How profitable a bank is affects its safety and soundness. A bank can retain its earnings, increasing its capital cushion, or put them to work addressing problematic loans, likely making the bank more resilient in times of trouble. Losses, on the other hand, reduce a bank's ability to do those things.
Citizens Independent Bank underperformed the average on Bankrate's earnings test, achieving a score of 6 out of a possible 30.
One widely used measure of a bank's earnings is return on equity, calculated by dividing net income (profit, basically) by total equity. The most recent annualized quarterly return on equity for Citizens Independent Bank was 2.37 percent, below the national average of 8.10 percent.
For the twelve months ended December 31, 2017, the bank recorded net income of $758,000 on total equity of $31.9 million. The bank reported an annualized return on average assets, or ROA, of 0.26 percent, below the 1 percent deemed satisfactory in accordance with industry standards and below the average for U.S. banks of 1.00 percent.