Byline: Richard Craver
Jul. 16--LSB Bancshares Inc. said yesterday that a surge in demand for mortgage refinancings and improved loan performance enabled it to post its first net-income gain in three consecutive quarters.
The parent company of Lexington State Bank reported net income for the second quarter of $2.7 million, up $128,000 compared with the second quarter of 2002.
Diluted earnings a share increased by 1 cent to 31 cents.
The earnings improvement wasn't enough to meet the forecast of 32 cents a share by analysts surveyed by First Call/Thomson Financial. The bank has missed analysts' earnings expectations by 1 or 2 cents for four …