Monday, January 27, 2014

Aquesta Bank profit rises 17 percent

Cornelius-based Aquesta Bank said Monday that it earned $358,000 for shareholders in the fourth quarter, up 17 percent from the same time period a year ago.

For the full year 2013, the bank earned $1.48 million, up 36 percent from the year before. Over the course of the year, the bank also announced its first stock dividend and, seven months later, its first cash dividend to shareholders.

Aquesta Bank grew its loan book and deposit base, and set aside less money for bad loans.

***Sign up for our morning email newsletter -- the Bank Watch Morning Report. Find out more here.***