The Oneonta-based foster-parent of had get income for the three months of $1.6 million, or 15 cents a share. This compares to closing profit of $1.4 million, or 13 cents a share, a year earlier.
Douglas Gulotty, CEO of Wilber (Nasdaq: GIW), said both assets and loans grew in 2008 as a outcome of an distention scheme initiated at the end of 2007. The best part of the 31 percent allowance nurturing was on the commercial side. Gulotty said this stemmed from the bank's fruitful entries into the Albany, N.Y., and Syracuse markets.
For all of 2008, Wilber had profit return of $5.8 million, or 55 cents a share. This was down from gain gain of $7.7 million, or 73 cents a share, a year earlier.
The bank increased its credit forfeiture stock in 2008, from $900,000 to $1.5 million, and increased its computer servicing fees by $672,000 because of a purposefulness to outsource the government of its centre operating system. Furthermore, the 2007 income had included one-time gains totaling $1.17 million. Wilber National has a sprig in Halfmoon.
Its Provantage Home Loans upset has offices in Clifton Park, Latham and Niskayuna.
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