February 16, 2012
Congaree State Bank reports first full year profit
Cayce, South Carolina (February 16, 2012) - Congaree Bancshares, Inc., the holding company for Congaree State Bank, reports first full year profit for 2011.
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The Cayce/West Columbia based company, which celebrated its fifth anniversary October 16, 2011, posted a $532,868 net profit for the year ended December 31, 2011. Congaree Bancshares Inc., the holding company for Congaree State Bank, reported an improvement in basic earnings per share from $(0.29) in 2010 to $0.30 in 2011. Net shareholder equity also improved from $4.44 per share in 2010 to $5.05 per share in 2011.
“We are excited to reach this milestone in our young bank’s history and recognize that the support from our loyal clients and dedicated employees made this possible,” said Charles A. Kirby, president and CEO of Congaree State Bank. “We will continue to build on this success creating a strong, locally-owned community bank.”