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BROOKFIELD – This week Ridgestone Financial Services reported
increased earnings during its third quarter, which totaled $1.4
million.
According to a company announcement, the earnings were only
$579,000 for the third quarter in 2012. Overall, the company is
seeing positive fiscal numbers. Its net income for the first
nine months of 2013 was $5.6 million, compared to$798,000 for
the same time period last year, according to Ridgestone
Financial Services. The Brookfield-based company credits the
improvements mostly to continued growth in governments
guaranteed lending, net interest margin improvement and
reduction of expenses related to loan collection efforts.
“We continue to focus on the origination of government
guaranteed loans for new and existing customers,” said Bruce
Lammers, president and CEO of Ridgestone Bank. “This has
resulted in the origination of $203.7 million of new government
guaranteed loans during the first nine months of 2013.
Additionally, strong demand continues in the secondary market
and premiums are holding up in the market.”
Founded in 1995, Ridgestone Bank is a privately-held bank with
locations in Brookfield and Schaumburg, Ill. |
