Eagle Bank and Trust Announces 1st Quarter 2015 Financial Results

By: Eagle Bank and Trust Company of Missouri
 
 
Eagle Bank and Trust Announces 1st Quarter 2015 Financial Results
Eagle Bank and Trust Announces 1st Quarter 2015 Financial Results
ST. LOUIS - May 5, 2015 - PRLog -- Eagle Bank and Trust Company of Missouri today announced improved financial and operating results for the first quarter ending March 31, 2015.

Key Financial Metrics

·         Net Income of $1.66 million for the first quarter 2015.

·         Total Assets of $905 million.

·         Loan Volume increased 1.2% over the prior period.

The Company reported net income of $1.66 million for the first quarter, compared to a net income of $1.62 million for the first quarter of 2014.

Loans increased 1.2% or $7.6 million compared to year-end 2014. Total assets as of March 31, 2015 were $905 million or a 2.0% increase from December 31, 2014.

Total deposits grew to $758 million, an increase of 2.2% compared to December 31, 2014.  Non-interest-bearing deposits increased 2.3% and interest-bearing deposits increased 2.1%.

“Eagle Bank and Trust has delivered strong results for the first quarter of the year” states President and Chief Executive Officer Michael Walsh.  “Commercial loan demand in the St. Louis region remains relatively low, coupled with a highly competitive banking environment.  The Bank and its management team continue to focus on developing strong, relationship-based business opportunities that meet the demanding needs of our customers without creating excessive pressure on net interest margin, liquidity, or long-term earnings stability.”

For detailed information on the Bank’s financial performance in the first quarter, please refer to our call report at https://ffiec.gov.

During the first quarter the Bank broke ground for a new retail branch to be located at the intersection of Lindell Boulevard and North Sarah Street in Mid-town St. Louis.  This will be the Bank’s second full-service branch located in the City of St. Louis, and is part of the Bank’s strategy of developing branches in traditionally under-served areas of the region.  The Lindell branch is scheduled to open during the fourth quarter of 2015.

“We expect market conditions to remain constant through the end of 2015,” said Mr. Walsh.  “We continue to aggressively look for new growth opportunities as we expand our market presence in the underserved Central Corridor of St. Louis City.”

About Eagle Bank and Trust Company of Missouri

Established in 1911, Eagle Bank and Trust, is a locally owned and operated community bank that strives to enhance the economic vitality of the communities it serves.  With more than $900 million in assets, Eagle Bank delivers a full range of competitive banking products and services through 12 full service branches located in St. Louis and Jefferson Counties and Perryville, Missouri. The bank is consistently recognized throughout the region for its excellent customer service and superior financial products. For more information, contact Nathan Nelson at 314-647-9991 or visit http://eaglebankandtrust.com/
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Source:Eagle Bank and Trust Company of Missouri
Email:***@eaglebankandtrust.com Email Verified
Tags:Financial Services, Commercial Loans
Industry:Banking
Location:St. Louis - Missouri - United States
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