County Bank Corp Announces 1st Quarter Results for 2019

LAPEER, Mich., April 29, 2019 /PRNewswire/ -- County Bank Corp (OTC Market Place: CBNC) ("the Company"), the holding company for Lakestone Bank & Trust, announced unaudited results for the quarter ended March 31, 2019.

County Bank Corp reported earnings for the quarter ended March 31, 2019 totaled $1,716,000, a return of $.98 per share. This is an 11% increase over earnings of $1,544,000 for the quarter ending March 31, 2018 that yielded a return of $.88 per share. Total shareholders' equity for March 31, 2019 and March 31, 2018 equaled $64,057,000 and $57,371,000, respectively. Book values per share at 2019 and 2018 were $36.67 and $32.84, respectively. Total Assets grew from $614,843,000 to 636,813,000 over the same period. Stock price was $48.70 on March 31, 2019 compared to $42.70 on March 31, 2018, a 14% increase. 

County Bank Corp is the holding company for Lakestone Bank & Trust, a full-service community bank serving Lapeer, Macomb and St. Clair counties. The primary Market Maker is Boenning & Scattergood.

Forward-Looking Statements

This news release contains comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995), which involve significant risks and uncertainties. Actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include: changes in interest rates and interest-rate relationships; changes in the national and local economy; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulations; changes in tax laws; changes in prices, levies, and assessments; our ability to successfully integrate acquisitions into our existing operations, and the availability of new acquisitions, joint ventures and alliance opportunities; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; and other factors. The Company assumes no responsibility to update forward-looking statements. 

(The financial disclosures presented in this release have not been audited.)

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SOURCE County Bank Corp