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Article: First Capital Bank Achieves Profitability After Three Years.
- Article from:
- PR Newswire
- Article date:
- October 11, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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First Capital Bank's President/CEO, Charlie Rivers, announced today that First Capital Bank has become profitable! First Capital opened on September 27, 1999, and is now three years old. In the three months ended September 30, 2002, First Capital Bank made $23,506 compared to a loss of $109,487 in the same quarter of 2001. Rivers said, "loans total $33 million at the end of the third quarter with total assets totaling $38 million." Rivers said, "this good news is due to the hard work of a lot of folks, especially City Executive, Skip Reep, CFO, Jim Nance, and Senior Lender, John McInnis. Even though we are in the profit column for the quarter, First Capital still has ...