BRIEF: HomeTown Bankshares Corp. CEO says 3rd quarter was strong [The Roanoke Times, Va.]
(Roanoke Times (Roanoke, VA) Via Acquire Media NewsEdge) Oct. 26--HomeTown Bankshares Corp., the parent company of HomeTown Bank, on Friday reported net income of $772,000 for the third quarter ended Sept. 30.
Susan Still, president and CEO, called the results strong. The Roanoke-based company reported a 32 percent rise in net income compared to a year ago.
After accounting for dividends payable to preferred shareholders, $298,000 was available to common shareholders, a news release said.
Still said bankers made headway reducing outstanding loans not being repaid as agreed.
As previously reported, HomeTown raised $14 million in new capital during the quarter, of which $10.4 million was used to redeem preferred stock sold under the Troubled Asset Relief Program.
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