Willamette Community Bank Reports Earnings Results for the First Quarter of 2016
Willamette Community Bank reported earnings results for the first quarter of 2016. The company has also reported net income of $115,703 or $0.12 per share for first quarter of 2016, up from $105,233 or $0.11 per share in the second quarter of 2015. The 2016 results include approximately $50,000 of nonrecurring expenses primarily relating to the CFO transition. Adjusting for nonrecurring items, net income was $151,000 or $0.15 per share, a 36% improvement year over year and represents continued improvement in core earnings.