American National Bankshares Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported total interest and dividend income of $14,032,000 against $17,177,000 a year ago. Income before income taxes was $5,526,000 against $6,846,000 for the same period a year ago. Net income was $3,918,000 against $4,652,000 for the same period a year ago. Net income available to common shareholders was $3,918,000 against $4,600,000 for the same period a year ago. Most of this decrease has been driven by the reduction of accretion income in addition to the declining yields in earning assets. Net income per basic and diluted common share was $0.50 against $0.59 for the same period a year ago. Book value per share as at December 31, 2012 was $20.80. Return on average assets was 1.21% against 1.42% a year ago. Return on average equity was 9.59% against 12.28% for the same period a year ago. Net interest income before provision for loan losses decreased to $12,177,000 in the fourth quarter of 2012 from $14,860,000 in fourth quarter of 2011, a decrease of $2,683,000 or 18.06%.

For the full year, the company reported total interest and dividend income of $57,806,000 against $49,187,000 a year ago. Income before income taxes was $22,299,000 against $16,481,000 for the same period a year ago. Net income was $16,006,000 against $11,571,000 for the same period a year ago. Net income available to common shareholders was $16,006,000 against $11,468,000 for the same period a year ago. Net income per basic and diluted common share was $2.04 against $1.64 for the same period a year ago. A large portion of earnings were driven by the July 2011 merger with MidCarolina. Return on average assets was 1.23% against 1.07% a year ago. Return on average equity was 10.08% against 8.88% for the same period a year ago.

The company announced charge off for the fourth quarter ended December 31, 2012. For the quarter, the company reported charge-offs of $404,000.