UNIONDALE, N.Y. -- European American Bank reported net income of $13.4 million for the second quarter, five times the $2.6 million of the year-earlier period.
The figure was 43% above that of the first quarter.
Net interest income increased 18.4% from the 1991 period, to $54.4 million. Other operating income was $15.5 million, up nearly 25%.
Loan-loss provisons fell 25% to %7.5 million. Other operating expenses excluding interest rose 6.8%, to $48.5 million. Assets fell 1.8%, to $4.8 billion.
European American, a unit of ABN Amro of the Netherlands, has earned profits in five consecutive quarters. Earlier, it had suffered heavy losses on foreign loans and commercial real estate loans.