Dacotah Banks, Inc. Reports Audited Consolidated and Parent Earnings Results for the Year Ended December 31, 2016
May 23, 2017 at 07:26 am IST
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Dacotah Banks, Inc. reported audited consolidated and parent earnings results for the year ended December 31, 2016. For the period, the consolidated company’s net interest income was $84,655,000 against $81,253,000 a year ago. Net interest income after provision for loan and lease losses was $81,355,000 against $78,553,000 a year ago. Income before income taxes was $35,352,000 against $33,581,000 a year ago. Net income was $22,969,000 against $21,244,000 a year ago. Basic net income per share was $2.068 against $1.918 a year ago. Return on average assets was 1.02% against 0.96% a year ago. Return on average stockholders' equity was 9.12% against 9.10% a year ago. Net cash from operating activities was $30,583,000 against $25,140,000 a year ago. Purchases of premises and equipment were $2,888,000 against $3,553,000 a year ago.
For the period, the parent company’s total income was $9,127,000 against $8,565,000 a year ago. Net income was $22,969,000 against $21,244,000 a year ago. Net cash from operating activities was $7,833,000 against $2,450,000 a year ago. Purchases of premises and equipment, net were $288,000 against $85,000 a year ago.
Dacotah Banks, Inc. is the holding company of Dacotah Bank, which provides a full range of banking services to individuals and businesses through its market locations in Aberdeen, Brookings, Clark, Lemmon, Mobridge, Rapid City, Sioux Falls, Sisseton, Watertown, and Webster, South Dakota, and Dickinson, Jamestown, Minot, Rolla, and Valley City, North Dakota, and Morris, Minnesota. It provides trust services to individuals and businesses. Its general insurance operations are conducted in 15 of the 34 locations. Its primary deposit products are demand deposits and certificates of deposit, and its primary lending products are commercial, agricultural, real estate mortgage, and consumer loans. Its business services include card solutions, mobile and online solutions, cash management solutions, money markets, business checking, business insurance and investment and wealth management. It also provides agriculture insurance, agriculture checking, and farm and ranch management.