J.B. Hunt up, ENB Financial down in Q2
A trucking company with midstate ties and a Lancaster County-based bank holding company reported earnings for the second quarter.
J.B. Hunt Transport Services Inc.
Arkansas-based J.B. Hunt Transport Services Inc., which has a terminal in Swatara Township, today announced net earnings of $93.4 million, or 79 cents per diluted share. That was up from $87.7 million, or 73 cents per diluted share, in the second quarter of 2013.
Most of J.B. Hunt’s business in the Harrisburg area is taking containers off Norfolk Southern trains at the Harrisburg and Rutherford rail yards to drive them to warehouses or stores.
The company posted load growth of 8 percent in intermodal and 15 percent in integrated capacity solutions, which helped drive increases in segment revenue of 9 percent and 31 percent, respectively. Its dedicated contract services segment revenue increased by 15 percent as productivity improved on large private fleet conversations implemented last year.
Truck segment revenue was flat with prior year with a slightly smaller fleet.
ENB Financial Corp.
ENB Financial Corp., the bank holding company for Ephrata National Bank, reported second-quarter net income Friday of $1.7 million, or 61 cents per diluted share.
That was down from $1.8 million, or 64 cents per diluted share, in the same quarter a year ago.
Net interest income was up $779,000, or 7.4 percent, to $11.3 million, according to ENB. The increase was primarily driven by an increase in total interest income and savings on deposit costs.
Total operating expenses increased $313,000, or 5.7 percent, compared to the second quarter of 2013. Salary and benefit expenses, which make up the largest portion of operating expenses, increased $297,000, or 9.3 percent. Those costs were primarily elevated due to two branch office locations that were opened last year and additional personnel in the corporation’s mortgage division.
Assets stood at $850.5 million, which was up 4.7 percent, while total deposits of $683.7 million were up 5.1 percent.
ENB has 10 branches in Lancaster and Lebanon counties. It trades on the NASDAQ under the ticker symbol ENBP.