NB
NB&T Financial Group, the parent of the National Bank and Trust Co. in Wilmington, managed to stay on an even keel for the first quarter, at a time when much bigger banks are feeling the pain of loan losses.
The bank posted first-quarter net income of $1 million, or 32 cents per share, little changed from first-quarter 2007, NB&T said in a news release. Net interest income was $4.5 million, a $72,000 increase year over year, while net interest margin rose to 3.73 percent from 3.55 percent.
"Overall, we are pleased with the results for the quarter," said John Limbert, president and CEO, in a news release. "We would like to see more loan growth, but we are not sacrificing quality for growth, especially when the economy may be in recession."
The first-quarter provision for loan losses was $95,000, compared to $5,000 in the year-ago quarter fastcash. Net charge-offs rose slightly, to $155,000 or 0.18 percent of total loans, compared to $154,000, or 0.15 percent of total loans, in the year-ago quarter. Nonperforming loans fell to $3.3 million versus $9.5 million a year ago.
NB&T, (NASDAQ: NBTF) headquartered in Wilmington, operates 17 banking offices in Clinton, Clermont, Brown, Warren, and Highland counties.