Augusta-based Georgia-Carolina Bancshares, the holding company for First Bank of Georgia, reported higher second-quarter income Wednesday.
Net income for April, May and June was $899,000, or 26 cents per diluted share, compared to the $866,000, or 25 cents per share, earned in the second quarter of 2008.
President Remer Brinson III said the banking company had solid growth in net interest income and non-interest income.
This increase in net income was also achieved in spite of a $642,000 increase in our provision for loan losses and a $279,000 increase in FDIC insurance expense, he said.
Total assets were $488 million at the end of June, up from $460 million at the beginning of the year.
Deposits totaled $399 million, up from $377 million at the start of 2009.