LYONS — Lyons Bancorp Inc., the financial holding company for Lyons National Bank, reported net after-tax income for the first six months of 2019 was $5.1 million, an increase of 16 percent over the same period in 2018.
On a per share basis, earnings were $1.54 fully diluted versus $1.33 last year. On a year-over-year basis, assets increased approximately $85 million. At June 30, the Bank had total assets of $1.139 billion. The Bank’s return on average assets increased to 0.93 percent from 0.86 percent last year; and its return on average shareholder equity increased to 12.54 percent from 12.03 percent. The Bank’s efficiency ratio improved to 69.6 percent from 70.0 percent. Compared to the first quarter of 2019, earnings in the second quarter grew 5 percent.
“Our earnings and growth momentum continued in the first half of this year fostered once again by the efforts of our remarkable employees,” said Robert A. Schick, chairman and chief executive officer. “Our staff’s commitment to our customer-centric culture enables us to continue to improve profitability and grow the size of the Bank as we operate in a very competitive environment.”
LNB is a community bank with offices in Wayne, Onondaga, Ontario, Yates, Seneca, Monroe and Cayuga counties. It has one subsidiary, Lyons Realty Associates Corp.