SPRINGFIELD, Ill., August 5, 2020 (GLOBE NEWSWIRE) – Town and Country Financial Corporation (OTC Pink: TWCF) announced its monetary effects by the time of the 2020 quarter.
Key points include:
Announcing the results, President and CEO Micah R. Bartlett said: “I am incredibly proud of the city and country painters for their harsh paintings and determination in 2020. They have known the health, defense and well-being of our consumers and both. others as their most sensible priority. Our project has never been more timely: “Strengthen the monetary well-being of our communities, one user at a time.” From a monetary perspective, we have been able to help many clients, families and businesses. , friends and neighbors through the paycheck coverage program, our loan systems, our COVID loan systems and many other measures. Our team brings our project to life for both one and two days.
Bartlett continued: “Despite the significant demanding economic situations and interest rates facing the industry, our company can perform very well in the quarter. After setting aside $2 million for the potential credit threat and adjusting the eBook price of $1.25 million loan control rights, the company still made a profit of $1.1 million in the current quarter. Without the higher provision for credit losses, the effects of the current quarter would have been a record for the company. Compared to June 2019, advertising loans, deposits and loan bank income all recorded double-digit growth We are proud and grateful for the monetary strength of our company and the culture our workers have instilled.
Contact:
Doug Cheatham, Executive Vice President and Chief Financial [email protected] (217) 321-3424