CLEARWATER, Fla. (May 10, 2013) –USAmeriBancorp, Inc., the parent company of Florida- based USAmeriBank and Alabama-based Aliant Bank, posted solid operating results in the first quarter of 2013, it announced today.
For the first quarter, the company reported net income to common shareholders of $6.3 million, compared to $4.7 million in the previous year’s period, while earnings per share were 66 cents, vs. 51 cents in the year-ago period. Book value per share rose to $19.28, compared to $17.01 in the year-ago period.
Meanwhile, the bank’s credit quality continues to improve, with the ratio of non-performing assets to total loans at 1.74% at the end of the first quarter, compared to 2.71% a year earlier.
The performance reflects USAmeriBancorp’s continued success in finding opportunities for quality loans as the bank offers a wide range of financial help to its clients. Deposits in Florida grew to $1.3 billion in the first quarter, compared to $1 billion in the year-ago period, while in Alabama, deposits grew to $870 million, vs. $769 million in the year-ago period.
USAmeriBank is working hard to facilitate referrals back and forth with its Connelly, Carlisle, Fields & Nichols insurance division, while the bank’s wealth management group is growing rapidly in both the Florida and Alabama markets. Meanwhile, the bank’s retail presence continues to grow, with USAmeriBank opening its newest branch in April, in the heart of Tampa’s thriving Westshore district.
“We continue to see signs of economic recovery in both Florida and Alabama,” said Joseph V. Chillura, CEO of USAmeriBancorp. “We will continue to work hard to find and maximize the opportunities for profitable growth.”
USAmeriBank is an independent, non-public bank based in Clearwater, Fla. that has established itself as an outstanding middle-market financial institution. The bank serves the needs of individuals and businesses in the Tampa Bay area by providing a high-level of personalized service and attention to a targeted customer base. USAmeriBank’s parent company is USAmeriBancorp, Inc. More information is available at www.USAmeriBank.com.