SVB&T Corporation, the Parent Company of Springs Valley Bank & Trust Company, Reports Unaudited Financial Data for Year to Date June 30, 2017. The company says it received unaudited year to date earnings of $1.7 million or $2.97 basic earnings per share.
A company release says this compares to earnings a year earlier of $1.6 million or $2.85 basic earnings per share.
The corporation’s total assets increased by $11.9 million.
Total deposits increased $11.7 million from December 31, 2016. The growth was primarily in short-term deposits. Over that same period, borrowings decreased to $29.4 million.
The corporation reported total loans of $282.7 million June 30th, an increase of $9.5 million over December 31, 2016 and a $22.6 million increase from June 30th of last year.
President and CEO Jamie Shinabarger says despite the gridlock in Washington, after six months of a new administration the economy continues to slowly gain momentum while sending mixed signals.
He says the financial sector continues to lead the way in the robust equities market and serves as a barometer for the economy overall.
