This Week
  • Meredith Dragon has taken the reins at the Jewish Federation of Greater Rochester.

  • New federal employment rules promise to bring a tsunami of change.

  • Distributed Technology Group was acquired by Accunet Solutions, a Boston-based technology company.

  • After a merger or acquisition, banks must make all the pieces work together.

  • This year's supplement features an interview with Danny Wegman.

  • Ilana Griffo is a letterer, business owner and lifelong learner.

Fairport Savings Bank parent swings to Q1 profit

Rochester Business Journal
May 13, 2013

The parent of Fairport Savings Bank reported first-quarter net income of $7,000, compared with a net loss of $113,000 in the first quarter 2012.

Earnings per share for FSB Community Bankshares Inc. were breakeven, compared with a loss of 7 cents a share a year ago, the bank reported in a filing late last month with the U.S. Securities and Exchange Commission.

The improvement is the result of $1.4 million in net interest income, up $103,000 from a year ago, and a $97,000 decrease in other expenses, to just less than $2 million, the bank reported.

The improvements partially were offset by a $14,000 increase in the bank’s provision for bad loans, to $22,000.

FSB Community Bankshares is the mid-tier holding company for the bank, which has five branches in the Rochester market. It ranks 15th in the market with local deposits of $170.1 million as of June 30, data from the Federal Deposit Insurance Corp. shows.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google