The bank's profit surged to $862 million, or 45 cents per share, including a gain of 5 cents per share linked to preferred dividends. A year earlier it earned $221 million, or 12 cents per share. Revenue rose almost 9 percent to $4.52 billion on strong growth in interest income and fee revenue.
ASSOCIATED PRESSGreen Bankshares makes profit, credit quality improves
Green Bankshares, the parent company of GreenBank, made a profit of $1.56 million during the second quarter, or 12 cents per share, compared to a loss of $151.4 million during the same quarter a year ago, as credit quality improved, the Greeneville-based bank reported Wednesday. Deposits fell during the quarter by 2 percent to $1.99 billion and loans fell more than 5 percent from the end of last year to $1.9 billion as the bank reduced its portfolio of residential development and construction loans.
Mortgage Rates at Lowest Level of the YearFirst Horizon ends 2 years of decline