Harvard Illinois Bancorp, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014
For the year, net loss was $10.6 million. The loss for both periods was impacted by a $4.0 million provision for income taxes during the three months ended December 31, 2014. The loss for both periods was also impacted by provision for loan losses recorded for the company's $18.1 million investment in the daily overnight repurchase agreement with First Farmers Financial LLC during the three months and the year ended December 31, 2014 of $1.6 million and $10.1 million, respectively.