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.
Posted in General