First NBC Bank Holding Company Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
February 02, 2016 at 07:30 am IST
First NBC Bank Holding Company announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company announced interest income of $46,899,000 compared to $38,956,000 for the same period a year ago. Net interest income was $32,919,000 compared to $28,091,000 for the same period a year ago. Income before income taxes was $1,431,000 compared to $5,081,000 for the same period a year ago. Net income attributable to company was $15,835,000 compared to $15,703,000 for the same period a year ago. Income available to common shareholders was $15,741,000 compared to $15,307,000 for the same period a year ago. Earnings per common share, diluted were $0.82 compared to $0.80 for the same period a year ago. Return on average common equity was 13.83% compared to 16.10% for the same period a year ago. Return on average equity was 12.16% compared to 14.51% for the same period a year ago. Return on average assets was 1.39% compared to 1.68% for the same period a year ago. Income before income taxes (non-GAAP) was $24,318,000 compared to $24,393,000 for the same period a year ago. Pro-forma income before income taxes (non-GAAP) was $12,628,000 compared to $11,547,000 for the same period a year ago. Pro forma net income (non-GAAP) was $8,223,000 compared to $7,433,000 for the same period a year ago. Diluted earnings per share, excluding merger-related expenses (non-GAAP) was $0.86 compared to $0.80 for the same period a year ago. The increase in net interest income compared to the linked quarter was due primarily to the increase in interest income on loans of $5.5 million offset by a decrease in interest income from short-term investments of $0.6 million and an increase in interest expense of $0.8 million.
For the full year, the company announced interest income of $166,540,000 compared to $149,978,000 for the same period a year ago. Net interest income was $115,446,000 compared to $107,249,000 for the same period a year ago. Income before income taxes was $10,662,000 compared to $28,613,000 for the same period a year ago. Net income attributable to company was $67,296,000 compared to $55,589,000 for the same period a year ago. Income available to common shareholders was $66,622,000 compared to $54,144,000 for the same period a year ago. Earnings per common share, diluted were $3.44 compared to $2.84 for the same period a year ago.