Centric Financial Corporation Announces 4th Quarter Results

Posted On On: January 26, 2016 Categories Filed Under: Member News

HARRISBURG (January 22, 2016) – Centric Financial Corporation, the parent company of Centric Bank, reported growth in earnings, assets, loans and deposits for 2015. The company’s earnings for the fourth quarter were $ 530,000, an increase of 45% or $164,000 over the fourth quarter 2014. Year to date income was $1,837,000, an increase of $607,000 or 49% over the year 2014.

Total loans at December 31, 2015, were $315 million, an increase of $60.7 million or 24.0% from the same period 2014. Total deposits increased by $34.9 million, or 13.0%. Total assets at December 31, 2015 were $373 million, an increase of $61.5 million, or 20.0%.

During 2015, Centric Bank led the Central Pennsylvania market in SBA loans by providing capital to business owners totaling $23.3 million as compared to our SBA lending of $7.2 million in 2014; an increase of over 200% in the current year.

About Centric Bank

A two-time Best Places to Work and Top 50 Fastest-Growing Companies for four years, Centric Bank is headquartered in south central Pennsylvania with assets of $373 million and remains the leader in organic loan growth in central Pennsylvania. A locally owned, locally loaned community bank, Centric Bank provides highly competitive and pro-growth core financial services to businesses, professionals, individuals, and families. With a Five-Star Bauer Financial Rating, Centric Bank is also ranked as the #1 SBA Lender in Central PA and a Top 20 Lender for SBA Loans in the Philadelphia Region.

Founded in February 2007, Pennsylvania-based Centric Bank has financial centers located in Harrisburg, Hershey, Mechanicsburg, and Camp Hill, and a loan production team in Suburban Philadelphia. To learn more about Centric Bank, call 717.657.7727 or visit their website at www.CentricBank.com. Connect with them on Twitter at @CentricBank and Facebook at Centric Bank.

Centric is traded over the counter (OTC-Pink) – CFCX.

For more information about Centric Bank, please call 717.657.7727 or visit their website at www.CentricBank.com.