It opened a new loan production office in Ruston and expects to open a similar office in the New Orleans metro area by third quarter this year. The bank’s provision for loan losses, or potential for default, was $2.2 million compared to $3.4 million as of first quarter and down from $5.4 million during second quarter 2020.
Total assets hit $4.3 billion while total loans were $2.8 billion excluding the paycheck protection loan program. It already sold most of its $243.6 million U.S. Small News Administration paycheck protection program forgivable loan portfolio but still has $25.7 million on the books.
“ News demand was strong, resulting in record loan growth,” said Jude Melville, CEO of News First Bancshares in a news release. News First Bancshares Inc. saw growth from businesses in the Dallas area as it now represents 18% of the bank’s credit exposure.
The News Highlights
- Baton Rouge News Bank Opens Lending Offices in Northern Louisiana, New Orleans Could Be Next | The business
- Check the latest News news updates and information about business, finance and more.
For Latest News Follow us on Google News
- Show all
- Trending News
- Popular By week