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Fairport Savings Bank parent sees huge net income jump

Rochester Business Journal
July 31, 2014

The holding company of Fairport Savings Bank reported a nearly 400 percent increase in net income for the second quarter.

FSB Community Bankshares Inc. reported net income of $144,000, or 8 cents a share for the quarter ending June 30, up from $29,000 or 2 cents a share in 2013.

The increase was buoyed by a $238,000 jump in net interest income and a $48,000 increase in other income, the bank reported. Those improvements were offset by an $85,000 increase in other expenses, a $7,000 increase in the provision for bad loans and a $79,000 increase in income tax expense.

Fairport Savings Bank is headquartered in Fairport, with branches in Penfield, Webster, Irondequoit and Perinton.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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