In Brief: Sky Up 19% in 4Q,24% for the Year

Published January 26, 2005, 2:00 a.m. EST

Updated January 25, 2005, 5:26 p.m. EST

1 Min Read

Sky Financial Group Inc. of Bowling Green, Ohio, announced Tuesday that its fourth-quarter net income rose 19%, to $49.3 million.

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Per-share earnings were 46 cents, a penny more than a year earlier.

For the year the $14.9 billion-asset company said earnings rose 24%, $194.4 million, or $1.93 per diluted share, up nearly 12%.

Sky said that its average earning assets rose 21.7% in the quarter. It credited organic growth as well as acquisitions.

Noninterest-bearing deposits, which Sky called its highest priority, ended the year up 29.5%.

Sky acquired the $2.1 billion-asset Second Bancorp of Warren, Ohio, in July and the $211 million-asset Prospect Bancshares Inc. of Worthington, Ohio, in November.

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