AltaPacific Bancorp Bancorp Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
AltaPacific Bancorp announced unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the full year, the company announced interest income of $20,102,000 compared to $20,607,000 for the same period a year ago. Net interest income was $18,646,000 compared to $19,277,000 for the same period a year ago. Pre-tax income was $7,426,000 compared to $8,798,000 for the same period a year ago. Net income was $4,375,000 compared to $5,271,000 for the same period a year ago. Return on average assets was 1.19% compared to 1.53% for the same period a year ago. Return on average equity was 7.95% compared to 10.38% for the same period a year ago. Earnings per share, diluted were $0.74 compared to $0.89 for the same period a year ago. Book value per share was $9.71 compared to $9.23 for the same period a year ago.
For the fourth quarter, the company announced interest income of $4,786,000 compared to $4,766,000 for the third quarter ended September 2016. Net interest income was $4,419,000 compared to $4,402,000 for the third quarter ended September 2016. Pre-tax income was $1,808,000 compared to $2,099,000 for the third quarter ended September 2016. Net income was $1,018,000 compared to $1,275,000 for the third quarter ended September 2016. Return on average assets was 1.07% compared to 1.38% for the third quarter ended September 2016. Return on average equity was 7.12% compared to 9.06% for the third quarter ended September 2016. Earnings per share, diluted were $0.17 compared to $0.21 for the third quarter ended September 2016. Book value per share was $9.71 compared to $9.61 for the third quarter ended September 2016.