Lighthouse Bank Announces Unaudited Financial Results for the Fourth Quarter and Full Year Ended December 31, 2015
For the full year, the company's interest income was $8,187,660 compared to $8,374,513 a year ago. Net interest income was $7,816,915 compared to $7,995,546 a year ago. Net income before taxes was $3,715,727 compared to $3,917,591 a year ago. Net income was $2,350,030 or $1.05 per basic share, compared to $2,436,678 or $1.12 per basic share, a year ago. Book value per share was $12.23 compared to $11.80 a year ago. Return on average assets was 1.33% compared to 1.47% a year ago. Return on average assets was 8.85% compared to 9.97% a year ago. The small decrease in earnings was primarily the result of increased employee expenses.