Yankee posted strong financial results for the year ended December 31, 2011. The Association saw net income of $7.036 million for the year. This compares to $6.982 million in 2010. Loan volume increased slightly in 2011 to $340.0 million from $336.4 million in 2010. Overall credit quality improved and the Association’s capital position continues to be strong.
The Board of Directors approved a patronage distribution to members in the amount of $3.664 million, to be paid 100% in cash. This compares to $3.659 million in 2010. Patronage payments for 2011 will be made on or about March 23, 2012. Patronage will be distributed either in the form of a check or direct deposit to member bank accounts.
