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Aquesta Financial Holdings (AQFH) reported a net income of $1.9 million (35 cents per share) for Q2 2021, a significant rise from $1.4 million (26 cents per share) in Q2 2020. The company's income from continuing operations for the first half of 2021 reached $4.4 million, up 92.4% year-over-year. The Board declared a cash dividend of 14 cents per share, payable on September 30, 2021. Core deposits increased by 20.8% to $597.1 million, while total assets grew to $736.1 million. Additionally, nonperforming assets significantly decreased, marking improved asset quality.
Aquesta Financial Holdings (AQFH) reported a significant increase in net income for Q1 2021, reaching $2.5 million (46 cents per share), up 186.5% from $881 thousand (16 cents per share) in Q1 2020. Total assets grew to $752.3 million, and core deposits surged by 18.5% to $585.8 million. The bank funded 461 PPP loans worth $68.5 million in Q1 2021. Non-interest income also rose by 105.6% to $1.3 million. However, non-interest expenses increased to $3.9 million from $3.4 million in the previous year.
