Elmira Savings Bank announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net interest income of $3,739,000 against $3,845,000 for the same period a year ago. Income before income taxes was $1,925,000 against $1,920,000 a year ago. Net income was $1,304,000 or $0.37 per diluted share against $1,296,000 or $0.38 per diluted share a year ago. Book value per common share as at December 31, 2012 was $18.50 compared to $17.92 as at December 31, 2011. Income available to common shareholders was $893,000 compared to $885,000 a year ago. Net income attributable to bank was $1,299,000 compared to $1,291,000 a year ago. Return on average equity was 7.72% compared to 7.94% for the same period in 2011. Return on average assets was 0.97% compared 0.99% for the same period in 2011.

For the year, the company reported net interest income of $15,089,000 against $15,550,000 for the same period a year ago. Income before income taxes was $7,732,000 against $7,407,000 a year ago. Net income was $5,218,000 or $1.51 per diluted share against $5,034,000 or $1.41 per diluted share a year ago. Income available to common shareholders was $3,604,000 compared to $3,265,000 a year ago. Net income attributable to Bank was $5,213,000 compared to $5,029,000 a year ago. The increase in net income was primarily the net result of an increase in noninterest income of $1,323,000, offset by a decline in net interest income of $461,000, and an increase in noninterest expense of $742,000. Return on average equity was 7.89% compared to 8.40% for the same period in 2011. Return on average assets was 0.99% compared 1.00% for the same period in 2011.

For the fourth quarter ended December 31, 2012, the company reported net charge offs of $31,000.