Clarkston Financial Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Reports Net Loan Charge-Offs for the Third Quarter of 2015
For the nine months period, the company reported total interest income of $4,488,000 compared to $4,447,000 a year ago. Net interest income was $4,105,000 compared to $4,042,000 a year ago. Income before income taxes was $1,204,000 compared to $811,000 a year ago. Net income was $803,000 or $0.25 per basic and diluted share compared to $811,000 or $0.25 per basic and diluted share a year ago. Book value per share as at September 30, 2015 was $4.19 compared to $3.67 a year ago.
The company reported net loan charge-offs of $16,000 for the third quarter of 2015 compared to $12,000 a year ago.