Wilber Corp. posted a 41.5 percent drop in net income for the second quarter — the Oneonta bank holding company’s first reporting period with a retail branch in the Capital Region.

Wilber’s made $1.41 million in the second quarter of this year, down from $2.41 million in the second-quarter of 2007, when its income was boosted by two unusual events: a $615,000 non-taxable gain on life insurance from the death of a senior executive and a $200,000 flood recovery grant related to the 2006 flooding in the Mohawk Valley.

In late April, the Wilber National Bank parent opened its first area retail branch on Route 9 in Halfmoon, though it for years has operated a separate loan office in Clifton Park.

Wilber plans to open two more branches in Saratoga County over the next five years. Earlier this year, the company also raised its profile in the county by acquiring Clifton Park mortgage banker Provantage Funding Corp.

“We have invested in new markets and have begun to witness the first returns on our … investment in people, branches and system,” said Wilber President and Chief Executive Officer Douglas Gulotty. “Troubled times allow the community bank franchise to shine and is in stark contrast to what is occurring at national financial conglomerates and major investment houses.”

By June 30, Wilber had $726,400 in deposits, up 14.5 percent from a year earlier. During the same period, loans grew by 16.1 percent to $499,600.

The company, which has 22 branches, said it increased its personnel, occupancy and advertising expenses by $530,000 over the year to support its expansion campaigns in the greater Syracuse area and Capital Region. From its Syracuse loan office, Wilber has secured 37 accounts and $37 million in loan commitments. In Halfmoon, the bank pulled in $2.4 million in deposits along with nine remote-capture deposit relationships and $1 million in new deposits.

Other factors affecting Wilber’s second-quarter results included a $178,000 hit it took in deciding not to continue construction on an Onondaga County branch and a $91,000 net loss on the sale of other real estate. But $628,000 from the sale of its Mang-Wilber insurance agency partially offset those losses.

For the first half, Wilber’s net income declined 34.7 percent to $2.85 million, compared with the same period of 2007. Its results from the first six months of last year benefited from the $352,000 sale of a branch.

By the close of trading Friday, Wilber’s stock was unchanged at $7.96 per share.