Highlands Bankshares Inc. announced earnings results for the first quarter ended March 31, 2012. The company posted first quarter 2012 earnings of $697,000 or $0.52 per share of common stock outstanding (EPS), compared to $552,000 or $0.41 EPS for the same period of 2011, an increase of $145,000 or $0.11 EPS. Net interest income, on a fully taxable equivalent basis, increased 3.37% for the first three months of 2012, as compared to the same period in 2011. The increase in net interest income was driven by changes in average rates earned on assets and paid on interest bearing liabilities and by changes in the relative mix of earning assets and interest bearing liabilities. Return on average assets (ROAA) increased during the first three months of 2012 to 0.69%, as compared to 0.55% in the same period of 2011. Likewise, the return on average equity (ROAE) increased to 6.83% during the first three months of 2012, as compared to 5.44% in the same period of 2011.