Firstbank Corporation's shareholders have a reason to be happy after seeing the third quarter results recently.
The financial corporation announced a net income of $1,324,000 for the third quarter of 2010, compared to $1,217,000 for the third quarter last year. The net income available to common shareholders of $911,000 was a 13.4 percent increase over the $804,000 in the third quarter of 2009. Earnings per share, the corporation announced, were $0.12 as compared to $0.10 last year.
"Our people continue to perform extraordinarily well and continue to bolster our reputation with our customers and in our communities," says Thomas Sullivan, president and CEO of Firstbank Corp.
And customers should be happy, too. In addition to the positive third quarter results, Firstbank is also spending some money to better serve the communities it operates in.
"We continue to invest selectively in opportunities for growth and market position, as evidenced by a new replacement branch facility opened in DeWitt in the third quarter, a new replacement branch facility under construction in Mt. Pleasant, and a new branch location and facility approved to be constructed in Cadillac," says Sullivan. "Our three-year old branch in Paw Paw continues to be an outstanding performer."
Firstbank Corporation is headquartered in Alma. It has 51 banking offices serving the Lower Peninsula.
Writer: Sam Eggleston
Source: Thomas Sullivan, Firstbank Corporation
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