First State Bank Convenes 112th Annual Meeting

In his annual report to stockholders, First State Bank of Malta President Robert Galt mentioned that 2015 was a challenging year but happily reported the bank had a profitable year with a 3-precent growth in total assets and deposits.

"The First State Bank's equity position increased to $20,200,551 compared to $19,284,497 in 2015," said Galt. "This is the first time the Bank's equity ended the year above $20 million. The challenges we are experiencing in the ag markets have tested First State's liquidity as well. The bank's overall loan growth for 2015 was approximately 26%. Loan growth has pl...