The $623 million-asset WGNB Corp. of Carrollton, Ga., said Monday that its second-quarter earnings rose 13% from the same quarter last year, to $2.3 million, on the strength of double-digit loan and deposit growth.
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However, WGNB also said its ratio of nonperforming assets to loans and other real estate owned more than doubled, to 1.27%.
H.B. "Rocky" Lipham, 3rd, its president and chief executive, said that even though his company expects earnings growth to continue, "with the slowing of the real estate market, we, like all banks, could have potential loan loss exposure."
Last month WGNB bought First Haralson Corp. in Buchanan for $46.3 million.
