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Press Release

From:             Dart Financial Corporation

Prepared:     3.22.2016

From:             Michelle Carpenter/VP/Investor Relations

                        mcarpenter@dartbank.com

                        (517) 525-2693

Subject:  FOR IMMEDIATE RELEASE

 

Dart Income Jumps 48%

 

Dart Financial Corporation; (headquartered in Mason, Michigan) parent company for The Dart Bank announced a 48% increase in earnings for year-end 2015 over the same period for 2014.  The company reported earnings of $3,191,215 or $2.66 per share as compared to $1.79 per share at year-end 2014.  Assets grew to $322,430,709 an increase of $32,216,000 over year-end 2014.  Deposits grew to $254,025,000 increasing from $229,023,000 from year-end 2014. Loans increased to $179,906,934 at year-end 2015 compared to $160,882,508 for the same period in 2014.

 

Peter Kubacki, president and CEO commented … “Dart Financial Corporation has met the economic challenges of the past several years by building a new strategic direction for Dart Bank, a direction that has culminated with an exceptional year in profitability and growth within the communities we serve.”

 

Kubacki further stated that “the increase in profitability was a result of significant growth in non-interest income derived from the full year of operation from our Home Loan Center’s residential mortgage lending activity.”  Dart Bank’s mortgage center accounted for over 60% of the increase in non-interest income reported on the banks income statement for year-end 2015.   Kubacki, stated… “our board is pleased that the Home Loan Center is a leader in mortgage lending in Ingham, Eaton, and Clinton Counties.”

 

Key 2015 Highlights:

  • 48% increase in earnings/$2.66 per share
  • Shareholder dividends totaled $0.915 per share
  • Construction on new headquarters and banking office (Mason)
  • Approval and plans for a new banking office in Lansing
  • New loan production office in Grand Rapids
  • New Corporation logo and tag line ‘For What Matters Most’ 
  • Celebration of our 90th year of operation

 

To learn more about becoming a customer of Dart Financial Corporation/Dart Bank or to become a shareholder in a local community bank contact Investor Relations.

About DFC: Dart Financial Corporation, a bank holding company headquartered in Mason, Michigan is the parent company of Dart Bank. Founded in 1925, a local community bank independently owned and operated in Michigan.  Dart is a full-service bank, offering a complete range of business and personal accounts, credit and  mortgage lending, investment and retirement services with a Bauer Five Star Rating-Superior. Offices located in Mason, Holt/South Lansing, Grand Ledge and future opening of  East Lansing, Loan Production Offices in East Lansing, Chelsea and Grand Rapids.

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