First National Community Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported total interest income of $8,606,000 against $8,019,000 a year ago. Income before income taxes was $1,490,000 against loss of $31,000 a year ago. Net income was $29,209,000 or $1.77 basic and diluted per share against loss of $31,000 a year ago. Net interest income was $7,798,000 against $6,771,000 a year ago. Return on average assets and return on average shareholders' equity were 10.99% and 192.68%, respectively, compared to negative return on average assets and negative return on average shareholders' equity of 0.01% and 0.24%, respectively, for the same three months of 2014.

For the year, the company reported total interest income of $32,201,000 against $32,673,000 a year ago. Income before income taxes was $8,081,000 against $13,746,000 a year ago. Net income was $35,840,000 or $2.17 basic and diluted per share against $13,420,000 or $0.81 basic and diluted per share a year ago. Net interest income before the credit for loan and lease losses increased $874,000, or 3.3%, to $27.4 million in 2015 from $26.5 million in 2014. The improvement in net interest income reflected a $1.3 million, or 21.9%, decrease in interest expense, which was due primarily to a 19 basis point reduction in the company's cost of funds to 0.61% in 2015 from 0.80% in 2014. Return on average assets and return on average shareholders' equity equaled 3.57% and 63.24%, respectively in 2015, compared to 1.38% and 29.50%, respectively, in 2014. Tangible book value improved 68.1% to $5.21 per share at December 31, 2015 compared to $3.10 per share at December 31, 2014. Book value per share as on December 31, 2015 was $5.22 against $3.12 as at December 31, 2014.

For the quarter, the company reported net charge-offs of $30 million against $138 million a year ago.