This Week
  • Buckingham Properties inks a new lease with key tenant for Legacy Tower.

  • Banks and credit unions grow and compete for market share in the region.

  • Teresa Galbier is CEO of the local chapter of Alzheimer's Association.

  • See the 20th anniversary edition of the Forty under 40 supplement.

  • Faraci Lange LLP specializes in medical malpractice and injury law.

  • Thuc Hyunh M.D. has Rochester's first direct primary care practice.

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