Presidio Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported interest income of $7,349,000 against $6,853,000 a year ago. Net interest income was $6,907,000 against $6,431,000 a year ago, this increase is due to higher average loan balances and the impact of rate increases by the Federal Reserve, which has led to an increase in Prime rate. Net income before taxes was $2,531,000 against $1,929,000 a year ago. Net income was $1,592,000 or $0.26 per diluted share against $1,204,000 or $0.19 per diluted share a year ago. Return on average assets was 0.90% against 0.69% a year ago. Return on average common equity was 9.03% against 7.09% a year ago.

For the six months, the company reported interest income of $14,202,000 against $12,681,000 a year ago. Net interest income was $13,337,000 against $11,832,000 a year ago. Net income before taxes was $4,459,000 against $3,532,000 a year ago. Net income was $2,796,000 or $0.45 per diluted share against $2,090,000 or $0.36 per diluted share a year ago. Return on average assets was 0.79% against 0.65% a year ago. Return on average common equity was 8.07% against 6.95% a year ago. Book value per share was $11.75 as of June 30, 2017 against $10.82 as of June 30, 2016.

Fort the quarter ended June 30, 2017, the company reported net charge-offs of $51,000, which represents the previously reserved portion of the Bank's one non-performing loan.