First NBC Bank Holding Company Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013
First NBC Bank Holding Company announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net interest income was $24.1 million an increase of $2.3 million, or 10.5%, from the linked-quarter and an increase of $4.4 million, or 22.1%, from the three month period ended December 31, 2012. Interest income was $34,437,000 compared to $28,394,000 for the same period a year ago. Income before income taxes was $7,689,000 against $5,880,000 a year ago. Net income attributable to bank was $13,556,000 or $0.69 per diluted share against $5,062,000 or $0.35 per diluted share a year ago. Income available to common shareholders was $13,461,000 compared to $4,967,000 for the same period a year ago. Return on average common equity was 16.77% against 10.10% a year ago. Return on average equity was 14.55% against 8.10% a year ago. Return on average assets was 1.68% against 0.77% a year ago. Non-GAAP pre-tax net income was $6,340,000 against $3,416,000 a year ago. Non-GAAP after tax net income was $12,679,000 or $0.66 per share against $3,835,000 or $0.24 per share a year ago.
For the year, the company reported net interest income was $84.9 million, an increase of $10.1 million, or 13.5%, from the same period of 2012. Net interest margin was 3.11% against 3.36% a year ago. Interest income was $124,024,000 compared to $106,457,000 for the same period a year ago. Income before income taxes was $21,160,000 against $21,885,000 a year ago. Net income attributable to bank was $40,911,000 or $2.32 per diluted share against $28,940,000 or $2.02 per diluted share a year ago. Income available to common shareholders was $40,564,000 compared to $28,430,000 for the same period a year ago. Return on average stockholders' equity of 12.63% and a return on average assets of 1.37%. Non-GAAP pre-tax net income was $6,340,000 against $3,416,000 a year ago.