B&K reports much-improved quarterly net income
by For the MBJ
Published: April 26,2011
NATCHEZ — The board of directors of Britton & Koontz Capital Corporation report net income and earnings per share for the quarter ended March 31, 2011, of $575,000 and $.27 per diluted share, respectively, compared to $63,000 and $.03 per diluted share, respectively, for the quarter ended March 31, 2010.
During the first quarter of 2011, B&K’s provision for loan losses declined $350,000, from $1.1 million to $750,000, while gains on sales of investment securities increased $219,000 during the same period.
Additionally, earnings in the first quarter of 2010 were impacted by a $306,000 charge incurred after management concluded that the recovery of loan and related late fees previously believed to be recoverable was ultimately uncertain at best.
Finally, net interest income during the first quarter of 2011 decreased $308,000, compared to the same period in 2010.
Source: Britton & Koontz
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Voters to decide whether hunting, fishing is constitutional right
- Dak Prescott's autograph fetches a pretty penny
- Gulf oil and gas leases to go up for sale in March
- Grand juries charge seven with election violations
- Butler Snow names Crockoft new office director
- Farm theft investigation recovers $200K in stolen equipment
- Airport gets grant to support seasonal service from Sun Country
- State officials identify first flu case this season
- STAYING POSITIVE — Career attitude help Brynn Joachim to fight disease at 41