- The Enterprise
- The Recorder
Tri-County Financial Corp., the holding company for Community Bank of Tri-County, reported consolidated net income available to common shareholders for the three months that ended Sept. 30 of $1,422,941, or 47 cents per common share (diluted), compared to $1,008,547, or 33 cents per common share (diluted), for the three months that ended Sept. 30, 2011.
The increase was primarily attributable to increased net interest income and noninterest income partially offset by an increase in the provision for loan losses and noninterest expense.
“Since 2005, our earnings per share has been higher in only one other quarter. At 47 cents per common share, this is the best quarter Tri-County Financial Corporation has had since the third quarter of 2007 before the financial crisis,” said Michael Middleton, chairman and CEO, in a news release. “Our current year focus of improving financial performance is working. The investment made in our community in the aftermath of the financial crisis has positioned us to return long-term shareholder value.”