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blueharbor reports net rose 27%

April 20. Mooresville-based blueharbor bank reported net income of $353,906, or $0.12 per diluted share, for the first quarter of 2017, compared to $278,507, or $0.09 per diluted share, for the first quarter of 2016. Jim Marshall, president and CEO, said first-quarter earnings increased thanks to a larger balance sheet in 2017. “The primary driver of our increased earnings was our strong loan growth of $25.7 million (20%) from March 31, 2016, to March 31, 2017. Deposits increased $15.2 million (11%) over the same period,” he said.

“Our fundamentals continue to be strong across the board with a very solid first quarter under our belt that can now propel us toward another strong year in many regards,” he said. The bank, with $179.0 million in assets, has branches in Huntersville and Statesville and a loan production office in Charlotte.

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