Citizens earns $10.1 million in record quarter Laurel firm's assets grew 10.5% to $4.2 billion

July 11, 1996|By FROM STAFF REPORTS

Citizens Bancorp earned a record $10.1 million in the second quarter as income from loans and fees for services bolstered the Laurel-based banking company's bottom line.

The $4.2 billion-asset banking company earned 67 cents a share for the quarter ended June 30, compared with $8.8 million, or 59 cents a share, for the second quarter in 1995.

Citizens shares closed at $29.875 yesterday, down 12.5 cents.

For the first six months of 1996, Citizens earned nearly $20 million, up 14 percent from the same period in 1995.

Assets jumped 10.5 percent to $4.2 billion in the second quarter, loans grew by 15 percent to $2.3 billion, and deposits were up 6.9 percent to $3.1 billion, the banking company said.

Troubled loans fell to $45.5 million in the 1996 second quarter from $48.7 million the same time a year ago.

Pub Date: 7/11/96

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