CSB Reports Second Quarter Financial Results
Trudy K. Everhart, president and CEO of Community State Bank of Orbisonia and Orbisonia Community Bancorp, Inc. has announced unaudited financial results as of June 30, 2017.
The corporation's total assets ended the quarter at $324.8 million, an increase of $1.3 million, or .40 percent, compared to total assets of $323.5 million as of June 30, 2016. Asset growth continues to be driven by strong loan growth, which rose $6.6 million to $277.9 million, or 2.44 percent, from $271.3 million at the end of June 2016. Deposits grew by $400,000 to $284.6 million, an increase of .14 percent from $284.2 million a year ago.
Everhart says, "We credit our continued success to our loyal customers in all of our market areas. We have been overwhelmed with how the communities have supported us over the years, in turn we look forward to supporting them for many more years to come."
Year-to-date, non-interest expenses increased by $369,424, or 7.96 percent, to 5.01 million as of June 30, 2017, from 4.64 million the prior year. A substantial portion of this increase is from the enhancements that the Bank has performed on its infrastructure; including upgrades to online and mobile products to further protect customers against fraud and identity theft.
The Board of Directors of Orbisonia Community Bancorp, Inc. also declared a quarterly dividend in the amount of 20 cents per share of record June 30, 2017 payable on July 6, 2017.
As Huntingdon County's only locally owned bank headquartered in Huntingdon County, we remain committed to enhancing long term value to shareholders while providing exceptional service to our customers and reinvesting in the communities in which we serve.