 3Q14 net income
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3 November 2014 -- Virginia US-based bank holding company Middleburg Financial Corp (NASDAQ: MBRG) has posted net income of USD 2.12m for 3Q14 or USD 0.30 per diluted share.
Total revenue, which is comprised of net interest income (before provision for loan losses) and non-interest income, was USD 11.83m for 3Q14 representing a decrease of 14.21% compared to 2Q14 and a decrease of 23.45% compared to 3Q13.
The company recorded net interest income of USD 9.55m for 3Q14, representing an increase of 0.37% compared to 2Q14 and an increase of 2.41% compared to 3Q13.
The net interest margin declined to 3.36%, compared to 3.38% for 2Q14 and an increase compared to 3.33% for 3Q13.
Asset quality continued to improve during 3Q14.
Middleburg Financial Corp. is headquartered in Middleburg, Virginia and has two wholly owned subsidiaries, Middleburg Bank and Middleburg Investment Group, Inc.
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