First Citrus Bank hits record-breaking earnings in second quarter
July 19, 2021 - Tampa-based First Citrus Bancorporation Inc. (OTC Markets: FCIT), the parent bank holding company for First Citrus Bank, released its second-quarter earnings, which was the highest in the company's history. First Citrus Bank's net earnings were $1.96 million, or %0.95 per share, for the quarter that ended June 30. “Our people are executing well, capitalizing on the core deposit growth and retention opportunity generated from PPP,” President and CEO of First Citrus Bank John Barrett said in the company's announcement on Monday. “Concurrently, we hit the ground running opening our new branch in downtown St. Pete which opened last month. As a result, we’ve turned in another record quarter of earnings and year-to-date operating performance.” The second-quarter earnings included assets, deposits and non-Paycheck Protection Program ("PPP") loans, which also grew to record levels.