Heritage First Bank reports record earnings From staff reports
Local bank is celebrating 10th anniversary this year
This is a good year for Heritage First Bank.
As they celebrate their 10th anniversary, they are also reporting record earnings during the first half of the year through June 30.
“The bank made $624,000 over the last two quarters through June 30, which is the highest level of net income the bank has ever achieved in the first six months of a fiscal year,” said Greg Wilkes, chief executive officer. “We are on track to have the best earnings year in bank history.”
According to a news release from the bank, earnings are improved over last year primarily as a result of increased loan demand, a strong net interest margin and higher non- interest income from mortgage and Small Business Administra- tion lending, as well as income from the Insurance and Investment subsidiary.
“We have worked hard to clean up credit- related concerns, which have been problematic for all banks in recent months,” Wilkes said. “And this progress has reduced expenses related to the disposition of bank owned properties and provision for loan losses.”
Heritage First added new mobile banking services to its eBanking product line earlier this year, according to the news release. Mobile banking services include account balance check, funds transfer, bill pay, and mobile deposit. Mobile banking apps are available for Apple and Android phones.
The bank has three locations in Rome — 1700 Turner McCall Blvd. in East Rome, 2950 Martha Berry Highway in Armuchee and 2211 Shorter Ave. in West Rome. The bank’s operations center is at 205 E. First Ave.