Union First Market Bankshares Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company's total interest and dividend income was $46.3 million compared with $48.8 million a year ago. Net interest income was $38.5 million compared with $39.2 million a year ago. Income before income taxes was $11.5 million compared with $5.7 million a year ago. Net income was $8.4 million compared with $4.4 million a year ago. Net income available to common shareholders was $7.3 million or $0.28 per diluted share compared with $3.9 million or $0.15 per diluted share a year ago. The increase is largely a result of decreases in the provision for loan losses and the FDIC assessment due to changes in assessment base and rate. Return on average assets was 0.84% compared with 0.46% a year ago. Return on average equity was 7.49% compared with 4.07% a year ago. For the year, the company's total interest and dividend income was $189.1 million compared with $189.8 million a year ago. Net interest income was $156.4 million compared with $151.6 million a year ago. Income before income taxes was $41.7 million compared with $31.5 million a year ago. Net income was $30.4 million compared with $22.9 million a year ago. Net income available to common shareholders was $27.8 million or $1.07 per diluted share compared with $21.0 million or $0.83 per diluted share a year ago. The increase was principally a result of favorable net interest income and the absence of nonrecurring prior year acquisition costs. Return on average assets was 0.79% compared with 0.61% a year ago. Return on average equity was 6.90% compared with 5.50% a year ago. As on December 31, 2011, the company's book value per common share was $16.17.