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Weststar Financial Services Corporation Year-End and Fourth Quarter Earnings Report.

Publication: PR Newswire
Publication Date: 10-JAN-02 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
ASHEVILLE, N.C. -- Weststar Financial Services Corporation and its subsidiary, The Bank of Asheville, report a record year for 2001 and the fourth quarter ended 12/31/01. Assets totaled $80.7 million, which represented a 15% increase over the previous year. Deposits were up 14% at $72.1 million, and loans increased 8% to $65.2 million. Investments at $6.1 million were up 202%. Shareholders' equity increased 30% as a result of a secondary stock offering and net earnings.

Income before taxes for this year totaled $1,035 thousand and represented a 65% increase over the previous year. Net income after tax...

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