Earnings of the parent corporation of Evanston’s First Bank & Trust rose 27 percent in the first nine months of 2014, compared with the same period last year.
“The first nine months of the year have gone exceptionally well for the company,” wrote Robert R. Yohanan, managing director and chief executive officer of the firm, First Evanston Bancorp, Inc., in a letter to stockholders last week.
“We are hopeful that the remaining three months will continue the established trend,” he added.
Net income for the period was $3,908,000, or $2.43 a share, compared with $3,008,000, or $1.96 a share, for the first nine months of 2013.
Loans, deposits, and total assets all climbed during the year.
Loans, net of allowance for losses, reached $670 million on Sept. 30 of this year, compared with $844 million a year earlier, with all of the bank’s branches in Evanston, Itasca, and Naperville exceeding their goals, Yohanan pointed out.
Deposits reached $840 million this year, compared with $766 million a year ago, with increases in all categories—demand deposits, negotiable orders of withdrawal, certificates of deposit, and money market and savings accounts.
Total assets were $924,929,000 at the end of the third quarter of 2014, compared with $843,717,000 on the same date in 2013.
Yohanan noted that assets under management in the bank’s Wealth Management Department reached an historic high of $463 million.
The bank, chartered in 1995, maintained Veribank’s highest green 3-star rating for strength and stability as of June 30, 2014.
“Our general performance against both local and national peers is very favorable,“ Yohanan wrote, “and has provided us with the ability to continue to attract new business and individual relationships.”