News
Ion Bank News
Web Site:
http://www.ionbank.com
- West Side Office
500 West Main St.,
Meriden, CT 06451
- 2708
Tel: (203) 639-8866
Fax: (203) 639-2808
Ion Bank is an independent community-based bank committed to providing a full line of consumer and business products and services.
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Castle Bank & Trust Company reported solid third q ...
November 24, 2002
Castle Bank & Trust Company reported solid third quarter earnings recently. The three year old local bank, headquartered on Hanover Street, enjoyed an 87% increase over the same period a year ago. "We are doing well, even in a very difficult interest rate environment," said President and Chief Executive Lawrence M. McGoldrick. The bank's Equity Enhancement Plan that calls for slow growth of total assets as the bank replaces lower-yielding assets with higher earning ones, helped assets grow from $48,952,177 to $72,209,977. Both loans and total deposits have increased as well. These successful results also mean that federal reviews from the Federal Deposit Insurance Corp. will be less frequent. New banks are normally reviewed once a year while others are reviewed every 18 months.
Member News is provided as a service of the Midstate Chamber of Commerce and is also featured in the monthly "Chamber News" newsletter mailed to members.
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