Clarkston Financial Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported interest and fees on loans of $1,433,000 compared with $1,425,000 for the same period last year. Total interest income was $1,475,000 compared with $1,468,000 for the same period last year. Net interest income was $1,331,000 compared with $1,330,000 for the same period last year. Income before income taxes was $382,000 against $280,000 a year ago. Net income was $252,000 compared with $280,000 for the same period last year. Earnings per share - basic & diluted were $0.08 against $0.09 a year ago. Book value per share was $4.04 compared with $3.48 a year ago. Return on average assets was 0.69% compared with 0.87% for the same period last year. Return on average equity was 7.81% compared with 10.06% for the same period last year.

For the first quarter ended March 31, 2015, the company reported net loan charge-offs of $101,000.

The company is optimistic of company's financial performance will be very good for the remainder of 2015 as the impact of closing two of offices will lower operating expenses and increase efficiencies.