LifeStore Financial Group Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2013
June 18, 2013
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LifeStore Financial Group reported earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported interest income and dividends of $2,746,000 against $3,217,000 for the same period in the last year. Net interest income was $2,077,000 against $2,352,000 for the same period in the last year. Income before income tax expense was $210,000 against $397,000 for the same period in the last year. Net income was $189,000 against $325,000 for the same period in the last year.
For the nine months, the company reported interest income and dividends of $8,591,000 against $9,862,000 for the same period in the last year. Net interest income was $6,465,000 against $7,171,000 for the same period in the last year. Income before income tax expense was $709,000 against $528,000 for the same period in the last year. Net income was $606,000 against $555,000 for the same period in the last year.
LifeStore Financial Group, Inc. is a chartered bank holding company, which owns 100% of the common stock of LifeStore Bank (the Bank), LifeStore Insurance Services, Inc. and Ashe Lane Capital Trust. The Bank is a commercial bank, which offers full-service banking services designed to meet the needs of retail and commercial customers. The Bank is an independent insurance agency offering traditional property and casualty, life and health insurance products. The Company has two segments: banking and insurance. The Bankâs personal and business banking services include checking, savings, mobile banking, mobile wallet, mortgages, personal loans and lines of credit, credit card processing, cash management services, non-personal certificates of deposit (CDs), reSubmitit check recovery, commercial loans, and agriculture loans. LifeStore Insurance Services, Inc. is an independent insurance agency with a network of seven offices throughout northwestern North Carolina.