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Greer State Bank reports 8th straight quarterly profit

Published on Monday, November 18, 2013

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Greer State Bank reports 8th straight quarterly profit
Greer Bancshares Inc., parent company of Greer State Bank, reported third quarter net income attributable to common shareholders of $668,000 or 27 cents per diluted share, compared with $777,000 or 31 cents per diluted common share, during the same quarter the previous year.

As of Sept. 30 the bank reported (at Dec. 31, last year):

• assets were $365 million, up from $361 million;

• loans outstanding were $188 million, down from $196 million;

• deposits were $265 million, up from $261 million;

• non-accrual loans were $3.3 million, down from $3.9 million;

• past-due loans were $2.4 million, down from $2.9 million.

“The positive momentum continues at Greer State Bank as we recognize our eighth consecutive quarter of profitable performance,” bank President and CEO George Burdette said in a news release.

Greer State Bank has three branches in Greer and one in Taylors.

Businesses mentioned in this article.

Greer State Bank

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