Republic First Bancorp Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2015; Announces Net Charges for the Fourth Quarter Ended Dec. 31, 2015
For the year, the company reported total interest income of $45,436,000, net interest income of $40,055,000, total non-interest income of $9,943,000, income before benefit for income taxes of $2,407,000, net income of $2,433,000 or $0.06 basic and diluted per share, compared to the total interest income of $40,473,000, net interest income of $35,829,000, total non-interest income of $8,017,000, income before benefit for income taxes of $2,396,000, net income of $2,442,000 or $0.07 basic and diluted per share, for the previous year. Tangible book value per share increased to $3.00 at December 31, 2015 compared to $2.98 per
share at December 31, 2014.
The company announced Net charge-offs for the fourth quarter ended Dec. 31, 2015. For the quarter the company announced Net charge-offs of $120,000 against $980,000 for the same quarter a year ago.