Thursday, Jul 28, 2016
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Economy

Rurban Financial Corp.'s third-quarter profit is up from 2011

DEFIANCE — Rurban Financial Corp., parent firm of State Bank & Trust Co., reported a third-quarter profit Tuesday of $1.3 million, or 27 cents a share, up from $600,000, or 12 cents a share, in the same period in 2011.

The bank reported strong performance in its mortgage division, with third-quarter loan originations reaching a record-high of $90.7 million, up 31 percent from the $21.7 million recorded in 2011’s third quarter.

Net-interest income rose 0.7 percent over the same quarter last year to $5.52 million. The bank said it had total assets of $630.2 million at quarter’s end, up 1 percent from 2011.

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