Fresno First Bank reported a profit of $508,000 for the third quarter of 2013, a 61% increase from the $316,000 in net income reported for the same quarter of 2012. The figure amounts to 20 cents per share of the bank's stock, up from 13 cents per share a year ago.
Through the first nine months of this year, the bank reported a loss of $438,000 after taking one-time charges to write off some loans and boost loan-loss reserves, said Fresno First president and CEO Rick Whitsell. But, Whitsell added, "our $508,000 in net income was one of the best quarters in the bank's history."
The bank reported total assets of $222.5 million as of Sept. 30, about $27.5 million more than in the third quarter of 2012. Deposits and loans were also up from a year ago.
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