Town Center Bank Reports 2nd Quarter Results
September 25 2013 - 2:14PM
OTC Markets
TOWN CENTER
BANK
REPORTS JUNE 30, 2013
RESULTS
New Lenox, IL, July 25, 2013 ? Town
Center Bank (the ?Bank?) (TCNB), today announced its financial
results for the three and six months ended June 30, 2013.
There was a net loss
of $70,000 and $116,000 for the three months ended June 30, 2013
and 2012, respectively. The improvement in operating
results for the quarter is primarily due to not realizing an other
real estate valuation provision that impacts the income statement
offset by less interest income earned on loans. There was a net loss of $187,000
and $276,000 for the six months ended June 30, 2013 and 2012,
respectively. The
improvement in operating results is due primarily to not realizing
an other real estate valuation provision that impacts the income
statement as well as a $193,000 FHLB prepayment penalty offset by
less interest income earned on loans.
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