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Bill Freehling is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Bill Freehling.

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StellarOne reports improved Q4 earnings

StellarOne Corp., a Charlottesville-based bank company with a large presence in the Fredericksburg region, today reported fourth-quarter net income of 10 cents per common share. The company essentially broke even in the fourth quarter of 2009. For all of 2010, StellarOne made 35 cents per share, compared with a loss of 46 cents per share in 2009.

“We are pleased with the continued improvement in our credit quality and earnings results, and believe our company is positioned well to see continued improvement in 2011,” said O. R. Barham Jr., president and CEO, in a statement.

Barham said loan activity is improving, and the bank is looking to pay back the government’s Troubled Asset Relief Program investment in the company this year.

StellarOne’s stock was up about 4 percent in midday trading.

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Permalink: http://news.fredericksburg.com/businessbrowser/2011/01/26/stellarone-reports-improved-q4-earnings/

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