Six months results as compared to that of last year:
Net interest income inched ahead--$10.409M VS $10.286M.
Non-interest income, still small, was up 20%--$1.861M VS $1.547M.
Pretax, pre-provision operating income increased 19%--$4.592M VS $3.846M.
This is all the more remarkable in light of the 6% reduction of asset and 5% reduction on loans,
As a percentage of asset, PT-PP operating income was 1.42% VS 1.12% the year before, a 26% improvement.
I'd like to see banks getting the PT-PP ROA closer to 2%. Maybe hard for GFED to get there without a healthy non-interest income, but so far, so good.
All the positives don't make up the seemingly ending stream of bad loans that Mr. Burke is responsible for. Let's look for a buyer willing to pay somewhere close to BV. Tired of Burke's empty promises!!!