Crystal Valley Financial Corporation Approves Dividend for the Fourth Quarter of 2014, Payable on November 18, 2014; Announces Earnings Results for the Third Quarter and Nine Months of 2014
The company announced earnings results for the third quarter and nine months of 2014. For the quarter, net income was $1,157,000. These are very positive results when compare the results for 2014 versus 2013. With the positive trends of the corporation's asset quality in 2013, a $625,000 negative provision for loan loss was taken versus provisions for loan loss for 2014 of $50,000. This represents a positive earnings effect of $675,000 for 2014.
For the nine months, total income was $3,385,000.