Habersham Bancorp in Cornelia, Ga., announced second-quarter earnings of $1.3 million, up nearly 56% from a year earlier. Per-share earnings rose 52%, to 44 cents.
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Through the first six months of the year, net income was up 67%, to $2.6 million.
Habersham, with $466 million of assets, attributed the gains to strong loan growth and improved net interest income as a result of higher interest rates. Despite significantly higher interest expense, it reported net interest income of $5.2 million in the quarter, 28% more than it reported for the second quarter of 2005.
Habersham is the parent company of Habersham Bank, which has 10 branches in six Georgia counties.
