Apollo Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
Net income for the year ended December 31, 2015 totaled $1,403,000 resulting in an annualized return on average assets (ROA) of 0.89% and annualized return on average equity (ROE) of 7.43%. Net income for 2014 totaled $1,353,000 for a 0.88% ROA and 7.67% ROE. Earnings per share totaled $2.81 for 2015 compared with $2.71 for 2014. The increase in 2015 year-end earnings compared with 2014 was primarily the result of a $114,000 increase in net interest income offset by an increase of $21,000 in noninterest expense.