Entegra Financial Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
For the year, the company reported interest income of $33,144,000 against $32,445,000 a year ago. Net interest income was $27,421,000 against $25,872,000 a year ago. Income before taxes was $7,086,000 against $8,151,000 a year ago. Net income was $23,825,000 against net income of $5,943,000 a year ago. Basic and diluted net income per share was $3.64 compared to $0.91 a year ago. Return on average assets was 2.51% against 0.71% a year ago. Return on average equity was 19.78% against 10.39% a year ago. Core return on average assets was 0.53% against 0.55% a year ago. Core return on average equity was 4.14% against 7.98% a year ago. Book value per share was $20.13 compared to $16.39 a year ago. Core net interest income (Non-GAAP) was $27,421,000 against $24,747,000 a year ago. Core net income (Non-GAAP) was $4,990,000 or $0.76 per share against $4,567,000 or $0.70 per share a year ago. The increases in net interest income and core net interest income for 2015 are primarily the result of higher earning asset balances.