Lyons Bancorp Reports 16% Increase in Earnings
Canandaigua Clyde Geneva Jordan Lyons Macedon Newark Ontario Penn Yan Seneca County Wolcott Perinton Park Lyons (Main) Auburn (Downtown) Auburn (Grant Ave.), New York
Lyons Bancorp, Inc., the financial holding company for The Lyons National Bank, reported net after-tax income for the first six months of 2019 was $5.1 million, an increase of 16% over the same period in 2018. On a per share basis, earnings were $1.54 fully diluted versus $1.33 last year. On a year-over-year basis, assets increased approximately $85 million. At June 30, 2019, the Bank had total assets of $1.139 billion. The Bank’s return on average assets increased to 0.93% from 0.86% last year; and its return on average shareholder equity increased to 12.54% from 12.03%. The Bank’s efficiency ratio improved to 69.6% from 70.0%. Compared to the first quarter of 2019, earnings in the second quarter grew 5%.
“Our earnings and growth momentum continued in the first half of this year fostered once again by the efforts of our remarkable employees,” said Robert A. Schick, Chairman and Chief Executive Officer. “Our staff’s commitment to our customer-centric culture enables us to continue to improve profitability and grow the size of the Bank as we operate in a very competitive environment.”
Lyons Bancorp, Inc. is the financial holding company for The Lyons National Bank. The Lyons National Bank is a community bank with offices in Lyons, Clyde, Macedon, Newark, Ontario and Wolcott in Wayne County; Jordan in Onondaga County; Geneva and Canandaigua in Ontario County; Penn Yan in Yates County; Waterloo in Seneca County; Perinton in Monroe County; and Auburn in Cayuga County. The Lyons National Bank has one subsidiary, Lyons Realty Associates Corp.