American Bank Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
For the six months, the company reported net income of $1.7 million, or $0.28 per diluted share, a decrease of $951,000 from the six months ended June 30, 2014. The primary reason for the decrease in net income for the six month period ended June 30, 2015 was an increase in the provision for loan losses of $546,000 and net gains on sales of available for sale securities of $829,000 realized in the first six months of 2014. Net interest income for the quarter ended June 30, 2015 was $3,337,000, an increase of $123,000 from the quarter ended June 30, 2014. Net interest income was $6.8 million, an increase of $382,000 from the six month period ended June 30, 2014.