Gold Coast Bank reports 20 percent boost in profit
Gold Coast Bank reported a 20 percent rise in third-quarter profit as it continues to grow its interest income, deposits and lending. Credit: Kevin P. Coughlin
Gold Coast Bank reported a 20 percent rise in third-quarter profit as it continues to grow its interest income, deposits and lending.
The Islandia-based six-branch bank said its net income was $319,000, or 11 cents per share, during the three months that ended in September, up from $266,000 one year earlier. Net interest income, the difference between the revenue generated from a bank's assets and the expenses associated with liabilities, grew 20 percent, to $438,000.
Gold Coast, founded in 2008, said deposits totaled $312 million, up 29 percent from a year ago. Total assets were $343 million, up 24 percent. Outstanding loans totaled $259 million, up 32 percent.
'If you don't address demand, you don't address the problem' Police are only addressing the supply, but demand is what fuels the illicit sex trade, experts say. Newsday political reporter Bahar Ostadan has the story.
'If you don't address demand, you don't address the problem' Police are only addressing the supply, but demand is what fuels the illicit sex trade, experts say. Newsday political reporter Bahar Ostadan has the story.
