Chattanooga’s biggest independent bank, First Security Group, Inc. , said today it earned $922,000, or 1 cent per share, in the fourth quarter of 2014.
The parent company of FSG Bank earned $2.4 million, or 4 cents per share, for all of 2014. The banking firm said lonas rose 13.8 percent over the past year while deposits grew 18.8 percent.
“The primary goals of 2014 were returning to core profitability, net loan production of $50 million per quarter, and funding the resulting asset growth with pure deposits,” First Security CEO Michael Kramer said. “We achieved each of these goals.”
First Security Group, Inc., founded in 1999, operates 26 bank offices in Tennessee and Georgia. The Chattanooga-based bank holding firm has assets of $1.1 billion.