February 15, 1995 in Nation/World

Panhandle Bank Earnings Surge 42%

From Staff And Wire Reports
 

Earnings for the Panhandle State Bank in Sandpoint exploded in 1994. Assets, loans and deposits also surged, and stockholder equity was up 29 percent.

Net income for the year reached $1.4 million, or $5.48 per share, a 43 percent gain over 1993.

Assets grew 11 percent to $66.8 million, loans 15 percent to $42.6 million, and deposits 9 percent to $58.3 million.

President C.L. Bauer noted in a prepared statement that the bank also easily exceeds most measures of performance for financial institutions.

And a Bonners Ferry branch started showing a profit after only four months, he said.


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