Following a solid first quarter, AB&T ended the second quarter of 2018 showing positive performance in several key areas. The bank saw Net Revenue growth of 2.7% in 2Q18 compared to the second quarter of last year and 2.3% growth compared to the first two quarters of 2017. That increase, combined with decreased Income Tax Expenses, led to a 15.2% rise in Net Income compared to 2Q17 and a 13.2% increase year to date compared to the first two quarters of 2017.

The second quarter of 2018 also saw continued improvement on the bank’s balance sheet with AB&T realizing a 15.6% rise in Average Assets compared to 2Q17. Average Loans were up 8.2% compared to 2Q17 and Average Deposits increased 17.4%.

Once again, AB&T’s asset quality remains strong with Non-Performing Assets as a Percent of Total Assets at only 0.03% and the bank’s Allowance for Loan Losses as a Percent of Total Loans was at 1.36%.

Despite that solid performance, Average Stockholders’ Equity was down 9.0% compared to 2Q17 and the bank’s Fully Diluted Book Value Per Share was down 8.8% from 2Q17. Each change was driven by the one-time adjustment to the bank’s Deferred Tax Asset following last year’s change in the corporate tax rate and a one-time return of $500,000 in capital from the bank to the holding company in March of this year.

Always striving to improve, the bank’s second quarter performance again illustrates that AB&T’s high operational standards and practices, combined with the hard work of the entire team, continue to yield impressive results in the key metrics that drive profitability. As the year progresses, we expect to see increased success, further validating that the exceptional products and services the bank provides its present and future clients truly are the Gold Standard of community banking.