Albina Community Bancorp Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2012
For the year, the company reported total interest income of $5,330,000 against $7,002,000 a year ago. Net interest income after provision was $4,306,000 against $4,847,000 a year ago. Pretax loss was $379,000 against pretax income of $300,000 a year ago. Net loss was $379,000 or $0.29 per basic and diluted share against net income of $292,000 or $0.22 per basic and diluted share a year ago. Negative return on average assets was 0.29% against return on average assets of 0.21% a year ago.
The company reported net charge offs for the fourth quarter of 2012 totaled $49,000, or 0.26% of average loans during the quarter, significantly down from $382,000, or 1.61% of average loans during the fourth quarter of last year.