Aug 14, 2009

Bank of Luxemburg Announces Earnings

Luxemburg Bancshares, Inc.—parent company of the Bank of Luxemburg—announced earnings for the first six months ending June 30, 2009 of $870,068 compared to $630,104 for the first six months of 2008...a noteworthy increase. According to Mr. Slatky, “The primary reason for the increase in the first six months of 2009 is significant loan refinance activity due to lower interest rates and improvement in the bank’s net interest income.”

Total assets have grown from $204,619,620 (June 30, 2008) to $218,911,323 (June 30, 2009). Mr. Slatky noted, “The increase is most likely due to depositors seeking a safe, secure financial institution in which to invest their funds.”

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