Central National Corp, of Richmond, the parent of Central National Bank of Virginia, reported its net income increased 10.9 per cent to $4.4 million for the year. Earnings per share increased from $2.25 to $2.50.
Central National said it set new highs in assets - $516 million - deposits - $438 million - and loans - $277 million.
For the fourth quarter, the bank holding company reported net income increased 10 per cent to $1.1 million or 63 cents per share. Completion of a program of selling some investment securities at a loss so the funds could be reinvested at higher rates reduced earnings per share by 4 cents, but will result in higher future yields, the company said.
Wapora Inc., the Washington pollution control research and consulting company, reported its net income for the six months ended Dec. 31 increased from $47,000 to $61,000, while total revenues gained from $1.9 million to $2 million.
Earnings per share grew from 8 cents to 10 cents. President J.I. Bregman attributed the gains to expansion of Wapora's environmental impact business.
Government Employees Financial Corp. reported lower earnings for the year just ended, but declared a regular cash dividend of 15 cents a share.
Gefco's net income for the year declined to $3.3 million ($2.31 a share) from $3.7 million ($2.76). On a fully diluted basis, per share income was $1.85 this year against $2.11 last year.
For the fourth quarter Gefco's profits its fell to $680,000 (38 cents) from $911,000 (52 cents) last year.