Monday, November 5, 2012

First Trust Bank profit falls

Charlotte-based First Trust Bank reported net income of $929,000 in the third quarter, 35 percent less than the $1.42 million profit it posted in the same time period last year.

But the bank's percentage of bad loans continued to fall, hitting 5.6 percent of total assets from 8.7 percent at the end of last year.

High Point-based BNC Bancorp announced in June that it would acquire First Trust Bank in a cash and stock deal. It is scheduled to close in the fourth quarter.