Saturday, Apr 21, 2018
One of America's Great Newspapers ~ Toledo, Ohio


Rurban adds to bad-loan reserves, reports $1.1M profit

DEFIANCE Rurban Financial Corp. has reported first quarter profits of $1.1 million, or 23 cents a share, about even with the $1.11 million, or 22 cents a share, reported in the year-earlier period.

"We are pleased we were able to report consistent earnings despite an increase in our provision for loan losses as compared to the year-ago quarter," Chief Executive Kenneth Joyce said in written comments.

Rurban boosted money set aside to cover bad loans by $300,000 to $495,000, mainly to deal with an overdue loan by a large commercial customer.

The firm, which operates as State Bank & Trust Co., said Wednesday that customer deposits rose by $12.8 million, or 5 percent, during the three-month period ended March 31. Officials attribute that, in part, to a decision not to accept funds from the federal government s Troubled Asset Relief Program.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…