Prime Meridian Holding Company Declares First Annual Cash Dividend Payable on March 8, 2016; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
January 29, 2016 at 12:44 am IST
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Prime Meridian Holding Company announced that its Board of Directors has declared the company's first annual cash dividend of $0.05 per share on its common stock. This dividend is payable on March 8, 2016 to shareholders of record on February 18, 2016.
The company reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, total interest income was $2,465,000 against $2,211,000 a year ago. Net interest income was $2,273,000 against $2,047,000 a year ago. Earnings before income taxes were $682,000 against $844,000 a year ago. Net earnings were $501,000 or $0.26 per basic and diluted share against $545,000 or $0.30 per basic and diluted share a year ago. Book value per share as at December 31, 2015 was $12.62 against $11.78 as at December 31, 2014. Return on average assets was 0.81% against 1.06% a year ago. Return on average assets was 0.74% against 0.48% a year ago.
For the year, total interest income was $9,289,000 against $8,116,000 a year ago. Net interest income was $8,572,000 against $7,455,000 a year ago. Earnings before income taxes were $2,548,000 against $1,520,000 a year ago. Net earnings were $1,704,000 or $0.87 per diluted share against $1,704,000 or $0.58 per diluted share a year ago. Return on average equity was 8.18% against 10.33% a year ago. Return on average equity was 7.15% against 5.21% a year ago.
Prime Meridian Holding Company is a bank holding company for Prime Meridian Bank (the Bank). The Companyâs operation consists of owning the stock of the Bank. The Bank provides a range of consumer and commercial banking services to individuals and businesses. Its electronic banking services include mobile banking, remote deposit, mobile deposit, Apple Pay, Bank-to-Bank transfers and online banking. The Bank offers basic services that include demand interest-bearing and noninterest-bearing accounts, savings accounts, money-market deposit accounts, health savings accounts (HSA), negotiable order of withdrawal (NOW) accounts, time deposits, safe deposit services, wire transfers, foreign exchange services, escrow accounts, debit cards, direct deposits, notary services, night depository, official checks, domestic collections, bank drafts, automated teller services, drive-in tellers, banking by mail, credit cards through a third party, and merchant card services with a third party.
Prime Meridian Holding Company Declares First Annual Cash Dividend Payable on March 8, 2016; Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015