Lifestore Financial Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
January 28, 2024
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Lifestore Financial Group, Inc. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported net interest income was USD 3.23 million compared to USD 3.69 million a year ago. Net income was USD 1.27 million compared to USD 1.56 million a year ago. Basic earnings per share from continuing operations was USD 1.23 compared to USD 1.51 a year ago.
For the six months, net interest income was USD 6.55 million compared to USD 7.29 million a year ago. Net income was USD 2.67 million compared to USD 3.14 million a year ago. Basic earnings per share from continuing operations was USD 2.59 compared to USD 3.04 a year ago.
LifeStore Financial Group, Inc. is a chartered bank holding company, which owns 100% of the common stock of LifeStore Bank (the Bank), LifeStore Insurance Services, Inc. and Ashe Lane Capital Trust. The Bank is a commercial bank, which offers full-service banking services designed to meet the needs of retail and commercial customers. The Bank is an independent insurance agency offering traditional property and casualty, life and health insurance products. The Company has two segments: banking and insurance. The Bankâs personal and business banking services include checking, savings, mobile banking, mobile wallet, mortgages, personal loans and lines of credit, credit card processing, cash management services, non-personal certificates of deposit (CDs), reSubmitit check recovery, commercial loans, and agriculture loans. LifeStore Insurance Services, Inc. is an independent insurance agency with a network of seven offices throughout northwestern North Carolina.