ENB Financial Corp. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2013
For the year, the company net income was $7,710,000, a $68,000, or 0.9% increase, over 2012. Year-to-date earnings per share were $2.70 in 2013 compared to $2.68 in 2012. The Corporation's core earnings or net interest income of $21,524,000 for the year ended December 31, 2013, represents a decrease of $330,000, or 1.5%, from 2012. The decrease in NII was primarily caused by a decrease of $1,361,000, or 4.8%, in total interest income, which was partially offset by savings on deposit costs of $768,000, an 18.0% reduction, and $263,000 of savings on borrowing costs, a 12.2% reduction. The corporation's annualized ROA was 0.96%, compared to 0.98% in 2012, while the ROE was 8.92%, compared to 8.87% for 2012.