blueharbor bank’s third-quarter net rises significantly

Published On: November 11, 2014

Nov. 10 blueharbor bank reported net income of $352,675, or $0.14 per diluted share, for the third quarter of 2014, compared to $211,303, or $0.09 per diluted share, for the third quarter of 2013. For the nine-months endedSept. 30, the bank reported net income of $898,268, or $0.36 per diluted share, compared to $711,314, or $0.29 per diluted share, for the nine months ended Sept. 30 of last year.

Jim Marshall, president and CEO, said some factors that have contributed to the improved income are good noninterest income growth in investments, wealth management fees and debit card exchange fees.

“Our provision for loan losses has run lower in 2014 as a result of improved credit quality in our loan portfolio,” he said.

blueharbor bank, with $136.9 million in assets, is headquartered in Mooresville. It has a branch in Huntersville and a loan production office in Gastonia.