First Trust Bank Q3 net income decreases

First Trust Bank has reported a net income of $929,000, or $0.19 per share, for the third quarter ended September 30, 2012, compared to $1.42 million, or $0.30 per share, for the same quarter ended September 30, 2011.

Net interest income for the third quarter ended September 30, 2012 was $3.39 million, compared to $3.67 million for the same quarter ended September 30, 2011.

Net income for the nine months ended September 30, 2012 was $2.91 million, or $0.61 per share, compared to $1.58 million, or $0.33 per share, for the same period ended September 30, 2011.

Net interest income for the nine months ended September 30, 2012 was $10.51 million, compared to $11.02 million for the same period ended September 30, 2011.

Jim Bolt, president and CEO, said: "We continue to show improvement in asset quality. We look forward to our new partnership with the Bank of North Carolina."