Denmark Bancshares Inc. announced unaudited financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net interest income of $3,603,000 against $3,397,000 a year ago. This was a result of an increase of $0.1 million in interest income as well as a decline of the same amount in interest expense. Net income was $882,000 or $7.48 per share against $915,000 or $7.72 per share a year ago. This was a result of an increase of $0.1 million in interest income as well as a decline of the same amount in interest expense. Return on average equity was 5.70% against 6.20% a year ago. Return on average assets was 0.79% against 0.85% a year ago.

For the nine months, the company reported net interest income of $10,544,000 against $10,073,000 a year ago. Book value per share as on September 30, 2014 was $526.79 against $500.94 as on September 30, 2013. Net income was $2,677,000 or $22.68 per share against $2,915,000 or $24.59 per share a year ago. Return on average equity was 5.77% against 6.58% a year ago. Return on average assets was 0.80% against 0.91% a year ago. Year over year declines are attributable to a $218,000 non-recurring tax benefit received in 2013 and a decrease in the gain on sale of loans of $210,000.