Cambridge Bancorp Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2015
For the year, the company reported total interest income of $54.341 million against $50.371 million a year ago. Net interest income was $51.647 million against $48.273 million a year ago. Net interest income after provision for loan losses was $50.572 million against $46.723 million a year ago. Income before income taxes was $23.245 million against $22.180 million a year ago. Net income was $15.694 million or $3.93 per diluted share against $14.944 million or $3.78 per diluted share a year ago. Net cash provided by operating activities was $20.016 million against $16.101 million a year ago. Purchase of banking premises and equipment was $4.939 million against $0.233 million a year ago. Return on average assets was 0.95% against 0.98% a year ago. Return on average equity was 12.91% against 12.87% a year ago. Book value per share was $31.26 as on December 31, 2015 against $29.50 as on December 31, 2014. Tangible book value per share was $31.04 as on December 31, 2015 against $29.31 as on December 31, 2014.