Cortland Bancorp reports earnings

CORTLAND — Cortland Bancorp, parent company of Cortland Bank, announced its first-half financial results included net income of $3.4 million, or 79 cents per share. That’s 4.3 percent more than last year’s $3.3 million, or 75 cents per share.

For the second quarter, net income was $1.3 million, or 30 cents per share, versus $1.8 million, excluding life insurance gain, or 40 cents per share in 2018.

Some second quarter highlights are net interest income climbing 5 percent to $6 million; 5 percent loan growth to $480 million; and deposit growth of 4 percent to $578 million.

COMMENTS