Consolidated year-to-date net income increased 17%.
St. Louis, MO, August 15, 2015 –(PR.com)– Business Bancshares, Inc., parent holding company for The Business Bank of St. Louis, and The Business Bank of St. Louis today announced second quarter 2015 financial results.
Business Bancshares, Inc. reported net income of $1.044 million for the second quarter of 2015 compared to net income of $1.149 million for the same time period a year ago. Year-to-date earnings increased 17% to $2.152 million compared to $1.838 million a year ago. Earnings per share through June increased to $0.76 from $0.67 last year.
The Company reported total assets as of June 30, 2015 of $553 million compared to $516 million a year ago. Net loans increased $2.2 million during the same period. Total deposits increased $43 million to $475 million. Total shareholders’ equity is $59 million, an increase of $3.9 million from a year earlier. Capital ratios are significantly above the “well-capitalized” thresholds. Nonperforming assets as a percentage of total assets are 1.95%, compared to 1.99%, twelve months earlier.
“We are excited to report continued strong earnings during the second quarter,” said Larry Kirby, Chief Executive Officer and President of Business Bancshares, Inc. and The Business Bank of St. Louis. “I also look forward to working with our newly elected Bank Chairman, Dan Guirl, as we build on our recent successes and move towards becoming a high performing organization.”
The Business Bank of St. Louis, the primary subsidiary of Business Bancshares, Inc., reported net income for the second quarter of 2015 of $1.137 million compared to $1.168 million during the second quarter of 2014. Year-to-date earnings increased to $2.345 million compared to $2.003 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, Mo. For more information, contact Brian Leeker at (314) 721-8003.
The Business Bank