Business Bancshares, Inc. and The Business Bank of St. Louis Announce Third Quarter 2014 Financial Results
St. Louis, MO, November 07, 2014 --(PR.com)-- Business Bancshares, Inc., parent holding company for The Business Bank of St. Louis, and The Business Bank of St. Louis today announced third quarter 2014 financial results.
Business Bancshares, Inc. reported net income of $952 thousand for the third quarter of 2014 compared to net income of $1.038 million for the same time period a year ago. Earnings per common share totaled $0.34. Year-to-date net income available to common shareholders increased to $2.790 million from $2.775 million a year ago.
The Company reported total assets as of June 30, 2014 of $544 million compared to $518 million a year ago. Net loans increased $9 million during the same period. Total deposits increased $25 million to $468 million. Total shareholders’ equity is $55.7 million, an increase of $13.9 million or 33% from a year earlier. The increase from 2013 includes $10 million of new common equity raised from Castle Creek Capital Partners V, LP during the fourth quarter of 2013. Capital ratios are significantly above the “well-capitalized” thresholds. Nonperforming assets as a percentage of total assets are 1.41%, compared to 2.79%, twelve months earlier and the lowest level since the fourth quarter of 2006.
“We are proud to report another significant reduction of nonperforming assets coupled with growth in loans and deposits. We continue to execute on our plans laid out several years ago and are poised to finish 2014 strong,” said Larry Kirby, Chief Executive Officer and president of Business Bancshares Inc. and The Business Bank of St. Louis.
The Business Bank of St. Louis, the primary subsidiary of Business Bancshares, Inc., reported net income for the third quarter of 2014 of $1.048 million compared to $1.198 million during the third quarter of 2013. Year-to-date net income totaled $3.051 million compared to $3.261 million a year ago. “We are positioned to leverage our strong capital ratios to continue to grow and expand the Bank,” said Charles Thal, Chairman of The Business Bank of St. Louis.
Business Bancshares, Inc. is a single bank holding company and parent of The Business Bank of St. Louis. The Business Bank was founded in 2002 and operates a full service banking facility from its single location at 8000 Maryland Avenue in Clayton, Mo. For more information, contact Brian Leeker at (314) 721-8003.
Business Bancshares, Inc. reported net income of $952 thousand for the third quarter of 2014 compared to net income of $1.038 million for the same time period a year ago. Earnings per common share totaled $0.34. Year-to-date net income available to common shareholders increased to $2.790 million from $2.775 million a year ago.
The Company reported total assets as of June 30, 2014 of $544 million compared to $518 million a year ago. Net loans increased $9 million during the same period. Total deposits increased $25 million to $468 million. Total shareholders’ equity is $55.7 million, an increase of $13.9 million or 33% from a year earlier. The increase from 2013 includes $10 million of new common equity raised from Castle Creek Capital Partners V, LP during the fourth quarter of 2013. Capital ratios are significantly above the “well-capitalized” thresholds. Nonperforming assets as a percentage of total assets are 1.41%, compared to 2.79%, twelve months earlier and the lowest level since the fourth quarter of 2006.
“We are proud to report another significant reduction of nonperforming assets coupled with growth in loans and deposits. We continue to execute on our plans laid out several years ago and are poised to finish 2014 strong,” said Larry Kirby, Chief Executive Officer and president of Business Bancshares Inc. and The Business Bank of St. Louis.
The Business Bank of St. Louis, the primary subsidiary of Business Bancshares, Inc., reported net income for the third quarter of 2014 of $1.048 million compared to $1.198 million during the third quarter of 2013. Year-to-date net income totaled $3.051 million compared to $3.261 million a year ago. “We are positioned to leverage our strong capital ratios to continue to grow and expand the Bank,” said Charles Thal, Chairman of The Business Bank of St. Louis.
Business Bancshares, Inc. is a single bank holding company and parent of The Business Bank of St. Louis. The Business Bank was founded in 2002 and operates a full service banking facility from its single location at 8000 Maryland Avenue in Clayton, Mo. For more information, contact Brian Leeker at (314) 721-8003.
Contact
The Business Bank
Rochelle Brandvein
(314) 721-8003
www.bbstl.com
Rochelle Brandvein
(314) 721-8003
www.bbstl.com
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