This Week
  • UTC Retail Inc. grabbed the top spot on the 2014 Rochester Top 100.

  • Jean Maess is the site executive for Thomson Reuters, a top local employer.

  • UTC Retail Inc. grabbed the top spot on the 2014 Rochester Top 100.

  • Kelby Russell wants you to know: Local wines are among the world's finest.

  • The nominees for the upcoming 2014 Philanthropy Awards are profiled.

  • WebTitle Agency continues to grow following its 2012 merger with Customized Lenders Services.

Net income jumps 44% at Canandaigua National

Rochester Business Journal
May 9, 2013

Canandaigua National Corp. reported a 44 percent increase in first-quarter net income attributable to shareholders, thanks to revenue increases and less money set aside to cover bad loans.

The company filed its report with the U.S. Securities and Exchange Commission late Wednesday afternoon.

The parent of Canandaigua National Bank and Trust Co. reported income of nearly $5.1 million, or $2.63 a share, for the quarter ending March 31. The bank reported earnings of $3.5 million, or $1.83 a share, in the first quarter 2012.

The most recent results included a $300,000 increase in total revenues compared with a year ago, and a decrease to $700,000 from $1.15 million in the provision for loan losses.

The bank also reported an 8 percent drop in operating expenses, to $16.5 million, due in part to a lower stock appreciation rights accrual.
 
(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