Shore Community Bank Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Net Loan Charge-Offs
For the six months ended June 30, 2015, the Bank reported net income of $549,478, or 22 cents per diluted share, compared to net income of $361,011, or 14 cents per diluted share, for the six months ended June 30, 2014. Book value per share at June 30, 2015 was $9.71 based on 2,465,807 shares outstanding, compared to $9.62 at December 31, 2014 based on 2,425,138 shares outstanding. Earnings per share and book value per share for all reported periods have been adjusted for the 10% stock dividend declared in March 2015.
Net loan charge-offs totaled $165,887 in the second quarter of 2015, compared to $27,854 in the same period in 2014.