Aquesta Financial Holdings, Inc. Reports Unaudited Earnings Results for the First Quarter of 2018
April 24, 2018 at 04:13 pm
Aquesta Financial Holdings, Inc. reported unaudited earnings results for the first quarter of 2018. For the quarter, the company’s net interest income was $3.4 million as of March 31, 2018 compared to $2.9 million as of March 31, 2017. This is an increase of $506,000 or 17.5%. The increase in net interest income continues to be directly associated with the Company’s continued loan growth. Book value per share as of March 31, 2018 was $7.38. Tangible book value per share as of March 31, 2018 was $6.77. Net interest income after provision for loan losses was $3,180,000 compared to $2,893,000 a year ago. Income before income taxes was $882,000 compared to $648,000 a year ago. Net income was $702,000 compared to $460,000 a year ago. Diluted earnings per share were $0.16 compared to $0.11 a year ago. Return on average assets was 0.67% against of 0.50% a year ago. Return on average equity was 9.41% against of 6.68% a year ago.