How profitable a bank is affects its safety and soundness. Earnings may be retained by the bank, giving a boost to its capital cushion, or be used to address problematic loans, potentially making the bank more resilient in tough times. However, banks that are losing money have less ability to do those things.
On Bankrate's test of earnings, ProGrowth Bank scored 12 out of a possible 30, coming in below the national average of 15.12.
One key measure of a bank's earnings is return on equity, or net income (profit, essentially) divided by the total amount of equity. ProGrowth Bank's most recent annualized quarterly return on equity was 5.47 percent, below the national average of 8.10 percent.
For the twelve months ended December 31, 2017, the bank earned net income of $625,000 on total equity of $11.6 million. The bank reported an annualized return on average assets, or ROA, of 0.47 percent, below the 1 percent deemed satisfactory in accordance with industry standards and below the average for U.S. banks of 1.00 percent.