April 26, 2021: Bippus State Corporation, the parent company for The Bippus State Bank, reported first quarter earnings of $2.03 million or $9.66 per common share, an increase of 346% from the $586 thousand, or $2.75 per share, posted for the same three months in 2020.
“Our primary focus in the first quarter has been approving and processing Paycheck Protection Program loans. We have been incredibly fortunate in our ability to assist so many small businesses in our communities with these loans,” said Eric Fawcett, President and CEO.
As of March 31, 2021, the bank has assisted over 500 small businesses in accessing the second round of PPP loans in 2021 totaling $15.2 million.
