ONE of the region's top building societies has produced record interim results for the six months ending June 30, 2000.

Darlington Building Society's new lending was £46.3m - 27 per cent higher than the corresponding period in 1999. Total advances to 11,200 borrowers now exceed £325m, 10 per cent up on 12 months previously.

Members' balances in 104,000 savings accounts were also buoyant at £343m, five per cent higher than the period to June 30, 1999. The society now manages total assets of £411m, up ten per cent on the first half of last year.

Peter Rowley, chief executive of Darlington Building Society, said: "We are very pleased with the strength of our performance, which is driven by our members' preference for the superior pricing, service and local knowledge that we offer as we are dedicated to looking after local interests ."

Operating profit increased sharply for the six months to £1.8m from £1.4m, up 28.5 per cent. This was despite a continuing investment programme which saw the relocation of the society's Redcar branch to a bigger and better site in May.

Retained profit after tax was £1.1m, 47 per cent higher than the first half of 1999. Reserves now stand at £30m.

"Notwithstanding the intensity of competition for retail savings and mortgage business, we continue to attract new members and increase our market shares," continued Mr Rowley.

"Our commitment to the region is both undoubted and unsurpassed, particularly at a time when other operators seem intent on reducing their branch networks."

He said Darlington Building Society has demonstrated an unceasing dedication to its members.

"A new Darlington Building Society Mortgage Shop will provide greater access to the Society's quality mortgage products in the heart of Darlington's estate agency district in August. We also intend to relocate our Bishop Auckland branch."