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AB&T Financial Corporation (OTC Pink: ABTO) announced its unaudited Q1 2021 results, revealing a net income of $252,000, or $0.008 per share, up 7.7% from $234,000 in Q1 2020. The increase is credited to growth in net interest income and a declining cost of funds. Total assets rose to $203.3 million, an increase of 10.2%, while loans increased by 4.3% to $150.8 million. Total deposits reached $188.4 million, reflecting an 11.0% growth. The CEO expressed optimism about economic recovery bolstered by positive customer feedback.
AB&T Financial Corporation (OTC Pink: ABTO) reported its fourth quarter and year-end 2020 results. For Q4 2020, net income decreased to $185,000, down from $226,000 in Q4 2019, primarily due to a $50,000 increase in loan loss provisions. Total assets grew 17.3% to $184.6 million, with loans increasing by 36.2% to $144.6 million. Annual net income rose 4.0% to $1,064,000, with basic earnings per share of $0.033. Demand deposits surged by 39.0%. CEO Dan Boyd noted sustained profitability despite COVID-19 challenges.
