Business Bancshares, Inc. and The Business Bank of St. Louis Announce Highest Quarterly Earnings in the History of the Company
Third Quarter 2015 Financial Results
St. Louis, MO, November 06, 2015 --(PR.com)-- Business Bancshares, Inc. and the Business Bank of St. Louis Announce Third Quarter 2015 Financial Results; Highest Quarterly Earnings in the History of the Company; Consolidated Year-to-Date Net Income Increased 33%
Business Bancshares, Inc., parent holding company for The Business Bank of St. Louis, and The Business Bank of St. Louis today announced third quarter 2015 financial results.
Business Bancshares, Inc. reported net income of $1.554 million for the third quarter of 2015, a 63% increase compared to net income of $952 thousand for the same time period a year ago. Year-to-date earnings increased 33% to $3.706 million compared to $2.790 million a year ago. Earnings per share through September increased to $1.31 from $1.01 last year.
The Company reported total assets as of September 30, 2015 of $556 million compared to $544 million a year ago. Net loans increased $16.7 million during the same period. Total deposits increased $1.8 million to $470 million. Total shareholders’ equity is $60.5 million, an increase of $4.8 million from a year earlier. Capital ratios are significantly above the “well-capitalized” thresholds. Nonperforming assets as a percentage of total assets declined to 1.25%, compared to 1.41%, twelve months earlier.
“We are excited to report the highest quarterly earnings in the history of the company,” said Larry Kirby, Chief Executive Officer and President of Business Bancshares Inc. and The Business Bank of St. Louis. “All areas of the bank are thriving, as loans, core deposits and fee income all grew during the quarter, while our asset quality remains strong.”
The Business Bank of St. Louis, the primary subsidiary of Business Bancshares, Inc., reported net income for the third quarter of 2015 of $1.575 million compared to $1.048 million during the third quarter of 2014. Year-to-date earnings increased to $3.920 million compared to $3.051 million last year.
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, Missouri.
Contact: Brian J. Leeker, Chief Financial Officer (314) 556-6788.
Business Bancshares, Inc., parent holding company for The Business Bank of St. Louis, and The Business Bank of St. Louis today announced third quarter 2015 financial results.
Business Bancshares, Inc. reported net income of $1.554 million for the third quarter of 2015, a 63% increase compared to net income of $952 thousand for the same time period a year ago. Year-to-date earnings increased 33% to $3.706 million compared to $2.790 million a year ago. Earnings per share through September increased to $1.31 from $1.01 last year.
The Company reported total assets as of September 30, 2015 of $556 million compared to $544 million a year ago. Net loans increased $16.7 million during the same period. Total deposits increased $1.8 million to $470 million. Total shareholders’ equity is $60.5 million, an increase of $4.8 million from a year earlier. Capital ratios are significantly above the “well-capitalized” thresholds. Nonperforming assets as a percentage of total assets declined to 1.25%, compared to 1.41%, twelve months earlier.
“We are excited to report the highest quarterly earnings in the history of the company,” said Larry Kirby, Chief Executive Officer and President of Business Bancshares Inc. and The Business Bank of St. Louis. “All areas of the bank are thriving, as loans, core deposits and fee income all grew during the quarter, while our asset quality remains strong.”
The Business Bank of St. Louis, the primary subsidiary of Business Bancshares, Inc., reported net income for the third quarter of 2015 of $1.575 million compared to $1.048 million during the third quarter of 2014. Year-to-date earnings increased to $3.920 million compared to $3.051 million last year.
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, Missouri.
Contact: Brian J. Leeker, Chief Financial Officer (314) 556-6788.
Contact
The Business Bank of St. Louis
Deb Brandenberg
314-556-6627
bbstl.com
Deb Brandenberg
314-556-6627
bbstl.com
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