Business Services Industry
EARNINGS AND DIVIDENDS.(brief articles)(Statistical Data Included)
Crain's Detroit Business, October, 1999
Dearborn Bancorp, Inc. (Nasdaq: DEAR), the holding company for Community Bank of Dearborn, reported net income of $223,000 or 9 cents a share in the third quarer ended Sept. 30, down from net income of $284,000 or 11 cents a share in the same quarter a year earlier. Net income for the nine months was $260,000 or 11 cents a share, down from $714,000 or 36 cents a share in the first three quarters of 1998.
Total assets as of Sept. 30 were $146.4 million, up 16.3 percent from a year earlier. Deposits were $117.6 million, up 21.3 percent from a year earlier, while total loans were $75.6 million, up 23.5 percent from a year earlier. President Michael Ross said the bank's earnings fell in the quarter because it added staff in anticipation of growth and...
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