Albina Community Bancorp reported unaudited earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported total interest income of $1,320,000 against $1,638,000 a year ago. Net interest income was $1,091,000 against $1,284,000 a year ago. Pretax income was $252,000 against pretax loss of $126,000 a year ago. Net income was $252,000 or $0.19 per basic and diluted share against net loss of $126,000 or $0.10 per basic and diluted share a year ago. Return on average assets was 0.77% against negative return on average assets of 0.36% a year ago. Total revenue (net interest income plus non-interest income) increased 32% to $1.96 million in the third quarter, compared to $1.48 million in the preceding quarter, and grew 13% from $1.74 million in the quarter ended September 30, 2011.

For the nine months, the company reported total interest income of $4,186,000 against $5,458,000 a year ago. Net interest income was $3,437,000 against $4,280,000 a year ago. Pretax income was $362,000 against $150,000 a year ago. Net income was $362,000 or $0.27 per basic and diluted share against $135,000 or $0.10 per basic and diluted share a year ago. Return on average assets was 0.37% against 0.13% a year ago.

Net charge offs for the third quarter of 2012 totaled $13,000, or 0.06% of average loans during the quarter, down sharply from $243,000, or 0.99% of average loans during the third quarter of last year.