Shore Community Bank Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Records Net Loan Charge Offs for the Fourth Quarter of 2015
For the full year, the company reported a 20.5% increase in net income based on a reported net income of $1,301,410, or $0.52 per diluted share, for the year ended December 31, 2015, compared to $1,080,122, or $0.43 per diluted share, for the year ended December 31, 2014. Book value per share at December 31, 2015 was $9.99 compared to $9.62 at December 31, 2014.
Net loan charge-offs for the fourth quarter of 2015 totaled $21,102 compared to net loan recoveries of $373,558 in the fourth quarter of 2014.