August 30, 2008
Suffolk Bancorp reports profits up
Suffolk Bancorp, the Riverhead-based holding company for Suffolk County National Bank, said Tuesday profits rose 7.2 percent in the second quarter, compared with the same period last year.
The company said it earned $5.7 million in the latest quarter. On a per-share basis, Suffolk Bancorp earned 60 cents, up from 54 cents in the second quarter of last year.
Suffolk Bancorp said it has benefited from its membership in the VISA organization. VISA's initial public offering was made in March and Suffolk Bancorp made money through that.
The company has 29 branches in Suffolk.
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