Golden Valley Bank reported earnings results for the fourth quarter and full year ended December 31, 2016. Net income for the quarter ended December 31, 2016 was $218,512 or $0.11 per share compared to net income of $346,346 or $0.17 per share for the quarter ended December 31, 2015. Income was similarly affected by the one-time expense. Without that expense, income for the quarter would have been $444,308, a 28% increase over the same quarter last year. Net income for the year was $1,521,752 or $0.74 per share compared to $1,539,330 or $0.77 per share for the year ended December 31, 2015. The fourth quarter and full year were effected by a one-time after-tax expense of $225,796 taken in the fourth quarter to voluntarily terminate an executive retirement plan. Without the one-time expense the Bank’s 2016 net income would have been $1,747,548, a 13.5% increase over 2015.