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2014 net climbs 23% at First Bank

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Net income of First Evanston Bancorp, Inc. climbed 23 percent last year, according to its annual report to stockholders, with gains in assets, loans, and deposits.

The parent company of First Bank & Trust reported net income of $5,246,000, or $3.34 basic income per share for 2014, compared with $4,253,000, or $2.76 a share for 2013.

Loans, net of allowance for loan losses, amounted to $694,051,000 at the end of the year, up 10 percent from the $629,927,000 at the end of 2013.

Deposits gained 7 percent for the year, from $767,574,000 to $824,955,000, including gains in all major deposit categories—demand, negotiable orders of withdrawal and money market accounts, savings, and time deposits.

Total assets increased by 6 percent, from $857,442,000 to $910,974,000.

The increased earnings brought shareholder equity to $74,790,000 from 67,971,000, for a gain of 10 percent.

The bank holding company announced that its annual meeting of stockholders will be held March 17 at 2 p.m. at the bank’s headquarters, 820 Church St.

Charles Bartling

A resident of Evanston since 1975, Chuck Bartling holds a master’s degree in journalism from Northwestern University and has extensive experience as a reporter and editor for daily newspapers, radio stations and business-oriented magazines.

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