County First Bank reports net profits of $531,032 through the first six months of 2011. Despite the continued economic chaos, high unemployment, and global financial uncertainty, County First Bank continues to prosper and retain our 5-star Bauer Financial rating.
For the 12-months ending June 30, 2011, deposits and sweep accounts have grown by 3.1% while net loans have decreased by 3.4% due to regular loan repayments and weak loan demand. In addition, we continue to build our loan loss reserve by $50,000 per month which now equals $1,769,875 or 1.21% of gross loans, up from .91% this time last year. County First Bank remains well-capitalized, liquidity is strong, and we have money to lend in our market area.
County First Bank is a locally owned and operated community bank serving the Southern Maryland counties of Charles, St. Mary’s, and Calvert. We pride ourselves on friendly customer service, and when you call us, a live person answers the phone.
