Dimeco Inc. announced earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income for the quarter was $1.59 million, an increase of $25,000, or 1.6% over that of 2012. The annualized return on average assets for the quarter was 1.06%, and return on average equity was 10.49%.

While these are respectful performance numbers, it should be noted that both are down slightly from the first quarter of 2012, as assets and equity have grown at faster paces than income. Book value and market value per share are up 6.5% and 4.8% respectively. Total loans increased $15.9 million or 3.5% with a larger growth in commercial real estate loans which increased $7.2 million or 2.6% including loans granted to a variety of commercial borrowers.

Total deposits increased $14.8 million or 3.1% from balances a year earlier.