Bank Of Fincastle CEO Encouraged By Small Size Of Quarterly Loss

11/3/17

By Jeff Sturgeon, Roanoke.com

Bank of Fincastle reported a small third quarter loss as it continued to recover from several years of deep financial distress.

The bank lost $96,000 during the July-September quarter, a significant improvement from the $2.2 million it lost during the same period a year ago, according to results issued Tuesday.

CEO and President Scott Steele called the results positive. The bank has broken even for about six months and should make money next year, he said.

“We’re optimistic about returning to profitability for the entire year for 2018,” he said Thursday.

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