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NCB, FSB reports net income of $3.4 million in fourth quarter 2009

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Hillsboro, OH (February 17, 2010) —Today, NCB, FSB, a federally chartered savings bank dedicated to serving cooperatives, reported a net income of $3.4 million for the fourth quarter 2009.   NCB, FSB also reported total assets of $1.6 billion and total deposits of $1.2 billion as of December 31, 2009.

"NCB, FSB had a strong fourth quarter in 2009.  With asset quality stabilizing and strong gains on loan sales, we are proud to report positive earnings at the end of the year,” said Chris Goettke, Co-President Ohio Region of NCB, FSB.

As a result of the strong quarter the Bank’s total risk based capital increased .80% to 12.59% -- a ratio over the 10.0% requirement for financial institutions to be considered well capitalized.  

“The positive performance of the fourth quarter sets a great precedent for 2010,” said Goettke.  “We intend to continue on this course by managing our balance sheet and focusing our efforts on serving our primary customer segments; housing communities, business cooperatives and socially responsible organizations and those in the local community.”[[In-content Ad]]

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