Aquesta: ‘Really starting to hit its stride’

featured_aquestabankJuly 21Aquesta Financial Holdings today reported record operating income for the second quarter of 2015: $590,000 vs. $446,000 during the same quarter last year.

Total assets increased to $269.1 million at June 30, compared to $263.6 million at year-end. Total loans increased to $184.1 million at June 30, vs. $172.2 million at the end of 2014.

“Our strong loan growth has allowed Aquesta to continue to show solid earnings growth both comparing quarter over quarter and year over year figures,” said Jim Engel, CEO.

“This quarter represents a record for Aquesta with our best return on shareholder equity since our formation in 2006. With loan growth that dramatically outpaces peers; we believe Aquesta is really starting to hit its stride,” he said.

Aquesta recently completed the acquisition of a branch in the Southpark area of Charlotte. Engel said the branch acquisition is “just the first step” in the bank’s Charlotte growth plans.

For the six months ended June 30, 2015, net income was $1,091,000 versus net income in the same period of 2014 of $874,000, an increase of 25 percent.

Aquesta has a branch in Davidson, two in Cornelius, a branch in Huntersville and two branches in Mooresville. Aquesta Insurance Services, Inc., an independent agency, has offices in Cornelius, Mooresville, Huntersville and Wilmington.


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