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Bank of the Finger Lakes parent sees profit rise

By THOMAS ADAMS - 1/16/2013 4:02:27 PM

USNY Bank Inc., parent of Bank of the Finger Lakes in Geneva, this week reported net income of $457,822 for the fourth quarter, up 40 percent from a year ago.

Net income for the full year was $1.95 million, up 50 percent from 2011, the bank reported. Total assets on Dec. 31 were $145.9 million, up 33 percent from $109.5 million on Dec. 31, 2011.

“Our operating results put us among the higher-performing banks in the state,” President and CEO Michael Briggs said in a statement released Monday. “We have shown significant growth in assets and continued improvement in both profits and operating efficiency.”

USNY Bank, headquartered in Geneva, is the holding company for Bank of the Finger Lakes and Bank of Cooperstown.

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