AB&T delivered another quarter of solid results. During the third quarter, to foster sustainable, enduring growth, we’re optimizing our earning assets, strategically managing the balance sheet as interest rate uncertainty persists. Community Capital’s 2023 financial results are a testament to our team's diligence and the continued support and trust of our community, clients, and shareholders. 

We’re pleased to present an overview of our financial performance for the quarter ending September 30, 2023. 

Financial Highlights: 

• Net Income increased 25.7% in 3Q23 compared to 3Q22 

• Net Income increased 78.6% through the first three quarters of 2023 compared to 2022 

• Our Efficiency Ratio improved to 51.93% for 3Q23 compared to 65.50% for 3Q22 

• In 3Q23, Net Revenue grew 6.4% compared to 3Q22. For the year, Net Revenue grew 30.5% in 2023 compared to 2022 

• Non-Interest Expense declined 6.8% in 3Q23 compared to 3Q22 

• Average Loans increased 2.2% in 3Q23 from 3Q22 

• Average Deposits declined 2.5% in 3Q23 from 3Q22 

• Average Non-Interest-Bearing Demand Deposits were down 19.7% during that same period. 

• Asset Quality remained strong with a 1.52% Allowance for Losses on Loans and Leases as a Percent of Total Loans, and Non-Performing Assets as a % of Total Assets at 0.00%. 

• Tier 1 Leverage Ratio was 10.83% 

• Diluted Earnings Per Share increased to $0.77 in 3Q23 up from $0.62 in 3Q22 

• Fully Diluted Book Value Per Share stood at $18.46 at quarter-end, an increase of 11.6% from 3Q22 

• Return on Average Assets for 3Q23 was 1.57%, up from 1.25% for 3Q22. For the first three quarters, ROAA was 1.66% 

• Return on Average Common Equity for 3Q23 was 17.06%, up from 14.99% for 3Q22. For the year, ROACE was 18.38% 

Our execution, while navigating the market challenges, centers around delivering integral, customized solutions to our clients, and we’ll continue to strive to honor our pledge to be the gold standard of community banking.