Integrity Bancshares Reports 21% Increase in Profits
Integrity Bancshares, Inc., the parent company of Integrity Bank, reported an increase of 21% in earnings for the second quarter 2009. Income grew from $547,000 for the second quarter of 2008 to $660,000 for the second quarter 2009. During the same period assets grew to $440 million, a 23% growth from $359 million at June 30, 2008. Loans grew 27% to $398 million from $313 million. Excluding the industry-wide, one-time special assessment from the FDIC of $204,000, earnings after tax would have been approximately $795,000, an increase of over 45% from the prior year.
Jim Gibson, Chairman and Chief Executive Officer stated “We have had these significant increases due to our reputation in the community, the desire of consumers to work with local banks, and the recent merger activities of some of our competitors.” He also stated “While others are considering staff cuts, we are looking to expand our commercial and residential lending areas to keep pace with our growth.”
Integrity Bank has offices in Dauphin, Cumberland and York Counties.
Questions may be directed to Jim Gibson at 717 920-3685 or Laurel Leitzel
at 717 920-3690.