Bank of the James Financial Group Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2015. Net income for the three months ended December 31, 2015 was $825,000 or $0.22 per diluted share compared with $951,000 or $0.28 per diluted share for the three months ended December 31, 2014. Earnings per share were impacted by an increase in weighted average shares outstanding, which were 3,688,184 in fourth quarter 2015 versus 3,367,001 in fourth quarter 2014. Net interest income was $4.60 million for the three months ended December 31, 2015, up 7.5% from $4.28 million for the three months ended December 31, 2014. ROAE for the three months ended December 31, 2015 was 8.03% compared with 11.01% for the three months ended December 31, 2014. Return on average assets was 0.63% against 0.83% a year ago. Tangible book value per share rose to $11.01 at December 31, 2015 compared with $10.31 per share a year earlier.

Net income for the 12 months ended December 31, 2015 was $3.69 million or $1.07 per diluted share, up from $3.41 million or $1.01 per diluted share. Earnings per share in 2015 were lowered slightly by an increase in weighted average shares outstanding to 3,451,409 compared with 3,365,410 weighted average shares in 2014. Net interest income increased 7.4% to $17.61 million for the 12 months ended December 31, 2015 compared with $16.40 million for the 12 months ended December 31, 2014. Return on average assets (ROAA) was 0.74% in 2015, compared with 0.76% in 2014, even as assets increased substantially. Return on average equity (ROAE) was 9.78% in the 12 months of 2015, compared with 10.28% in the 12 months of 2014.