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Traditions Bancorp, Inc. (TRBK) announced a net income of $2.3 million for Q3 2021, down 19% from $2.8 million in Q3 2020, primarily due to decreased mortgage banking activity. For the nine months ended September 30, 2021, net income was $6.6 million, a 7% increase year-over-year. EPS for Q3 2021 was 74 cents, down from 89 cents in Q3 2020, while YTD EPS increased to $2.10 from $1.94. The bank's total assets grew to $720.4 million, and deposits rose by 22% year-over-year.
Traditions Bancorp (OTC Pink: TRBK) announces Dr. Roxanna L. Gapstur as a new member of its Board of Directors effective September 2021. Dr. Gapstur serves as President and CEO of WellSpan Health and brings over 25 years of healthcare leadership experience. Her appointment reflects Traditions Bank's strategic vision for growth. With a strong background in strategic planning and operational excellence, Dr. Gapstur aligns with the bank's key markets. Traditions Bank has grown to over $700 million in assets since its inception in 2002.
Traditions Bancorp (TRBK) reported a net income of $2 million for Q2 2021, a 7% decrease from $2.1 million in Q2 2020. Year-to-date, net income rose to $4.3 million, a 30% increase over the previous year. Earnings per share (EPS) for Q2 were 62 cents, down from 67 cents. Loan growth was modest, with a $15.7 million increase over the prior year. Significant expenses included $308,000 for a new branch and $590,000 for rebranding. The bank's book value per share rose to $21.70, showing solid capital presence despite challenges in loan demand.