Iowa First Bancshares Corp. announced unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2012. For the quarter, the company reported net Interest income of $3,009,000 against $3,283,000 a year ago. Net income after income taxes was $865,000 against $832,000 a year ago. Diluted net income per share was $0.78 against $0.75 a year ago.

For the period, the company reported net Interest income of $13,045,000 against $13,077,000 a year ago. Net income after income taxes was $4,106,000 against $3,530,000 a year ago. Diluted net income per share was $3.66 against $3.13 a year ago. Return on equity was 11.5% against 10.6% a year ago. Return on average assets was 0.97% against 0.83% a year ago. The increase in net income for the entire year of 2012 compared to the prior year was primarily attributable to a reduction in provision for loan losses; no such provision was necessary in 2012 compared to $945,000 in 2011.