Cambridge Bancorp Announces Unaudited Consolidated Financial Results for the Quarter and Year Ended December 31, 2014
For the year, the company reported total interest income of $50.371 million against $47.661 million a year ago. Net interest income after provision for loan losses was $46.723 million against $43.967 million a year ago. Income before income taxes was $22.180 million against $21.037 million a year ago. Net income was $14.944 million or $3.78 per diluted share against $14.140 million or $3.62 per diluted share a year ago. Net cash provided by operating activities was $16.101 million against $23.195 million a year ago. Purchase of banking premises and equipment was $33,000 against $5.306 million a year ago. Return on average assets was 0.98% against 0.99% a year ago. Return on average equity was 12.87% against 13.63% a year ago.