Nashville Bank & Trust Reports Fourth Quarter and Full Year 2012 Results
NASHVILLE, Tenn.--(BUSINESS WIRE)-- NBT Holdings Inc. (OTC Markets: NBTH), a bank holding company and the parent of Nashville Bank & Trust Company, reported consolidated net income of $841,000 for the fourth quarter of 2012, a 37 percent increase compared with $615,000 for the fourth quarter of 2011. Earnings per fully diluted share for the quarter ending Dec. 30, 2012 totaled $0.37 versus $0.27 for the same period in 2011.
For the year ending Dec. 31, 2012, net income was $2,898,000 compared to $2,015,000 for the comparable period in 2011, a 44 percent increase. Earnings per fully diluted share rose to $1.26 for the year compared to $0.89 in 2011.
At Dec. 31, 2012, the bank reported total assets of $300.2 million, a 24 percent increase from Dec. 31, 2011. Over the same period, deposits increased 28 percent to $252.1 million, while total loans grew 12 percent to $190.7 million. At Dec. 31, 2012, the Bank's Tier 1 leverage ratio was 9.50 percent.
Non-interest income for the final quarter of 2012 was $1,266,000, compared to $1,024,000 for the same period in 2011, an increase of 24 percent.
Tangible Book Value per share at Dec. 31, 2012 was $12.97 compared to $11.49 at the same time a year ago.
"This was an excellent year for our company," said CEO Tom Stumb. "We returned 10.6% on average equity and 1.1% on average assets, the best in our history. The assets of the bank exceeded $300 million for the first time and the assets in our Wealth Management business exceeded $540 million at year end. We accomplished this growth without compromise to our asset quality, which remains superb as we end 2012. The coming year will present major challenges as we work to maintain margins in a very low interest rate environment."
A full-service bank and wealth management company, Nashville Bank & Trust services include personal and business loans, depository accounts, wealth management and trust services. Personal, expert service is the bank's hallmark. Customers benefit from direct contact with senior-level, experienced bank executives who have decision-making authority and a full understanding of the local community and the client's relationship with the bank.
Nashville Bank & Trust
Andrew L. May, 615-515-1707
KEYWORDS: United States North America Tennessee
The article Nashville Bank & Trust Reports Fourth Quarter and Full Year 2012 Results originally appeared on Fool.com.
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