Allegiance Bancshares, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended Dec. 31, 2016; Reports Net Charge-Offs for the Fourth Quarter
For the year, the company reported total interest income of $100,778,000 compared to $88,806,000 a year ago. Net interest income was $89,864,000 compared to $80,166,000 a year ago. Income before income taxes was $32,405,000 compared to $23,561,000 a year ago. Net income attributable to common stockholders was $22,851,000 or $1.75 per diluted share compared to $15,227,000 or $1.43 per diluted share a year ago. Return on average assets was 0.98% compared to 0.81% a year ago. Return on average common equity was 8.36% compared to 7.43% a year ago. Return on average tangible common equity was 9.96% compared to 9.52% a year ago. Excluding the gain on the sale of two Central Texas branch locations during the first quarter 2016, net income attributable to common shareholders would have been $21.5 million and net income per diluted common share would have been $1.65 for the year ended December 31, 2016.
For the quarter, net charge-offs were $174,000 compared to $265,000 a year ago.