USNY Bank Inc., parent of Bank of the Finger Lakes in Geneva, had net income of $540,559 in the second quarter, up 106 percent from a year ago.
Total assets for Bank of the Finger Lakes and the Bank of Cooperstown, were $128.9 million as of June 30, up 9 percent from $117.8 million on March 31, the holding company reported.
“Our year-to-date operating results are running well ahead of budget and last year’s actual results for the same period,” President and CEO Michael Briggs said in a statement.
“We’re considered well-capitalized by our bank’s regulators and have received a five-star rating from Bauer Financial for our overall financial strength. SNL Financial also ranked us No. 20 in the country earlier this year for our 2011 performance. This recognition is just an indication of the progress we’ve made since the bank opened five years ago.”
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