Aquesta Financial Holdings, Inc. reported a 43 percent increase in its third-quarter net income in a statement Tuesday.

The company reported net income of $1.0 million, or 17 cents per share, up from $702,000, or 16 cents per share, in the same quarter a year ago.

The company also opened its eighth branch, the Rea Farms branch, in Charlotte, and exceeded $500 million in total assets for the first time during the quarter.

“We experienced another quarter of exciting growth in earnings, core deposits and loans,” said CEO Jim Engel. “Our annualized 37.1 percent growth in core deposits continues to demonstrate our employees’ dedication to serving our customers and the community at-large. We hope to continue our strong performance as we approach the end of 2019.”

Aquesta is a full-service community bank with eight branches across North and South Carolina. Aquesta stock closed at $10.91 per share on Tuesday, down two cents.