Porter Bancorp Reports 1st Quarter 2018 Net Income of $1.9 million or $0.31 per Diluted Share
PORTER BANCORP (PBIB)
US:NASDAQ Investor Relations:
pbibank.com
Company Research
Source: Business Wire
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Porter Bancorp, Inc. (NASDAQ: PBIB) (“the Company”), parent company of Limestone Bank (“the Bank”), today reported unaudited results for the first quarter of 2018. The Company reported net income available to common shareholders for the first quarter of 2018 of $1.9 million, or $0.31 per basic and diluted common share, compared to net income available to common shareholders of $1.6 million, or $0.27 per basic and diluted share, for the first quarter of 2017. “We are pleased with the favorable financial results for the first quarter of 2018 which were largely driven by quality loan production, net interest income growth, and expense management,” said John T. Taylor, President and CEO. “We are also pleased with the $14.95 million private placement of common stock completed on March 30, 2018, which will provide capital to support the growth of our banking franchise.”
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