|
|
|
Geneva —
Lyons Bancorp Inc. reported earnings of $5.1 million for 2011, an increase of 23 percent over last year.
The increase in net income from 2010 to 2011 was due primarily to increases in net interest income and noninterest income and a reduction in provision for loan losses. Noninterest expenses increased 8 percent, thanks to the opening of the company's newest branch office in Seneca County, which opened in June 2010.
"Our 2011 record earnings of $5.1 million represent the 17th consecutive time we have reported higher year-over-year dollar earnings," said Lyons Bancorp President and CEO Robert A. Schick. "This is an outstanding feat in its own right, but to accomplish it given the economic and industry malaise of the past few years makes it even more noteworthy and a testimony to our hometown banking focus."
Lyons Bancorp Inc. is the holding company for the Lyons National Bank. The Lyons National Bank is a community bank with offices in Lyons, Clyde, Macedon, Newark, Ontario and Wolcott in Wayne County; Jordan in Onondaga County; Geneva in Ontario County; Penn Yan in Yates County; and Waterloo in Seneca County.
The increase in net income from 2010 to 2011 was due primarily to increases in net interest income and noninterest income and a reduction in provision for loan losses. Noninterest expenses increased 8 percent, thanks to the opening of the company's newest branch office in Seneca County, which opened in June 2010.
"Our 2011 record earnings of $5.1 million represent the 17th consecutive time we have reported higher year-over-year dollar earnings," said Lyons Bancorp President and CEO Robert A. Schick. "This is an outstanding feat in its own right, but to accomplish it given the economic and industry malaise of the past few years makes it even more noteworthy and a testimony to our hometown banking focus."
Lyons Bancorp Inc. is the holding company for the Lyons National Bank. The Lyons National Bank is a community bank with offices in Lyons, Clyde, Macedon, Newark, Ontario and Wolcott in Wayne County; Jordan in Onondaga County; Geneva in Ontario County; Penn Yan in Yates County; and Waterloo in Seneca County.
Lyons Bancorp Inc. reported earnings of $5.1 million for 2011, an increase of 23 percent over last year.
The increase in net income from 2010 to 2011 was due primarily to increases in net interest income and noninterest income and a reduction in provision for loan losses. Noninterest expenses increased 8 percent, thanks to the opening of the company's newest branch office in Seneca County, which opened in June 2010.
"Our 2011 record earnings of $5.1 million represent the 17th consecutive time we have reported higher year-over-year dollar earnings," said Lyons Bancorp President and CEO Robert A. Schick. "This is an outstanding feat in its own right, but to accomplish it given the economic and industry malaise of the past few years makes it even more noteworthy and a testimony to our hometown banking focus."
Lyons Bancorp Inc. is the holding company for the Lyons National Bank. The Lyons National Bank is a community bank with offices in Lyons, Clyde, Macedon, Newark, Ontario and Wolcott in Wayne County; Jordan in Onondaga County; Geneva in Ontario County; Penn Yan in Yates County; and Waterloo in Seneca County.
The increase in net income from 2010 to 2011 was due primarily to increases in net interest income and noninterest income and a reduction in provision for loan losses. Noninterest expenses increased 8 percent, thanks to the opening of the company's newest branch office in Seneca County, which opened in June 2010.
"Our 2011 record earnings of $5.1 million represent the 17th consecutive time we have reported higher year-over-year dollar earnings," said Lyons Bancorp President and CEO Robert A. Schick. "This is an outstanding feat in its own right, but to accomplish it given the economic and industry malaise of the past few years makes it even more noteworthy and a testimony to our hometown banking focus."
Lyons Bancorp Inc. is the holding company for the Lyons National Bank. The Lyons National Bank is a community bank with offices in Lyons, Clyde, Macedon, Newark, Ontario and Wolcott in Wayne County; Jordan in Onondaga County; Geneva in Ontario County; Penn Yan in Yates County; and Waterloo in Seneca County.
