Charlotte-based First Trust Bank announced Friday that it earned $1.08 million in the second quarter, up 3 percent from the year before.
Assets increased 10 percent over the year, to $428 million.
Jim Bolt, the president and chief executive, noted that the bank has no exposure to subprime mortgages. “We are very pleased with these results in today's economic environment,” Bolt said. “Our asset quality remains good with no nonperforming loans and no significant past due loans.”
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The bank has five locations in the Charlotte area.