TRI-STATE 1ST BANC INC.
16926 St. Clair Ave., P. O. Box 796
East Liverpool, OH 43920
February 2, 2012
1st Banc Reports Record Earnings for 2011
East Liverpool, OH. – Tri-State 1st Banc Inc. reported earnings for the 4th Quarter 2011 and record earnings for 2011. The company reported consolidated net earnings of $236,585 for the fourth quarter and total earnings for 2011 of $781,538. The $781,538 compared to $759,297 in 2010.
Net income for the year increased $22,441 or 3.0% over the earnings of the previous year. The company was able to improve upon the income in the previous year despite a weak market for loans that saw the balances slightly decrease during the year. The reduced income from loans was primarily offset by reductions in interest and noninterest expenses, including a reduction in loan credit expenses due to improving loan quality at the bank. In addition, Tri-State benefitted from the improved earnings of the nonbank subsidiaries.
Company Total Assets as of December 31, 2011 were $132.8, compared with December 2010 when Total Assets were $124.2 million. This represents an increase in Total Assets of $8.6 million or 7% since year-end 2010. Shareholder’s Equity was $12.9 million on December 31, 2011, an increase of 10.2% over year end 2010.
Charles B. Lang Chairman/CEO of Tri-State 1st Banc stated “All four subsidiaries had record years in 2011. This is a great way to conclude our first twenty-five years and begin the next quarter century. Our 25 years of achievements came during times of many challenges, uncertainties and heightened government oversight”.
Mr. Lang went on to say “all the subsidiaries are looking forward to improving on last year’s performance in 2012. I am really excited about developments that have the potential to set a new direction for our valley in the future”.
The Annual Shareholders meeting on will be held on May 16th, 2012 at the East Liverpool Motor Lodge. The meeting is being held later this year in order to celebrate the 25th anniversary of the bank opening which occurred in June 1987.
Tri-State 1st Banc Inc (NASDAQ.BB symbol “TSOH.OB”) is an Ohio Financial Holding Company and is parent company to four subsidiary companies. They are 1st National Community Bank under President Stephen R. Sant, Dr. Marc D. Hoffrichter founded MDH Investment Management Company in 1983 and still serves as its President, Gateminder Corporation was chartered in 1999 and Lance Lang is President, and the Cooper Insurance Agency joined the company in 2010 with Stephen W. Cooper who remains as its President.
Founder Charles B. Lang is Chairman/CEO and Stephen R. Sant serves as President of the parent company, Tri-State 1st Banc Inc.
Stephen A. Beadnell, CFO
Tri-State 1st Banc Inc.
16926 St. Clair Avenue
P. O. Box 796
East Liverpool, OH. 43920
(330) 385-9200 ----- FAX (330) 386-7452