AMP News Finance & Banking

Bear State Financial Inc. surpasses $2 billion in assets

LITTLE ROCK (October 25, 2016) ~ According to a press release from Bear State Financial Inc., BSF has surpassed $2 billion in assets in the third financial quarter.

Bear State Financial, Inc., today reported earnings of $4.7 million and earnings per diluted common share of $0.13 in the third quarter of 2016, compared to earnings of $3.2 million or $0.10 per diluted common share in the third quarter of 2015. Core earnings for the third quarter of 2016 were $4.3 million or $0.11 per diluted common share compared to core earnings of $3.1 million or $0.09 per diluted common share in the third quarter of 2015.

Mark McFatridge, President and CEO of BSF was pleased with the overall growth as they prepare for the end of the fiscal year.

“Bear State crossed the $2 billion mark in total assets and delivered solid financial results in the third quarter. The Bank’s third quarter performance was highlighted by growth of over $30 million in total loans and $12 million in deposits along with record results in the mortgage banking business.”

McFatridge emphasizes that continuing their current trajectory will require staying of the course.

“We remain focused on carrying out our core initiatives which includes diversifying the make-up of our commercial loan portfolio. Thanks to this effort, commercial and industrial (C&I) loans now represent over 20% of our total loans outstanding. C&I relationships help lead the broadening of our revenue streams with increased non-interest income and core deposits. Our other core initiatives include the continued improvement in the efficiency of our operations and maintaining the discipline of our credit culture. Our teammates have done an excellent job remaining focused on delivering the value of the Bear to our customer base.”

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