Commerce Union Bancshares, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 26, 2017 at 07:00 pm IST
Commerce Union Bancshares, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company announced total interest income was $8,948,000 compared to $8,708,000 for the same period a year ago. Net interest income was $8,043,000 compared to $7,901,000 for the same period a year ago. Income before provision for income taxes was $1,877,000 compared to $2,158,000 for the same period a year ago. Net income attributable to common shareholders was $1,971,000 compared to $1,528,000 for the same period a year ago. Diluted net income attributable to common shareholders, per share was $0.25 compared to $0.21 for the same period a year ago. Book value per common share was $13.75 compared to $13.29 for the same period a year ago. Tangible book value per common share was $12.08 compared to $11.46 for the same period a year ago. Return on average assets was 0.87% compared to 0.71% for the same period a year ago. Return on average stockholders' equity was 7.33% compared to 6.60% for the same period a year ago. Adjusted operating income was $8,915,000 compared to $8,267,000 for the same period a year ago.
For the full year, the company announced total interest income was $36,015,000 compared to $29,888,000 for the same period a year ago. Net interest income was $32,652,000 compared to $27,170,000 for the same period a year ago. Income before provision for income taxes was $10,110,000 compared to $8,253,000 for the same period a year ago. Net income attributable to common shareholders was $8,936,000 compared to $5,575,000 for the same period a year ago. Diluted net income attributable to common shareholders, per share was $1.16 compared to $0.86 for the same period a year ago.