Siuslaw Financial, parent company of Siuslaw Bank, today announced its year-end financial results and recognizable community awards.
Year to date after-tax earnings totaled $3,577,200, or $0.87 per diluted common share, compared to $3,342,100, or $0.81 per diluted common share, report a year ago. The company reported that earnings represent an 11.25 percent return on equity (ROE) and 1.33 percent returns on assets (ROA).
Siuslaw Financial reported $299.8 million in total assets and deposits of $255.5 million, compared to $284.1 million and $236.6 million in 2009, an increase of 5.5 percent and 8.0 percent respectively. Net loans decreased by 4.6 percent to $209.1 million.
“The bank continues to approve qualified loan requests and make credit available to its commercial customers,” Bruce Webber, executive vice president and chief credit officer stated in the press release. “The bank disposed of several Other Real Estate properties it had acquired and increased Reserve for Loan Losses by $1,000,000 during the year.”
The company’s board of directors also announced a $0.10 per share quarterly dividend to common shareholders and a $0.1075 per share dividend to preferred shareholders, payable to shareholders of record as of January 31, 2011, and payable on or before February 5, 2011.
The company also noted that Siuslaw Bank was voted a top 10 company on the Portland Business Journal’s list of Oregon’s Most Philanthropic Companies for the fourth year in a row, as well as “Lane County’s Favorite Community Bank.”
For more information visit www.siuslawbank.com