Bippus State Bank Year-End 2009

Posted on Monday, February 08, 2010

Bippus State Bank reports 2009 (operating) earnings of $1,503,000. This
total compares to 2008 earnings of $679,000. The primary reasons for the
bank’s outstanding performance are an increase in net interest margins,
improved non-interest income and reduction of employee-related expenses.

Bippus State Bank’s 2009 year-end capital was $10,040,000 compared to
2008 year-end capital of $929,000. The bank’s year-end 2009 capital to
asset ratio is 8.69% which by regulatory standards is considered “well

At the end of 2009, Bippus State Bank’s total assets were $113,988,000
compared to $108,025,000 at the end of 2008, an increase of 5.52%.

Bippus State Bank’s 2009 loan portfolio increased at 7.28% to $82,132,000
compared to end of 2008 at $76,557,000. 2009 total deposits increased to
$87,489,000, an increase of approximately $3M from 2008. This deposit
growth attributed to the bank’s 2009 Return on Equity (ROE) of 14.86% and
Return on Assets (ROA) of 1.38%.

Bippus State Bank was established in 1911 and continues to be a locally
owned community bank with offices in Huntington, Roanoke and North
Manchester. In 2011, Bippus State Bank will be celebrating 100 years of
continuous service to its customers and communities.

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