(St. George, UT) - Town & Country Bank announced record quarterly net income of $167,000 for the first three months of 2012 Tuesday. The gain in earnings compares with a loss of $5,000 a year ago, when the bank concluded its start-up phase expensing. Year-over-year assets grew by 14% to $71.4 million. Net loans increased by 12% to $53.4 million, while deposits climbed by 15% to $62.8 million.

Town & Country was named as a finalist for the Western Independent Banker’s “Innovative Community Bank of the Year” award in April. “We believe our unique approach to customer service has helped propel growth,” said Brad Hales, Executive Vice President & Chief Financial Officer. “While technology has certainly added new dimensions to banking, our throwback to old fashioned, relationship banking has resonated with customers.” As to first quarter earnings, Hales said the bank has already realized more than half of 2011’s entire net income.

Town & Country Bank has pioneered several innovative customer service concepts, including its “concierge” private banking style approach for all customers and its free business courier service. The bank also offers its proprietary “Town Card”, a debit/ATM card offering time-of-purchase discounts at hundreds of local restaurants and businesses.

The FREE Friday Noon concert series continues at Town & Country Bank, 405 East St. George Boulevard.

April Concert Schedule