Clarkston Financial Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
February 04, 2016 at 12:03 pm EST
Clarkston Financial Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported interest and fees on loans of $1,483,000 compared with $1,466,000 for the same period last year. Total interest income was $1,530,000 compared with $1,505,000 for the same period last year. Net interest income was $1,409,000 compared with $1,353,000 for the same period last year. Net income was $227,000 compared with $926,000 for the same period last year. Book value per share as on December 31, 2015 was $4.26 compared with $3.97 as on December 31, 2014. Return on average assets was 0.57% compared with 2.59% for the same period last year. Return on average equity was 6.62% compared with 30.80% for the same period last year. Basic and diluted earnings per share were $0.07 against $0.30 per share a year ago.
For the year, the company reported interest and fees on loans of $5,853,000 compared with $5,802,000 for the same period last year. Total interest income was $6,019,000 compared with $5,952,000 for the same period last year. Net interest income was $5,515,000 compared with $5,395,000 for the same period last year. Net income was $1,030,000 or $0.32 per share compared with $1,736,000 or $0.53 per share for the same period last year.