Superior Federal Stays on Track
by May 28, 2001 12:00 am 57 views
Little Rock-owned Superior Financial Corp., the holding company for Fort Smith’s Superior Federal Bank, on May 14 reported first-quarter net income of $3.1 million, up 1 percent from $3.065 million during the same period of 2000.
The 2001 first quarter, which for the bank ended March 31, also showed a return on assets of 0.77 percent and a return on equity of 10.99 percent, both down from last year’s first quarter when they totaled 0.78 percent and 11.10 percent, respectively.
The bank’s total assets at March 31 had grown to about $1.669 billion, up $8 million or 5 percent from 2000’s first-quarter total of $1.661 billion.
Superior Financial, a unitary thrift holding company founded in 1997, also saw the bank’s loans decrease by 6 percent or $6 million and its investments decrease $16 million or 4.4 percent to $347 million from Dec. 31, 2000 to March 31. But deposits were up 3.3 percent or $36.1 million to $1.115 billion.