Nashville Bank & Trust Reports Second Quarter Results

NASHVILLE, Tenn., Aug. 1  /PRNewswire-FirstCall/ -- Nashville Bank & Trust Company (OTC:NVBT) (BULLETIN BOARD: NVBT)  reported results today for the second quarter ending June 30, 2008.

Total assets increased by 11.5 percent to $145 million from June 30, 2007 to June 30, 2008.  Over the same period, total loans increased by 31.0 percent to $112 million, and deposits increased by 12.2 percent to $124 million. At June 30, 2008, the bank's capital exceeded the FDIC guidelines for a "well capitalized" bank with a Tier 1 Capital ratio of 14.8% compared with the "well capitalized" guideline of 6.00%.

Net income for the quarter ending June 30, 2008 was $125,000, after accruing $78,000 for payment of income taxes. In contrast, in the second quarter 2007, the bank posted net income of $337,000 after recording an $87,000 income tax benefit associated with its net operating loss carryforward from prior years.

Year-to-date pre-tax net income for 2008 for the bank was $480,000, an increase of 1.7 percent over the same six month period in 2007.  Net income year-to-date totaled $296,000 in 2008 (after income taxes of $184,000) vs. net income of $559,000 in the first six months of 2007 (after recording an income tax benefit of $87,000).

Non-interest income for the second quarter 2008 was $618,000, a 21 percent increase over the same period 2007. Year-to-date non-interest income was $1,248,000 compared to $951,000 for the first six months of 2007. This 31 percent increase was mainly attributable to continued growth in the bank's wealth management business.

A full-service bank and wealth management company, Nashville Bank & Trust services include personal and business loans, depository accounts, wealth management and trust services.  Personal, expert service is the bank's hallmark.  Customers benefit from direct contact with senior-level, experienced bank executives who have decision-making authority and a full understanding of the local community and the client's relationship with the bank. Nashville Bank and Trust Company stock trades on the OTC Bulletin Board under the symbol, NVBT. 

DATASOURCE: Nashville Bank & Trust Company



CONTACT:  Overton Colton, Nashville Bank & Trust Company,

[phone], 



Web site: http://www.nbandt.com/

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