Tri City Bankshares Corp. reported unaudited earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported interest Income of $12,520,286 against $12,843,229 for the same period last year. Net interest income was $11,610,517 against $11,515,507 for the same period last year. Net interest income increased $0.1 million and was offset by a $0.1 million increase in loan loss reserves. Total income before taxes was $4,075,910 against $3,159,972 for the same period last year. Net income was $2,569,565 or $0.29 per share against $2,285,686 or $0.26 per share for the same period last year. The increase in earnings was due to a $0.8 million increase in non-interest income and a $0.2 million decrease in non-interest expense which was partially offset by a higher effective tax rate. Operating earnings during the first quarter of 2012 were also positively affected by an increase in Acquisition-related purchase accounting income, which totaled $1.8 million during the first quarter of 2012 compared to $1.4 million during the same period in 2011. The board of directors declared a dividend of $0.21 per share payable on May 3, 2012 to shareholders as of the record date of April 23, 2012.