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Bank of the Finger Lakes posts income surge in Q4

Rochester Business Journal
January 14, 2014

USNY Bank, parent of the Bank of the Finger Lakes in Geneva, Ontario County, reported a 45 percent jump in net income for its most-recent quarter.

The bank reported income of $665,958 for the fourth quarter of 2013, up from $457,822 in the fourth quarter of 2012.

Net income for 2013 was $2.35 million, an increase of 20.6 percent from $1.95 million in 2012.

Total assets increased by 23 percent to nearly $179.9 million on Dec. 31 from $145.9 at the end of 2012.

“Our asset growth has helped generate strong operating results, which puts us among the top performing community banks in the country,” President and CEO Michael Briggs said in a statement.

Based in Geneva, USNY Bank also is the parent of the Bank of Cooperstown. A second Bank of Cooperstown branch is scheduled to open in Oneonta this summer.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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