Shore Community Bank Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Net Loan Charge Offs for the Fourth Quarter of 2015
For the full year, the company reported a 20.5% increase in net income based on a reported net income of $1,301,410, or $0.52 per diluted share compared to $1,080,122, or $0.43 per diluted share, for the year ended December 31, 2014.
The company reported net loan charge offs for the fourth quarter of 2015 was $21,102 compared to net loan recoveries of $373,558 in the fourth quarter of 2014.