Clarkston Financial Corporation reported consolidated unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported interest and fees on loans of $1,466,000 compared with $1,428,000 for the same period last year. Total interest income was $1,506,000 compared with $1,467,000 for the same period last year. Net interest income was $1,353,000 compared with $1,320,000 for the same period last year. Net income was $926,000 compared with $5,016,000 for the same period last year. Book value per share as on December 31, 2014 was $3.97 compared with $3.38 as on December 31, 2013. Return on average assets was 2.59% compared with 15.94% for the same period last year. Return on average equity was 30.80% compared with 330.03% for the same period last year.

For the year, the company reported interest and fees on loans of $5,802,000 compared with $5,502,000 for the same period last year. Total interest income was $5,952,000 compared with $5,632,000 for the same period last year. Net interest income was $5,395,000 compared with $4,996,000 for the same period last year. Net income was $1,736,000 compared with $5,502,000 for the same period last year. The decrease in earnings year over year is directly attributable to the tax effects of reversing the valuation allowance against the deferred tax asset made in 2013 and 2014.