Emclaire Financial Corp. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. Net income available to common stockholders increased $377,000, or 43.1%, to $1.3 million or $0.70 per diluted common share for the quarter ended December 31, 2014 compared to $874,000 or $0.49 per diluted common share for the same period in 2013. This increase primarily related to an increase in net interest income of $796,000 and a decrease in preferred stock dividends of $30,000, partially offset by increases in noninterest expense, provision for income taxes and provision for loan losses of $249,000, $171,000 and $19,000, respectively, and a decrease in noninterest income of $10,000. The Corporation realized an annualized return on average assets and common equity of 0.86% and 11.32%, respectively, for the three months ended December 31, 2014, compared to 0.71% and 8.64%, respectively, for the same period in 2013. Net interest income was $4,904,000 against $4,108,000 a year ago. Income before income taxes was $1,649,000 against $1,131,000 a year ago. Return on average equity was 10.37% against 8.17% a year ago.

The company reported consolidated net income available to common stockholders of $3.9 million, or $2.20 per diluted common share for the twelve months ended December 31, 2014, an increase of $529,000, or 15.6%, from $3.4 million or $1.91 per diluted common share reported for the same period in 2013. The increase in net income available to common stockholders was primarily driven by an increase in net interest income and a decrease in preferred stock dividends. The Corporation realized a return on average assets of 0.70% and a return on average common equity of 9.24% for the year ended December 31, 2014, compared to 0.73% and 8.32%, respectively, reported for the same period in 2013. Net interest income was $17,235,000 against $15,921,000 a year ago. Income before income taxes was $5,065,000 against $4,721,000 a year ago. Return on average equity was 8.47% against 7.73% a year ago. Book value per common share was $24.14 against $22.66 a year ago. Tangible book value per common share was $21.66 against $20.04 a year ago.