Presidio Bank reported unaudited consolidated financial results for the fourth quarter and year ended December 31, 2013. For the quarter, interest income was $4,388,000 against $3,683,000 for the same period of last year. Net interest income was $4,188,000 against $3,473,000 for the same period of last year. Net income before taxes was $1,253,000 against $81,000 for the same period of last year. Net Income applicable to common shareholders was $622,000 against loss of $138,000 for the same period of last year. Diluted earnings per common share were $0.15 against loss of $0.03 for the same period of last year. The Bank also ended the year with record high levels of loans, deposits and total assets. Net interest income of $4.2 million in the fourth quarter was up 2% over the third quarter of 2013. Return on average assets was 0.66% compared to 0.00% a year ago. Return on average common equity was 6.63% compared to negative return on average common equity of 1.56% a year ago.

Interest income was $16,753,000 against $14,834,000 for the same period of last year. Net interest income was $15,946,000 against $13,954,000 for the same period of last year. Net income before taxes was $4,130,000 against $2,274,000 for the same period of last year. Net Income applicable to common shareholders was $1,890,000 against $724,000 for the same period of last year. Book value per share increased to $8.99 per share as of December 31, 2013 from $8.74 per share at September 30, 2013 and $8.46 per share at December 31, 2012. Diluted earnings per common share were $0.45 for 2013 compared to $0.18 for 2012. Return on average assets was 0.58% compared to 0.33% a year ago. Return on average common equity was 5.22% compared to 2.09% a year ago.