Reading Co-operative Bank has reported net income of $2.1 million in 2009, compared to $1.4 million in 2008, a 53.3 percent increase.

The bank’s net interest margin increased to 3.47 percent from 3.3 percent for the same period.

In 2009, the bank’s total assets increased to $307.2 million, from $269 million in 2008, an increase of $38.2 million or 14.2 percent. The bank’s net loans increased 11.1 percent, and the bank’s deposits increased 26.9 percent year over year, according to a statement.

"We are continually satisfied with our operating results, which exceeded budget by 20.2 percent for the year; we have again performed in the top 7 percent of banks nationally for 2009," said President and CEO Julieann M. Thurlow. "I credit these strong results to our community focus and strong management team. Many banks reported dismal earnings or even losses for 2008 which allow them to showcase their 2009 performance comparatively; we are pleased to report consecutive years of strong performance despite the down turn in the economy."