POWHATAN, Va. - Central Virginia Bankshares earned $363,893 in the third quarter, up 36% from a year ago, marking its 80th consecutive profitable quarter.
The company earned $1 million for the first nine months, up 47% from the same time last year.
The earnings gain resulted from rising loan income, reduced deposit interest expense, and the effects of a $4.3 million capital infusion from an earlier stock sale, according to R. Larry Lyons, president.