FOR IMMEDIATE RELEASE: Contact: Karl Gerhart, President/CEO
October 27, 2000 (610) 488-1251
Bernville, Pennsylvania (AMEX:INB)
Community Independent Bank, Inc.
Announces Third Quarter Earnings
Community Independent Bank, Inc. (Amex:INB), parent of Bernville Bank, announced
third quarter earnings of $5,540 or $.01 per share, compared to net income of
$187,331 or $.27 per share a year ago.
The Company's third quarter net interest income decreased 16 percent to $867,106
compared with $1,032,213 in 1999.
The Company's assets decreased 6 percent to $102.5 million from $108.6 a year
earlier, deposits increased 3% to $88.7 million from $85.9 million, and loans
decreased 5% to $81.4 million from $85.7 million.
Community Independent Bank, Inc. announced a cash dividend of 7 cents per share
payable November 17, 2000 to shareholders of record on October 31, 2000.
Third Quarter 2000 1999
Net Income/(Loss) $5,540 $187,331
Per Share $.01 $.27
Net Interest Income $.9 million $1.0 million
Year to Date 2000 1999
Net Income/(Loss) $47,888 $410,827
Per Share $.07 $.60
Net Interest Income $2.7 million $3.0 million
Assets $102.5 million $108.6 million
