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