1st Capital Bank Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter of 2015
For the year, the company reported total interest and dividend income of $15.710 million compared to $13.819 million a year ago. Net interest income was $15.045 million compared to $13.198 million a year ago. Income before provision for income taxes was $3.825 million compared to $3.330 million a year ago. Net income was $2.831 million or $0.58 per diluted share compared to $1.960 million or $0.49 per diluted share a year ago. Return on average total assets was 0.49% compared to 0.45% a year ago. Return on average shareholders' equity was 5.51% compared to 4.96% a year ago.
The bank recorded net charge-offs of $4,000 in the fourth quarter of 2015, net of $17,000 in recoveries.