Farmers National Banc Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2015
For the year, net income was $8,055,000 or $0.36 per basic and diluted share compared to $8,965,000 or $0.48 per basic and diluted share a year ago. Net interest income was $49,737,000 against $36,336,000 a year ago. Total interest income was $53,827,000 against $40,915,000 a year ago. Income before income taxes was $10,554,000 against $11,597,000 a year ago. Return on average assets (annualized) was 0.54% against 0.79% a year ago. Return on average equity (annualized) was 4.97% against 7.45% a year ago. Book value per share was $7.35 as at December 31, 2015 against $6.71 per share as at December 31, 2014. Tangible book value per share was $5.77 as at December 31, 2015 against $6.23 per share as at December 31, 2014. Income before income taxes adjusted was $16,946,000 against $11,597,000 a year ago. Net income adjusted was $12,886,000 against $8,965,000 a year ago.
For the quarter, the company reported net charge-offs of $296,000 against $526,000 a year ago.