NCB, FSB had a strong second quarter with $3.5 million in net income. As a result, the Bank's total risk based capital ratio increased to 13.72% as of June 30, 2010-- a ratio over the 10.0% requirement is considered well capitalized.
As of June 30, 2010 total assets at NCB,FSB were $1.5 billion and total deposits were $1.2 billion.
The continued positive performance sets a good precedent for the second half of 2010. We will continue on this course by managing our balance sheet and focusing our efforts on serving our primary customer segments; housing communities, business cooperatives and socially responsible organizations.
Richard L. Reed
Chief Financial Officer
