Banking & Finance

Founders Bank reports record 3Q net income

October 30, 2012
| By Pete Daly |
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Founders Financial Corp., the holding company for Founders Bank & Trust, reported record 3rd quarter net income of $1.9 million, or $2.12 per share, compared to $1.3 million, or $1.34 per share, in the third quarter last year.

The privately-held bank declared a quarterly cash dividend of 20 cents per common share.

“Founders Bank & Trust’s performance during the third quarter of 2012 is the strongest in our nearly 21-year history,” said Laurie F. Beard, president and CEO.

The bank was founded in Cascade Township and now has four locations in the Grand Rapids area.

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