First NBC Bank Holding Company Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Records Write-Down of Real Estate for the Third Quarter Ended September 30, 2013
For the nine months ended September 30, 2013, the company reported net income available to common shareholders of $27.1 million, generating an annualized return on average stockholders' equity of 11.90% and an annualized return on average assets of 1.26%. The company reported net income available to common shareholders of $23.5 million for the nine months ended September 30, 2012. The company reported earnings per share on a diluted basis of $1.61 per diluted share compared to $1.66 per diluted share for the prior year nine month period, a decrease of $0.05 per diluted share, or 3.0%. Net interest income for the nine months ended September 30, 2013 totaled $60.8 million, an increase of $5.7 million, or 10.4%, from the same period of 2012. Income before income taxes was at $13.47 million against $16.01 million reported last year. Interest income was $89.6 million against $78.1 million reported last year.
The company reported Write-down of other real estate of $29 million against $22 million reported last year.