AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Charter Bank Reports Record Assets, Strong 2007 Earnings.
Bank's assets top $1.4 billion as earnings near $17 million
ALBUQUERQUE, N.M., Feb. 12 /PRNewswire/ -- Charter Bank announced that its assets reached a record $1.40 billion as of Dec. 31, 2007, as the bank earned nearly $17 million in net income.
While income was down 11.8 percent from record earnings of $19.28 million in 2006, Charter Companies CEO Glen Wertheim said the bank was very satisfied with its 2007 performance.
"Charter is a real estate bank and while 2006 was a boom year, 2007 was a more challenging year in which we saw many of our major competitors lose money and, in some cases, contract their business," Wertheim said. "We were able to not only remain very profitable, but to expand."
Earnings were somewhat impacted by increased expenses related to Charter's expansion, including a new branch in Rio Rancho and an increased marketing budget. Net interest income was up 1 percent, from $31.6 million in 2006, to $31.9 million in 2007.
- Charter Bank Named as Master Servicer for New Mexico Mortgage Finance Authority.
- Press release article from: PR Newswire April 17, 2008 700+ words
...April 17 /PRNewswire/ -- Charter Bank, the state's leading mortgage...billion and branches in Santa Fe, Rio Rancho and Albuquerque. CONTACT: Dan...1-505-332-5502, both of Charter Bank Web site: http://www.charterco...
- Charter Bank Grows Asset Base.
- News wire article from: Mortgage Line March 31, 2008 700+ words
ALBUQUERQUE, NM -- Charter Bank said that it earned nearly $17 million in net income last year...expenses related to Charter's expansion, including a new branch in Rio Rancho, N.M., and an increased marketing budget. Charter's CEO...
- Charter Bank Mortgage Insurance Gives Blood.
- Press release article from: PR Newswire July 22, 2008 700+ words
ALBUQUERQUE, N.M., July 22 /PRNewswire/ -- Charter Bank Mortgage Insurance will host its annual blood drive for...assets of over $1 billion and six branches in Santa Fe, Rio Rancho and Albuquerque and lending offices across New Mexico...
- RIO RANCHO SCORES COUP: $1 BILLION, 1000-JOB INTEL CORP. EXPANSION; SMALL,...
- Press release article from: PR Newswire April 1, 1993 700+ words
RIO RANCHO, N.M., April 1 /PRNewswire...computer chip manufacturing facility near Rio Rancho, N.M., was the most dramatic in...successes. Over the last six years, Rio Rancho -- which began the 1990's as the fastest...
- Rio Rancho Public Schools Consistently Outperforms State With Wright...
- Press release article from: PR Newswire December 20, 2006 700+ words
RIO RANCHO, N.M., Dec. 20 /PRNewswire/ -- Rio Rancho Public Schools has become a model of success in elementary...director for elementary curriculum and instruction in Rio Rancho Public Schools, the scientifically based research that...
- AMREP Announces New Direction for Its Rio Rancho, New Mexico Real Estate...
- Press release article from: Business Wire March 23, 1999 700+ words
...announced that the future direction of its Rio Rancho, New Mexico real estate business will...and local homebuilders and to close its Rio Rancho home construction operation once this...major developer of and homebuilder in Rio Rancho, New Mexico, the incorporated portion...
- Rio Rancho, N.M., Mayor Envisions City Getting Bigger than Albuquerque.
- Newspaper article from: Knight Ridder/Tribune Business News November 4, 2003 700+ words
...Ridder/Tribune Business News Nov. 4--RIO RANCHO, N.M.--Jim Owen oversees the fastest...city in New Mexico. But the mayor of Rio Rancho, City of Vision, bluntly contends...Albuquerque as they do today. "Eventually, Rio Rancho will be the Dallas to Albuquerque's...
- Events Center For Rio Rancho.
- Magazine article from: Rocky Mountain Construction October 23, 2006 700+ words
...basketball and numerous other uses Rio Rancho is called "The City of Vision," as...most of a century as part of America. Rio Rancho, however, does not have such history...history as Native American pueblos. Rio Rancho is a new community, where a mere 40...
