Centric Financial Corp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
January 26, 2018 at 08:34 am EST
Centric Financial Corp. Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income was $6,477,000 compared to $5,261,000 a year ago. Net interest income was $5,355,000 compared to $4,485,000 a year ago. Net interest income after provision expense was $5,035,000 compared to $4,870,000 a year ago. Income before taxes was $2,051,000 compared to $1,578,000 a year ago. Net income available to common shareholders was $576,000 compared to $1,076,000 a year ago. Basic net income per share was $0.09 compared to $0.17 a year ago. Book value was $6.51 compared to $5.94 a year ago. Tangible book value was $6.44 compared to $5.87 a year ago. Return on average assets was 0.43% compared to 0.90% a year ago. Return on average equity was 5.55% compared to 11.62% a year ago.
For the full year, the company reported total interest income was $23,798,000 compared to $18,079,000 a year ago. Net interest income was $19,959,000 compared to $15,231,000 a year ago. Net interest income after provision expense was $18,563,000 compared to $13,581,000 a year ago. Income before taxes was $6,739,000 compared to $4,433,000 a year ago. Net income available to common shareholders was $3,744,000 compared to $3,042,000 a year ago. Basic net income per share was $0.59 compared to $0.48 a year ago. Return on average assets was 0.72% compared to 0.71% a year ago. Return on average equity was 9.44% compared to 8.50% a year ago.