Officials with the Springs Valley Bank & Trust Corporation are reporting strong year-to-date returns.
The company says Return on Average Assets, Return on Average Equity, and capital ratio were all solid and says the bank recorded unaudited year-to-date earnings of $2 Million.
This translates to a 92 percent return on average assets, an 8.29 percent return on average equity and more than a 10 and a half percent tangible capital ratio.
Compared to a year ago, the bank’s year-to-date Return on Average Assets, Return on Average Equity, and tangible capital ratio were 1.09 percent, 9 and a half percent and 11.08 percent respectively.
The bank’s net interest margin grew slightly through September 30th of this year, as compared to the prior year-end. The bank reported strong loan growth year-to-date which has increased to $231.2 million from $196.3 million from December 31, 2014, resulting in an increase in net interest income to 7 and a half million dollars through September 30th compared to $6.8 million through the same period last year.
The achievement of these positive trends allowed the bank’s board of directors to declare a dividend of $.65 per share to all shareholders of record as of November 13th, payable on or about December 16th. This is an increase of over 15 percent compared to the annual dividend paid in December 2014.