Community Heritage Financial Q3 net income upChristian Fernsby ▼ | October 19, 2019
Community Heritage Financial, the parent company for Middletown Valley Bank and Millennium Financial Group, announced that, for the quarter ended September 30, 2019, the company earned net income of $1,000.4 thousand or $0.44 per share compared to net income of $474.2 thousand and earnings per share of $0.21 recorded for the third quarter of 2018.
Community Heritage Financial The company earned net income of $0.44 per share
Topics: Community Heritage Financial
Net income for the first nine months of 2019 was $2.06 million or $0.92 per share compared to $1.7 million or $0.75 per share in 2018.
The increase in net income versus the first nine months of 2018 was primarily due to the addition of Mlend in February 2019, significant increase in net interest income, and growth in noninterest income which more than offset the increase in provision for loan loss, noninterest expense, merger and one-time expense and income taxes. ■