Bank of Commerce Holdings announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income available to common shareholders of $1.6 million or $0.12 per share diluted, compared with $2.0 million or $0.14 per share diluted for the same period of 2013. The company reported total interest income of $9.5 million compared to $9.3 million, net interest income of $8.3 million compared to $8.5 million, income before provision for income taxes of $1.3 million compared to $3.5 million, return on average assets of 0.68% compared to 0.89% and return on average equity of 6.50% compared to 8.18% for the last year. The decrease in net income available to common shareholders in the current quarter compared to the same period a year ago was primarily driven by increased loan loss provisions and increased noninterest expense partially offset by increased noninterest income and a decreased provision for income taxes. The decrease in return on average equity was primarily driven by decreased net income, partially offset by the decrease in weighted average shares resulting from the Company's publically announced common stock repurchase plans. The increase in interest income compared to the same period a year ago was driven by increased volume in the loan portfolio and increased yield in the investment securities portfolio, partially offset by decreased volume in the investment securities portfolio and decreased yield in the loan portfolio. Earnings per share decreased during the three months ended December 31, 2014 compared to the same period a year ago primarily due to a decrease in net income partially offset by a decrease in weighted average shares.

For the year, the company reported net income available to common shareholders of $5.5 million or $0.41 per share diluted compared with $7.7 million or $0.52 for the same period of 2013. The company reported total interest income of $36.7 million compared to $33.8 million, net interest income of $32.6 million compared to $8.5 million, income before provision for income taxes of $6.4 million compared to $12.3 million, return on average assets of 0.58% compared to 0.83% and return on average equity of 5.59% compared to 7.47% for the last year. Book value per share as on December 31, 2014 of $6.29 compared to $5.86 per share as on December 31, 2013.

The company realized net charge offs of $255,000 in the current quarter compared with net charge offs of $532,000 in the prior quarter and net recoveries of $630,000 for the same period a year ago.