Solera National Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018
April 19, 2018 at 04:39 pm EDT
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Solera National Bancorp, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total interest income of $1,865,000 compared to $1,438,000 a year ago. Net interest income was $1,443,000 compared to $1,104,000 a year ago. Net income before taxes was $519,000 compared to $318,000 a year ago. Net income was $400,000 or $0.15 per share compared to $200,000 or $0.07 per share a year ago. Tangible book value per share was $8.52 compared to $8.52 a year ago. Return on average assets was 0.86% compared to 0.51% a year ago. Return on average equity was 6.3% compared to 3.44% a year ago.
Solera National Bancorp, Inc. is the holding company for Solera National Bank (Bank). The Bank is a business-focused bank located in the Denver metropolitan area. The Bank serves the needs of emerging businesses and real estate investors. The Bank offers a range of commercial and consumer banking services. The Bank aggregates loans into five portfolio segments: commercial real estate, residential real estate, commercial and industrial, construction and land development, and consumer. The Bank's personal banking services include checking accounts, savings accounts, certificates of deposits (CDs), other products and services, certificate of deposit account registry service (CDARS) and others. The Bank's business banking services include checking accounts, savings accounts, business loans, CDs, remote deposit, CDARS, telephone banking, loans, treasury management and additional business services.