Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
Tri-State 1st Banc Reports Record Earnings of $766,000"
EAST LIVERPOOL, Ohio -- Tri-State 1st Banc Inc. (Nasdaq: TSEO), parent of 1st National Community Bank, Gateminder Corp. and MDH Investment Management Inc., today reported net income of $766,000, or 86 cents per diluted share, for 2004.This is an increase of 9.2%, or $65,000, over net income reported in 2003, said Tri-State President Charles B. Lang. Net income rose by 10.3% per share over net income for 2003.For the three months ended Dec. 31, net income was $178,000 or 20 cents per fully diluted share. This compares to $157,000 or 17 cents per share for the fourth quarter 2003, an increase of $21,000 or 13.6% over last year. The 2004 increase per share was 3 cents or 17.6%.Lang stated: "I am gratified that the performance of the company was so favorable for our stockholders. However, the true service to our success this past year is the great strides we have made in improving service to our customers in the tri-state area. In 2004, the bank expanded the operations center through a building addition, opened a commercial loan department, processed over 3,000 check orders through its in-house check imprinting service, introduced a no-bounce check protection program and the company organized the MDH Investment Management subsidiary. For 2005 we expect to launch Internet banking, introduce trust services through a newly created department and continue to devote significant attention and resources to the protection of customers' assets from fraudulent intrusion through the use of high-quality security systems.""