|
|
Article: Alliance Financial Announces Quarterly Earnings.
- Article from:
- PR Newswire
- Article date:
- October 14, 2009
CopyrightCOPYRIGHT 2009 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)
|
SYRACUSE, N.Y., Oct. 14 /PRNewswire-FirstCall/ -- Alliance Financial Corporation ("Alliance", or the "Company") , the holding company for Alliance Bank, N.A., announced today its net income for the quarter ended September 30, 2009 was $3.0 million or $0.64 per diluted common share, compared with $3.0 million or $0.65 per diluted common share in the year-ago quarter. Net income increased $922,000 or 45.3% compared with the second quarter of 2009 due primarily to a $608,000 increase in net interest income and a $675,000 decrease in the provision for credit losses as a result of a $670,000 decrease in net charge-offs in the third quarter.
Net income was $8.0 ...