From: Dart Financial Corporation
From: Michelle Carpenter/VP/Investor Relations
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.