WEST CHESTER, Pa. Favorable yearend operating results for the mostly online Stonebridge Bank have it predicting that it will turn a modest profit by the end of this quarter.
The bank, which was founded in 1999 and targets consumers in the Delaware Valley, reported Tuesday that its assets rose 257%, to $87.9 million, and its deposits 300%, to $79.3 million, in 2000.
It also had a 716% increase in account sign-ups and a 276% rise in loans, to $69.9 million.
Christopher J. Annas, president and chief executive officer of Stonebridge, cited its high-interest accounts and low fees.
The Stonebridge Financial Corp. subsidiary, which operates a walk-in branch in Chester County, Pa., offers a 4% rate on its checking account, a 5.25% rate on its money market account, and a 5.75% rate on its one-year certificate of deposit.