CLEARWATER, Fla. (July 31, 2013) –USAmeriBancorp, Inc., the parent company of Florida- based USAmeriBank and Alabama-based Aliant Bank, posted solid operating results in the second quarter of 2013, it announced today.
For the second quarter, USAmeriBancorp reported net income to common shareholders of $9.8 million, compared to $3.9 million in the previous year’s period, while diluted earnings per share were 96 cents, vs. 41 cents in the year-ago period. Book value per share rose to $19.60, compared to $17.59 in the year-ago period.
The company’s credit quality continues to improve, with the ratio of non-performing assets to total loans at 1.73% at the end of the second quarter, compared to 2.42% a year earlier.
Meanwhile, the bank continues to see loan and deposit growth. Loans were up to $2.1 billion in the second quarter vs. $1.8 billion in the year-ago period. Deposits grew in Florida to $1.4 billion, vs. $1.1 billion in the year-ago period, while in Alabama, deposits grew to $926 million, vs. $792 million in the year-ago period.
USAmeriBank’s growth is driven by the bank’s competency in lending to businesses, combined with its expanding retail presence. In Florida, the bank’ s four new est branches – in Belleair , Ybor City, Westshore and 49th Street in Clearwater – have totaled more than $179 million in new deposits over the past two years.
“As the economy improves, there is heightened competition in the banking arena,” said Joseph V. Chillura, CEO of USAmeriBancorp. “That said, we continue to succeed by doing what we do best – emphasizing relationships and personal service. We are a bank built around people – our customers, employees, shareholders and the people in our communities.”
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.