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BRADENTON — Community Bank issued $84 million in new loans and capital commitments in 2010, according to chairman and CEO William Sedgeman. Furthermore, the fourth quarter of 2010 was the bank's third consecutive profitable quarter, with a net income of $306,000 earned.
Combined, Community Bank earned $901,000 in profits in the last three quarters of 2010, records show.
The bank said it added “hundreds” of new customers in 2010, and that a sixth branch location is planned for Beach Drive in St. Petersburg in the spring.
Community Bank was founded in 1995, and is today manages more than $250 million in assets.
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