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Show Summit Savings notes record profits for first half of '83 Dean S. Berrett, chairman and chief executive officer of Summit Savings and Loan Association, reported that for., the six months ending June 30, total revenues climbed climb-ed to a record $1,798,708, more than ten times the figures for the same time period in 1982. Net income from consolidated con-solidated operations of $619,057 represented an earnings earn-ings per share of $6.06. For the same time period in 1382, the association reported a net loss of $18,886. Assets of the association increased to $36.0 million compared to $1.6 million for the same time period in 1982. Stockholders' equity was up 208 percent to $1.1 million from the previous year's totals of $359,431. The association's net loan portfolio is currently $29.2 million. For the six months ended June 30, 1983, the association's loan volume was a record $6.3 million. This compares to total loan volume for all of 1982 of $4.4 million. Berrett also reported that the association received approval ap-proval for a Salt Lake City branch office in May of this year. The Salt Lake office, to be located in the historic Kearns Building, 140 South Main, is expected to be opened by November of this year. Berrett said the Park City office will continue as the association's head office. |