Mars National Bancorp, Inc. announced unaudited earnings results for the first quarter ended March 31, 2016. The company earned $252,000 as compared to $253,000 for the same period in the prior year, a decrease of $1,000. The decrease in earnings was primarily due to a decrease in non-interest income of $172,000 and an increase in income tax expense of $69,000.

The decrease in earnings was offset by an increase in net interest income of $29,000, a decrease in provision for loan losses of $37,000 and a reduction in non-interest expense of $174,000. Net interest income was $2,397,000 against $2,368,000 a year ago. Net interest income increased by $29,000 or 1.2% for the three months ended March 31, 2016 as compared to the same period in 2015.

The increase of $29,000 was primarily due to increase in average loan receivables of $28.4 million for the three months ended March 31, 2016 compared to the same period in 2015. This was partially offset by a decrease in average investment security balances of $32.5 million for the three months ended March 31, 2016 as compared to the same period in 2015. Return on average assets was 0.28% against 0.28% a year ago.

Return on average equity was 2.91% against 2.93% a year ago. Earnings per share was $3.15 against $3.16 a year ago.