Team Financial Inc. in Paola, Kan., said third-quarter earnings slipped 23.5% from a year earlier, to $881,000, partly because it sold its Team Insurance Group Inc. at the end of last year.
Diluted earnings per share were down 25%, to 21 cents, the $682 million-asset company said Friday.
Nine-month earnings rose less than 1%, to $2.7 million; per-share earnings for the period rose 1.5%, to 67 cents.
The banking company took a charge of $214,000 in the fourth quarter for a judgment against it in a lawsuit over its 1999 acquisition of the $27 million-asset Fort Calhoun State Bank in Nebraska. Team is appealing the judgment.
Net interest income rose 13.4% for the quarter, to $5.1 million, and 11.4% for the nine months, to $15 million. Noninterest income was down: 2.5% for the quarter, to $2 million, and 5.3% for the nine months, to $5.8 million.
