Fentura Financial, Inc. Announces Third Quarter 2019 Earnings
FENTON, Mich., Oct. 24, 2019 (GLOBE NEWSWIRE) — Fentura Financial, Inc. (OTCQX: FETM) announces continued strong earnings with net income of $3,415 and $9,026 for the three and nine month periods ended September 30, 2019, respectively.
13.50% increase in gross loans since September 30, 2018
4.50% increase in total deposits since September 30, 2018
Year to date yield on interest earning assets increased to 4.81% from 4.58% at September 30, 2018
18.88% increase in tangible book value per share since September 30, 2018Ronald L. Justice, President and CEO said, “Our strong earnings are built off of our continued growth in net interest income. Even when adjusting for nonrecurring items, net interest income continues to grow quarter after quarter. Our team works diligently to put our customers in the most beneficial financial situation possible. I am extremely proud of the work they do both for Fentura, and, more importantly, the communities that we serve.”Following is a discussion of the Corporation’s financial performance as of, and for the quarter ended, September 30, 2019. At the end of this document is a list of abbreviations and acronyms.Results of Operations
The following table outlines the Corporation’s QTD results of operations and provides certain performance measures as of, and for the three month periods ended:
The following table outlines the Corporation’s YTD results of operations and provides certain performance measures as of, and for the nine month periods ended: