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Net income before tax was $750,612 compared with net income before tax of $2,703,226 in the prior corresponding period. However, due to a $244,000 higher provision for loan losses associated with a loan growth and $232,000 higher overhead expenses due to the hiring of additional employees, the net income before tax decreased by $27,000. Consolidated net income before tax and non controlling interest of $120,400; |
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