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Latest | Highest ratedA Few Banks We Like: NTRS, USB, WFSL, SCHW, BOH [View article]
1st Enterprise Bank continues to experience strong organic growth in its loans and core deposits during the quarter ended September 30, 2008.
The Bank's net loans at September 30, 2008 were $98 million, an increase of $10 million or 11%, compared to June 30, 2008 and an increase of $42 million or 75%, in comparison to September 30, 2007. The Bank's loan portfolio had zero non-performing loans, zero past due loans and there were no charge offs during the quarter. The Bank continues to maintain a strong liquidity position with 55% of its assets in cash and investments. More than 90% of the bank's bond portfolio consisted of securities issued or guaranteed by government agencies or government sponsored agencies. Total assets were $225 million at the end of the third quarter, up $20 million, or 10%, from the prior quarter and 34% from the third quarter of 2007.