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Follow on Google News | Greer Bancshares Incorporated Reports Record Annual Profit for 2013Results mark the second straight year of profitability after economic downturn
By: Greer State Bank “We continue to see strength in our earnings as we recognize our ninth consecutive quarter of profitable performance,” The company also reported that current trends in the Bank’s past dues and non-accrual loans continue to improve. Non-accrual loans decreased to $2.6 million, down from $3.9 million at December 31, 2012; and past-due loans were $1.6 million, down from $2.9 million at December 31, 2012. As of December 31, 2013: • Total assets were $359 million, a decrease of .5% from $361 million at December 31, 2012; • Total loans outstanding were $187 million, down from $196 million at December 31, 2012; and • Total deposits were $253 million, a decrease from $261 million at December 31, 2012. “Our commitment to serve the banking needs of our local customers with outstanding financial solutions and customer care will remain a priority as a community bank,” Burdette continued. “We are pleased to have been a part of the Greer area growth and success for over 25 years.” About Greer State Bank Now in its twenty-sixth year of operations, Greer State Bank serves the greater Greer community with three branch offices and a fourth branch office in the Taylors community. Greer Bancshares Incorporated trades in the over the counter market and is quoted on the OTC Bulletin Board under the symbol GRBS. More information on Greer State Bank can be found on the company website at http://www.GreerStateBank.com. This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements relate to, among other things, future economic performance, plans and objectives of management for future operations, and projections of revenues and other financial items that are based on the beliefs of management, as well as assumptions made by, and information currently available to, management. The words “may,” “will,” “anticipate,” # # # End
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