Albany’s AB&T continues to demonstrate that a foundation of prudent underwriting, a laser-like focus on relationship management, and future-focused operational standards not only provide stability, but also lead to continued success for the bank, it’s clients, community and shareholders. 

Continuing recent trends that have seen AB&T post several consecutive quarters of resilient financial results, the bank closed the second quarter of 2024 on a high note, reporting strong earnings to shareholders while maintaining diligent operational efficiency. 

Among the second quarter highlights, the bank’s performance points to stability in Net Interest Margin (NIM) and a slight upward trend in earnings, quarter over quarter. Net Income, Net Revenue, Average Deposits and Average Assets all increased in 2Q24, compared to the same quarter in 2023, and the bank’s asset quality remained strong. 

AB&T’s Fully Diluted Book Value Per Share stood at $20.26 at quarter end, an increase of 9.8% from 2Q23, and Diluted Earnings Per Share was $0.87 for the quarter. 

While AB&T is proud of its financial performance during the quarter, the bank also continued serving its integral role in the community, continuing its bi-weekly Beyond the Bank podcast highlighting the community’s best and brightest, while also honoring its commitment to community partners such as the Albany Area Chamber of Commerce, Lee County Family Connections, the Boys and Girls Clubs of Albany, Inc. and several others community partners and stakeholders. 

“Our resilient second quarter results demonstrate the ongoing strength and stability of our core community banking approach,” said AB&T CEO Perry Revell. “As we execute, AB&T’s foundation remains the collective strength of our team. We’re honored to share the financial results of their hard work and diligence, but we’re even more humbled to witness their courage, resolve and passion daily for delivering the gold standard promise. It is that shared quest to consistently deliver unmatched service, heart and expertise that will continue to inspire all and drive our future success. Put simply, when we see success, the community sees success. That’s what we’re striving for.”