The banks' retained earnings in Q1 of 2014 is $307K. How does that compare to last years' Q1? It was $109K...which means the bank had a 281%increase in earnings Q1 over Q1.
When you consider this low interest rate environment banks around the country are having to pinch out a living in ..I think ALBY did excellent.
I'm encouraged.
I was just telling a friend not 10 minutes ago (before I looked up the latest financial report) I didn't like the $4MM in Trust Preferred debt the holding company has...and I still don't like it...but their progress on the earnings front is gaining some momentum now ...and I like the trend we're seeing.
All info here was taken from the most recent FFIEC UBPR report;