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Net income jumps at Fairport Savings Bank parent

Rochester Business Journal
November 1, 2013

The holding company for Fairport Savings Bank reported third-quarter net income of $142,000, up 184 percent from a year ago.

FSB Community Bankshares Inc. on Wednesday reported earnings of 8 cents a share. The company posted net income of $50,000, or 3 cents a share, in the third quarter 2012.

The year-over-year increase was the result of a $154,000 increase in net interest income and a $30,000 jump in other income, the bank reported.

Those numbers were offset by a $46,000 increase in other expense, a $34,000 increase in income tax expense and a $12,000 increase in money set aside to cover bad loans, it reported.

Fairport Savings Bank has its headquarters in Fairport, with branches in Irondequoit, Penfield, Perinton and Webster. It ranks 13th in the Rochester market with local deposits of $168 million. 

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


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