FORT WAYNE – Independent Alliance Banks Inc. today reported second-quarter earnings of $2.25 million, or $1.64 per common share, an 11 percent increase over the $2.03 million, or $1.47 a share, posted for the same three months of 2011.
Fort Wayne-based IAB is a two-bank holding company for Grabill Bank and MarkleBank.
Mike Marhenke, IAB’s president and CEO, described the company’s performance as “consistently strong.”
“While other financial institutions have shown swings in their performance, which can then reflect considerable increases or decreases from their previous years’ results, IAB has been able to achieve year after year of consistent earnings above our peers,” he said in a written statement.
IAB reported total assets of $948 million as of June 30, a 2 percent decline compared to last year’s second quarter.