2Q Bear State profit $6.7M, up by half

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM - — David Smith

Bear State Fi­nan­cial, the par­ent of Bear State Bank, had net in­come of $6.7 mil­lion in the sec­ond quar­ter, up al­most 50 per­cent from $4.5 mil­lion in the same pe­riod last year, the Lit­tle Rock bank said Thurs­day.

Bear State had earn­ings per share of 18 cents, up 50 per­cent from 12 cents a share in the sec­ond quar­ter last year.

The bank had as­sets of $2.24 bil­lion on June 30, a gain of 12 per­cent from $1.99 bil­lion a year ear­lier. To­tal loans were $1.7 bil­lion, an in­crease of $176 mil­lion from June 2016. To­tal de­posits were $1.7 bil­lion, a 4 per­cent in­crease from a year ago.

Bear State im­proved its ef­fi­ciency ra­tio to 55 per­cent in the sec­ond quar­ter, com­pared with 72 per­cent a year ear­lier. That means it costs Bear State $55 to earn $100.

The bank has 42 branches in Arkansas, Mis­souri and Ok­la­homa.

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