Gainesville’s Peach State Bank & Trust, 325 Washington St., reported growing assets in its earnings report for the second quarter of 2009.

In the period ending June 30, the bank reported net income of $105,431, and earnings for the first six months of the year of $224,182.

Peach State’s total assets of $171.5 million in the quarter represent an 18.7 percent increase in total assets of $144.5 million at June 30, 2008.

Its total loans increased $24.5 million since last year, a rise of 22.4 percent, reaching $134 million on June 30. Total deposits were $149.5 million in the quarter, up $24.5 million or 19.6 percent from the same period in 2008.

"While profits are not where we would like, comparing Peach State Bank & Trust to our peers we still have very strong earnings," Ron Quinn, Peach State Bank president and CEO said in a news release.

Contact: www.peachstatebank.com, 770-532-6500.