Following a strong 2018, AB&T ended the first quarter of 2019 showing positive performance in several key areas of the bank.

Net Income for the quarter was up 42.8% compared to the first quarter of last year and Net Revenue was up 10.9%, thanks in large part to a 15.3% increase in Net Interest Income for the quarter compared to 1Q18.

The first quarter of 2019 also saw continued improvement on AB&T’s balance sheet, with the bank realizing Average Loan growth of 12.4% compared to 1Q18 and an increase in Average Deposits of 4.1% for the same period. The bank’s Average Non-Interest Bearing Demand Deposits also grew by 10.7% in the first quarter compared with 1Q18 and Average Assets were up 8.3% from the first quarter of last year.

The bank’s asset quality once again remained strong in 1Q19, with Non-Performing Assets as a Percent of Total Assets at only 0.02% and the bank’s Allowance for Loan Losses as a Percent of Total Loans at 1.18%

Thanks to that solid performance, Average Stockholders’ Equity was up 9.9% for the quarter compared to 1Q18. Additionally, Diluted Earnings per Share was $0.31 for the quarter, up from $0.21 in 1Q18, and the Fully Diluted Book Value per Share was $12.26.

Through the first quarter of 2019, AB&T’s solid performance has once again illustrated that our high operational standards and practices, combined with the drive and expertise of the most skilled and dedicated bankers in the market, continue to yield impressive results in the key metrics that drive profitability. As we progress through this year, we expect to see continued success, further validating that the exceptional products and services AB&T provides its present and future clients truly represent the Gold Standard of community banking.