Business

blueharbor bank reports much higher 3Q

 

Oct. 14. Mooresville-based blueharbor bank reported third-quarter net income rose 74 percent to $1,375,837 from $789,152 during the same quarter last year.

For the nine months ended Sept. 30, net income was $3,597,426, compared to $2,305,302 for the same period last year.

Loan growth

MARSHALL

“Our organic loan growth continues to be very strong at a 29 percent annualized pace and our pipeline continues to look solid. Many of our new relationships result from referrals that love our “blueharbor way” of delivering competitive products and services, in a very timely and common sense fashion,” said CEO Jim Marshall.

Assets

The Bank reported total assets of $407.9 million at Sept. 30, an increase of 31 percent from one year ago.

Asset quality remained very strong for the third quarter of 2021, with total non-performing assets representing only 0.19 percent of total assets as of Sept. 30—down from the 0.27 percent reported at Dec. 31, 2020.

For complete third-quarter results, click here.

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