NORTON, Va. -- Black Diamond Savings Bank earned $115,128 in the third quarter, up 70% from a year ago and marking the institution's 39th consecutive profitable quarter.

The $88 million-asset bank earned a record $684,154 in the first nine months of the year, up 56% from Sept. 30, 1992.

Don M. Green, president and chief executive, said lower interest expense on deposits, reduced provision for loan losses, and tighter controls on expenses contributed to the improved earnings. The bank's book value has reached $9.17 a share.

Black Diamond operates branches in Virginia towns that include Pennington Gap, Richlands, and Harrisonburg.

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