STATE COLLEGE - Kish Bancorp Inc. has announced, during this past quarter, its total assets increased to $574 million from $570 million as of March 31, an increase of $4 million.
Total deposits grew by $14 million to $467 million from $453 million, and loans outstanding decreased 1.8 percent from $372 million as of March 31, 2011, to $366 million in 2012, according to a press release by the corporation.
"Despite continued economic uncertainty and ongoing regulatory headwinds, I am pleased to note that Kish Bancorp achieved solid first quarter results," William P. Hayes, chairman, president and CEO of Kish Bancorp Inc., and its principal subsidiary, Kish Bank, said in the release. "In addition to sustained growth in core earnings and strengthened balance sheet and credit quality metrics, the results contain a number of positive indicators for the balance of 2012."
Net income for the first quarter of 2012 was $843,000, a slight decrease of $15,000, or 1.7 percent from $858,000 during the same period in 2011, according to the release.
Kish Bancorp Inc. is a diversified financial services corporation headquartered in Belleville. Kish Bank, a subsidiary of Kish Bancorp Inc., operates 13 offices in Mifflin, Huntingdon and Centre counties. The stock ticker symbol for Kish Bancorp Inc. is KISB. For more information visit www.kishbank.com.