High Country Bancorp, Inc. Announces Audited Consolidated and Parent Earnings Results for the Year Ended June 30, 2018
October 01, 2018 at 07:56 pm EDT
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High Country Bancorp, Inc. announced audited consolidated and parent earnings results for the year ended June 30, 2018. For the period, on consolidated basis, the company reported total interest income of $12,580,000 compared to $11,253,000 a year ago. Net interest income was $12,127,000 compared to $10,780,000 a year ago. Net income before income taxes was $4,509,000 compared to $4,464,000 a year ago. Net income was $2,661,000 compared to $2,974,000 a year ago. Basic and diluted earnings per share were $2.89 compared to $3.30 a year ago. Net cash provided by operating activities was $3,840,000 compared to $4,640,000 a year ago. Purchases of property and equipment were $550,000 compared to $302,000 a year ago.
For the period, on parent basis, the company reported net income of $2,661,000 compared to $2,974,000 a year ago. Net cash used in operating activities of $51,000 compared to net cash provided by operating activities of $62,000 a year ago.
High Country Bancorp, Inc. is a bank holding company. The Company has two wholly owned subsidiaries, High Country Bank (the Bank) and B.Ass. Co., Inc. (B.Ass). The Bank is a chartered commercial bank, which provides a variety of financial services for the area it serves. The Bankâs primary deposit products are noninterest-bearing and interest-bearing checking accounts, savings accounts, and time deposit accounts. The Bankâs primary lending products are real estate mortgage, construction, consumer and commercial loans. Deposit accounts of the Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to certain limitations. The Bank's loan portfolio segments are real estate loans, commercial loans, and consumer and other loans. The Bank pays a premium to the FDIC for the insurance of such deposit accounts. The Bank conducts business through its main office in Salida, Colorado and branch offices in Salida, Buena Vista, Canon City and Longmont, Colorado.