ATB Financial, formerly Alberta Treasury Branches reported increased earnings in the third quarter ended December 31.

The Alberta-based financial network said net income for the quarter was $46.7 million, compared to $41.4 million for the same period last year. The third quarter results increased ATB’s equity to $565.8 million as at December 31, 2001.

“ATB has established a strong track record for sustained earnings and increased market share over the past five years,” said Bob Normand, president and CEO of ATB Financial. “We are committed to being Albertans’ first choice for financial services.”

Total assets increased 7.76% over last year to $12.4 billion. Total loans increased 6.85% over last year to $10.3 billion. Total deposits climbed 6.14% to$11.4 billion.

Net interest income during the quarter was $92.6 millionm up slightly from $92.4 million for the same quarter last year.

Non-interest expenses increased to $70.8 million, up 5.46% from $67.1 million for the same quarter last year.

ATB’s efficiency ratio was 58.74% compared to 57.81% for the same nine-month period last year.