Republic First Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2016
For the year, the company reported total interest income of $54.227 million against $45.436 million a year ago. Net interest income was $47.364 million against $40.055 million a year ago. Income before benefit for income taxes was $4.826 million against $2.407 million a year ago. Net income $4.945 million or $0.12 per diluted share against $2.433 million or $0.06 per diluted share a year ago. Book value per common share increased to $3.79 as of December 31, 2016 compared to $3.00 as of December 31, 2015.
For the quarter, the company reported net charge-offs of $0.298 million against $0.120 million a year ago.