Centrix reports big income growth
Centrix Bank posted net income of $2,200,000 for 2005, or 75 cents per diluted share — more than 50 percent over the previous year.
Some $717,000 of that income came in the last quarter of the year — 38 percent over the same quarter last year.
The strong year brings the bank’s total assets up to $272 million, 36 percent more than last year. Net loans were up 29 percent and deposits were up 36 percent.
Centrix Bank CEO Joseph B. Reilly credited the bank’s strong growth partly to expanded branch network allowing for increased market penetration. – NHBR STAFF